Venus remedies Limited, a leading research-based global pharmaceutical company, bagged the coveted UBM India Pharma Award for its flagship product, Elores, in the excellence in product development category at a glittering ceremony in Mumbai. UBM is a leading service provider for all global events-led marketing and communications business. It is a subsidiary of UBM PLC, a leading global business Media Company listed on the London Stock Exchange.
The awards ceremony recognized select, path-breaking initiatives undertaken by the pharmaceutical industry in key areas of quality, product design, cost management, packaging, corporate social responsibility and research and development. Among the jury members for the awards were Dr Ajit dangi, president and CEO Danssen Consulting, Davinder Pal, president, Catalyst Pharma Consult, and Kaushi Desai, Director (India region), Drug Information Association.
Asserting that this prestigious awards is a recognition of Venus Remedies' competitive edge in research-based products and its innovative approach, Dr Manu Chaudhary, director, research, Venus medicine Research Center, said, "It is a matter of great pride for the entire VMR team to have received this award for Elores. This is the second award for Elores in the first year of its launch.
Launched in January this year, Elores is a novel antibiotic adjutant entity that effectively counters serious hospital-acquired infections caused by multidrug-resistant extended-spectrum beta-lactamase (ESBL) and metallo-beta-lactamase (MBL) - producing gram negative bacteria.
Globally, the systemic antibacterial market, which is growing at a compound annual growth rate of 7.2%, is set to reach $44 billion by 2016. Elores is capable of fighting multidrug-resistant ESBL/MBL - producing gram negative infections, which comprise 25% of this market, thus creating an opportunity of more than $11 billion in the coming five-six years. Elores has received patents for the product and its method of treatment from 46 countries, including USA, India, Australia, Japan, South Korea and constituents of the European Union.