Chandigarh, December 23 2013: Venus Remedies Limited, a leading research-based global pharmaceutical company, has received the “Innovative 100 Award” for its novel research product Elores, a drug designed to fight superbugs against which other antibiotics fail to respond, at an award function organized by “Inc India”, a business magazine, in New Delhi.
After receiving the award, Mr Pawan Chaudhary, Chairman and Managing Director, Venus Remedies Limited, said, “This award is recognition of the efforts of Venus Remedies in the field of anti-microbial resistance. Elores, our flagship product, has carved a niche for itself within one year of its launch. We have spent $10 million on its R&D. Elores has received patents from 46 countries, including USA, Australia, India and many European Union constituents. Being the first one to develop it, we will have the first access to global markets, which gives us a clear advantage.”
Elores is known for its efficacy against serious hospital-acquired infections caused by multidrug-resistant metallo-beta-lactamase-producing gram negative strains of bacteria such as E. coli, K. pneumoniae, P. aeruginosa and A. baumanni, which have also become resistant to carbapenems, considered last-resort drugs. Infections caused by resistant microorganisms fail to respond to conventional treatment, thereby resulting in prolonged illness and greater risk of death. Elores has a unique profile of action, which gives it an edge over all the existing therapies.
Globally, the systemic antibacterial market, growing at a compound annual growth rate (CAGR) of 7.2%, is set to reach US $44 billion by 2016. Elores is capable of combating infections caused by multidrug-resistant ESBL/MBL-producing gram negative bacteria, which constitute 25% of this market, thus creating an opportunity of more than US $11 billion for Venus Remedies in the next few years. Elores has received a tremendous response from the medical fraternity since its launch in India in January this year. Inc India is the Indian edition of Inc, a leading US magazine with emphasis on entrepreneurship and growth. Focused on the rapidly-growing mid-sized enterprises in India, the magazine has been chronicling the stories of this community and serving as a resource base for its members since January 2010.
About Venus Remedies
Venus Remedies, headquartered in Panchkula, Haryana (India), is among the 10 leading fixed-dosage injectable manufacturers in the world. The company has three manufacturing units, in Panchkula, Baddi (both India) and Werne (Germany) and 11 overseas marketing offices, including a presence in the US and Germany.
The manufacturing units are certified for ISO 9001, ISO 14001, ISO 18001 and OHSAS. The company has also been approved by EUROPEAN-GMP, WHO-GMP, Latin American GMP (INVIMA), Ukrainian GMP, Zimbabwe GMP, Uganda GMP, Syrian GMP, Columbian GMP, Kenya GMP, Yemen GMP, Saudi Arabian GMP and Iranian GMP, among others. Venus Remedies has been ranked 107th in Asia (source: Bio Spectrum Asia) and among the 500 largest pharmaceutical manufacturing companies in the world (source: Plimsoll Worldwide Business Intelligence Report).
Venus has won over 90 patents for its innovative research products worldwide. The company has presence in 60 countries and covers more than 75 products.
About Venus Medicine Research Centre The Venus Medicine Research Centre (VMRC) located at Baddi, Himachal Pradesh, is a fully equipped interdisciplinary drug discovery and development centre, duly approved by the Department of Scientific and Industrial Research (DSIR), Government of India.
The VMRC is committed to developing therapeutics to meet the challenges of antimicrobial resistance, and has come up with many solutions. It has achieved significant breakthrough in small molecule research for developing products helpful in combating antimicrobial resistance, utilizing novel targets and adjuvants which synergise with other antibiotics and minimizing potential for resistance. Significant breakthroughs have been achieved by the VMRC in antibiotic adjuvant entities for notable resistance barriers like ESBLs, “plasmid encoded carbapenem resistant metalo-beta-lactamases”, methicillin-resistant staphylococcus aureus (MRSA), bacterial biofilms and C. difficile infection.