Venus aims to earn us$ 100 million from 'elores' in five years
The Company plans to earn US$ 100 million in the next five years from its new drug.
New Delhi, January 18, 2013: Venus Remedies plans to garner close to US$ 100 million in the next five years from its new drug ‘Elores’, which is used for combating spread of bacterial resistance. The company also said that it plans to introduce ‘Elores’ is many other markets post its launch in the Indian market.
The Chandigarh-based drug firm is exploring marketing tie-ups to launch this product in the US market. The company has already appointed Ernst & Young to look for a marketing partner in the US to launch the drug in the US market.
It is worth mentioning here that Elores is a novel antibiotic adjuvant entity (AAE) that targets bacterial resistance mechanisms. The company has already invested US$ 10 million for the development of the new product since 2001 and has plans to invest another US$ 10 million to launch the product in various global markets.