Venus Remedies jumps on bagging first patent from Canada for Vancoplus

Venus Remedies is currently trading at Rs. 295.75, up by 12.40 points or 4.38% from its previous closing of Rs. 283.35 on the BSE.

The scrip opened at Rs. 286.45 and has touched a high and low of Rs. 304.55 and Rs. 285.00 respectively. So far 278927 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 304.55 on 10-Sep-2012 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. 304.55 and Rs. 261.75 respectively. The current market cap of the company is Rs. 290.65 crore.

The promoters holding in the company stood at 34.71% while Institutions and Non-Institutions held 14.54% and 50.76% respectively.

Venus Remedies has secured first patent from Canada for its novel antibiotic adjuvant entity ‘VANCOPLUS’. The patent has been granted by the Canadian patent office and is valid up to May 2027. The company is planning to launch the product in Canada in the next two years.

The company is really enthusiastic over the receival of this Canadian patent for VANCOPLUS, which will prove to be a fertile ground for the success of this product not just commercially but also in terms of catering to the constantly rising Methicillin Resistant Staphylococcus Aurous (MRSA) infection rates In Canada.

Since the Canadian pharmaceutical market is the 3 third fastest growing market globally, shows the great growth potential for R&D players in the industry to create better drugs to curb such diseases. With this patent, Venus is hopeful of capturing a significant share in the Canadian Pharmaceutical market.

VANCOPLUS is an 'Antibiotic Adjuvant Entity' (AAE) constituting Ceftriaxone plus Vancomycin along with an adjutant which restricts the production of toxin by MRSA pathogens and is highly effective in combating Methicillin Resistant Staphylococcus Aureus (MRSA) along with other advantages of reduced treatment time, cost and adverse effects.

The Company has already been marketing Vancoplus successfully in India and few of the emerging markets across the globe Venus Remedies' Baddi facility is already approved as per EU GMP for manufacturing of Vancoplus, which is in line with the Canadian Regulatory authorities to market the drug .Vancoplus is growing with a CAGR of 50% since past 3 years. Apart from Canada, the patent for this product has already been granted from USA, South Africa, New Zealand and Ukraine & Australia.