Venus Remedies signs pact with South Africa’s Austell for marketing antibacterial drug

Venus Remedies Limited will sell its flagship anti-bacterial product Elores in South Africa through a marketing arrangement with Austell Laboratories. The company has signed a memorandum of understanding with South African pharmaceutical firm Austell Laboratories to exclusively license the product for exclusive marketing.

The antibiotic adjuvant entity is an effective line of treatment for serious hospital-acquired infections caused by multidrug-resistant extended-spectrum beta-lactamase (ESBL) and metallo-beta-lactamise (MBl)-producing gram negative bacteria, the company said in a filing with the Bombay Stock Exchange (BSE).

Venus Remedies expects to launch Elores in South Africa by mid-2015.

The systemic antibacterial market in South Africa is currently estimated at $ 275 million and is seen growing at a compounded average growth rate (CAGR) of 10.5 per cent, the company noted.

The drug will cater to the needs of around 40 per cent segment of this market, it added.

Venus Remedies expects the launch of Elores in South Africa to generate cumulative revenues of $20 million within five years.

Globally, the systemic antibacterial market, which is growing at a CAGR of 7.2 per cent, is expected to reach $ 44 billion by 2016.

According to Venus remedies, Elores is capable of fighting 25 per cent of the infections caused by multidrug-resistant bacteria.

Venus Remedies currently provides formulations in areas of antibiotics and oncological therapeutics, including oncological and Cefelosporine Injectable products.

Incorporated in 1989, the company has two manufacturing facilities located in India and Germany. Its manufacturing in India has received ISO 9001, ISO, 14001 and OHSAS 18001 for quality management while its German facility follows EU-GMP norms.

The company has successfully made its presence in the markets of Philippines, Thailand, Malaysia, Cambodia, Burma, Vietnam, Sri Lanka, Pakistan, Bangladesh, Nepal, Uganda, Kenya, Botswana, Zimbabwe, Sudan, Mauritius, Yemen, Iraq, Russia, Belarus, Ukraine, Costa Rica, Venezuela, Guatemala, Peru, Colombia, Ecuador, Syria, Yeman, Togo, Saudi Arbia and Iraq.

It also has strategic alliances with various pharmaceutical companies such as IPCA Laboratories, Elder Pharmaceuticals, Shreya Lifesciences, Cadila Healthcare, Glenmark Pharmaceuticals, Marksans Pharma, Indoco Remedies, Karle Health Sciences, Lupin and Jagsonpal Pharmaceuticals, to launch its R&D based specialty products.

Venus remedies also conducts in-house research and development activities that focus on formulation development, NDDS (Novel Drug Delivery System), new formulations of off patented chemicals and analytical and chemical research.