Venus Remedies Ltd today said it has received patent from Mexico for its antibiotic drug Vancoplus to combat a wide range of infections.
The patent has been granted by Mexico Patent office and is valid till February 2026, Venus said in a release here.
“Receiving a patent grant from Mexico for our research product Vancoplus at this point in time when the frequency of MRSA strains is growing high (50-85 per cent) in Mexico is a great achievement for us,” said Manu Chaudhary, Joint Managing Director and Director-Research, Venus Remedies Ltd.
This drug will control MRSA (Methicillin Resistant Staphylococcus Aureus), VRSA (Vancomycin Resistance Staphylococcus Aureus) and multi-drug resistant bacteria which causes meningitis, pneumonia, typhoid, septicemia, urinary tract infection, skin and skin structure infections and staphylococcal endocarditis, Chaudhary said.
The total market size of MRSA in the world accounts for $9 billion. At present, it is growing at a CAGR of 4.8 per cent which is estimated to reach to $12.4 billion by 2017, the release said.
Mexico, being the second leading market in the region, represents a growing consumer base for the drug industry as by 2020 the regional population may be as high as 687 million, said the company CFO Dheeraj Aggarwal.
Venus Remedies is currently exporting to various countries of LAC such as Columbia, Peru, Guatemala, Dominican Republic, Jamaica, Bahamas and the Caribbean.
The company's exports to LAC have been growing at a rate of near 100 per cent in the past three years and LAC is contributing around 15 per cent of the total exports.
“Receiving a patent grant from Mexico is definitely going to give a boost to our export in the region as we have already filed for market authorisation in various countries such as Mexico and few more countries in LAC,” Aggarwal said.
The drug has already received 7 patent grants from countries such as Australia, USA, Japan, Canada, South Africa, New Zealand and Ukraine. However, patents grants from Europe, Brazil, and India are awaited, the release said.