Venus Remedies, a research-oriented global pharmaceutical company, has bagged a patent from the United States Patent Office for Achnil, a once-a-day painkiller injection developed by the Venus Medicine Research Centre (VMRC), the R&D wing of Venus Remedies. The patent will remain in force till 2032. The company made the official announcement to this effect on January 29, 2014.
"The formulation will be commercialised in the US market through technology transfer/outlicensing of exclusive marketing rights route, and we are open to such deals," said Venus Remedies Chief Financial Officer Mr Dheeraj Aggarwal.
Containing aceclofenac, a non-steroidal anti-inflammatory drug (NSAID), Achnil is a pioneering product developed by the VMRC in its efforts to develop a controlled release formulation based on the novel drug delivery system. While the US represents the largest market for pain management worldwide, NSAIDs account for 28% of the global painkiller market, the size of which was US $10.22 billion in 2013. The share of injectables in this market is 15%, making it a market worth US $1.5 billion. Expected to grow at a compound annual growth rate (CAGR) of 3.1%, this potential market for Achnil will be worth US $1.75 billion by 2018.
It is estimated that 215 million people in the US aged 20 years and above either suffer from pain in one or more body parts, including joints, lower back, neck and face/jaw, or undergo dental pain and headaches/migraines. About 70 million surgical procedures are performed annually in the US and 80 per cent of these patients experience post-surgical pain, of which cases of severe pain constitute 11-20 per cent. In 2012, more than 31 million non-fatal traumatic cases accompanied by severe pain were recorded. A recent survey found that 25% of the US population suffers from musculoskeletal or lower back pain, 18% suffer from neck pain and 17% from knee and shoulder pain.
Achnil is the best and safest option to address such pains. The aceclofenac-based formulation can relieve acute as well as chronic pain and inflammation arising from rheumatoid arthritis, osteoarthritis, lower back pain, ankylosing spondylitis, and dental, post-traumatic pain, gynaecological and cancer-related pains.