Venus receives authorisation for Elores from Myanmar
New Delhi, February 26, 2014: Indian drug firm Venus Remedies Ltd today received marketing authorisation for its antibiotic Elores from Mynamar and the company plans to launch the drug in the market in April 2014.
The company said that the approval will help in expanding in the Southeast Asia region. It may be noted here that the size of Mynamar’s pharmaceutical market stands at US$ 400 million and the country important over 85 per cent of its overall pharma product requirements.
Venus is looking at capturing a sizeable chunk of the antibiotic segment with Elores. It is noteworthy that it has already received patents from 46 countries for Elores and the registration procedure is in its advance stage in 13 EU member nations and 15 other countries.
The company has spent close to US$ 10 million on the R&D of the product and the drug is effective against serious multidrug-resistant hospital-acquired infections involving metallo-beta-lactamase and carbapenem-resistant strains of bacteria.