Venus Remedies soars as its antibiotic product receives US Patent

Venus Remedies is currently trading at Rs. 173.15, up by 6.00 points or 3.59% from its previous closing of Rs. 167.15 on the BSE.

The scrip opened at Rs. 164.10 and has touched a high and low of Rs. 173.15 and Rs. 164.05 respectively. So far 7812 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 275.95 on 28-Jul-2011 and a 52 week low of Rs. 141.05 on 22-Dec-2011.

Last one week high and low of the scrip stood at Rs. 173.15 and Rs. 162.00 respectively. The current market cap of the company is Rs. 167.36 crore.

The promoters holding in the company stood at 34.71% while Institutions and Non-Institutions held 14.42% and 50.87% respectively. 

Venus Remedies has received patent from the US Patent Office for a breakthrough antibiotic product. The new drug product CSE 1034 which is an antibiotic adjuvant entity (AAE), has been found to be effective against a wide range of drug resistant infections including the ‘superbugs’ like carbapenemase resistant Metallobetalactamses (MBL) strains.

The US patent of CSE 1034 for the company is a landmark development for initiating the process of commercialization of this novel drug, designed specifically to target growing bacterial resistance mechanisms. There are far fewer new antibiotics in the development pipeline as global drug makers are focusing more on drug candidates with instant block-buster potential to treat cancer and metabolic diseases.

In view of the urgency, the regulatory agencies around the world are currently fast-tracking the approval process at antibiotic drugs. Even the Infectious Diseases Society of America (IDSA) has recommended the US Food and Drug Administration (USFDA) to review drugs designed to target antibiotic resistance as ‘orphan drugs’ to speed up their marketing approval.

Besides, Venus drug has a unique profile of action which gives it an edge over all the existing therapies. This unique antibiotics adjuvant entity creates a synergistic effect due to its activity on AMRINGER (Acquired Multiple Resistance in Gram Negative Enterococci and Rods) which stops development and spread of bacterial resistance. This drug is experienced with clinical studies on more than 1000 patients which have indicated approximately 20-30% reduction in cost of therapy compared to conventional therapies being used.

Further, the company is planning to launch this drug in India under the brand name ‘ELORES’ and is planning to have a pre IND meeting with USFDA for fast track approval of this product.