Venus takes Trois to Singapore
The company is expecting revenue of US$ 10 million in next three years from the market.
Chandigarh, September 29, 2014: Pharma major Venus remedies will soon start selling its pain reliever Trois in the Singapore market and is expecting revenue of US$ 10 million over the next three years.
The Indian company has already received market authorisation and patent for this product from Singapore authorities, making it first such authorisation from any overseas country for Trois. The company believes that there is huge market potential for this product in the Singapore market and it is also in discussion with forging tie-ups with pharma companies for marketing Trois in Singapore.
The company expects to roll out the product in the market within the current financial year. The current size of the topical pain management market is close to US$ 4 billion and Trois has the potential to become a US$ 250 million product once it is launched internationally.
It is estimated that more than 1.5 billion people worldwide suffer from chronic pains of varying degree.
The company has already filed the product, process and patent for Trois in 46 countries. While the company has already received patents from South Africa, New Zealand and now Singapore, it hopes to get patent grants from the US, Canada and Europe.
The company has already launched this product in the Indian market and is expecting to earn revenue of US$ 2 million in the first year of its launch.