Venus Remedies outlicenses drug to South Korean firm
23 Sep 2009
Venus Remedies has out licensed its antibiotic resistant treatment drug Sulbactomax to a South Korean pharmaceutical firm. The name of the firm was not disclosed.
The Korean firm has received an exclusive marketing right for the whole life of the drug patent. As per the agreement terms the product will be supplied from Venus's Baddi unit.
Venus has begun product registration process through collaborators. Commercial supplies of the drug are expected to begin early 2011, said a press release from the company.
Sulbactomax, the innovative product developed to overcome the challenge of antibiotic resistance, is indicated for conditions like pre-post surgical infections. Post-operative surgical site infections are one of the most common healthcare-associated infections, occurring in up to five per cent of surgical patients.
Sulbactomax widens the antibacterial spectrum and reduces treatment time. It additionally helps in better tissue penetration and reduces drug and disease induced side effects, thereby giving better patient compliance.
South Korea's $14.75 billion pharmaceutical market is growing at compound annual growth rate of 8.56 per cent.
Sulbactomax will have a significant market share out of the present cephalosporin market size of $585 million in South Korea, growing at 10 per cent per annum, said the press release.
Earlier Venus Remedies had received the patent of Sulbactomax from the South African Patent office. Venus is searching for a suitable partner in the South African market as well.