Comments
Venus Remedies Limited has signed a memorandum of understanding with South African pharmaceutical firm Austell Laboratories to exclusively out license its flagship product Elores in South Africa.
The antibiotic adjuvant entity effectively counters serious hospital-acquired infections caused by multidrug-resistant extended-spectrum beta-lactamase (ESBL) and metallo-beta-lactamise (MBl)-producing gram negative bacteria, the company said in a filing to the BSE.
Elores is likely to be launched in South Africa by mid 2015. There the overall systemic antibacterial market is worth $ 275 million and growing at a CAGR of 10.5%. The drug will cater to the needs of around 40% segment of this market.
Venus Remedies is projected to generate cumulative revenue of $ 20 million within five years of the launch of Elores in SouthAfrica. Globally, the systemic antibacterial market, which is growing at a CAGR of 7.2%, is set to reach $ 44 billion by 2016.
The infections caused by multidrug-resistant bacteria which Elores is capable of fighting comprise 25% of this market, thus creating a tremendous opportunity for Venus Remedies, the company has said.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.