Venus Remedies signs MoU for Elores with South African pharmaceutical firm

Venus Remedies has already filed the common technical document for Elores in Europe and is planning to take this product to other international markets with the support of Lockheed Martin Foundation, Union Department of Science and Technology, FICCI and


Venus Remedies, a research-based global pharmaceutical company, has signed a memorandum of understanding (MoU) with South African pharmaceutical firm Austell Laboratories to exclusively out license its flagship product, Elores, in South Africa.

A novel antibiotic adjuvant 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, Elores is likely to be launched in South Africa by mid-2015, said Venus Remedies, chairman and managing director, Mr Pawan Chaudhary.

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 ESBL/MBL-producing gram negative bacteria which Elores is capable of fighting comprise 25% of this market, thus creating a tremendous opportunity for Venus Remedies.

The MoU between Venus Remedies and Austell Laboratories was signed recently at the Patna Technology Expo, where the top 20 innovators under the "DST-Lockheed Martin India Innovation Growth Program 2013", including Venus Remedies, were awarded cash prizes.

The overall systemic antibacterial market of South Africa is worth US $275 million and growing at a compound annual growth rate (CAGR) of 10.5%. Elores will cater to the needs of about 40% segment of this market. "Venus Remedies is projected to generate a cumulative revenue of US $20 million within five years of the launch of Elores in South Africa," said Mr Chaudhary.

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