Venus Remedies inlicenses another patented technology

Venus Remedies Ltd has announced that the Company has entered into another In-Licensing deal with a Chinese Inventor Company, and got the Exclusive Manufacturing and Marketing Rights for a latest generation Amino-glycoside formulation developed from a New Chemical Entity, for Indian markets.

The In-licensed Technology was developed by the Jiangsu Provincial Institute of Microbiology, China. This Patented product a new, latest generation Amino-glycoside Anti-biotic, is highly efficacious, broad spectrum and the safest amongst existing Amino-glycoside available world-wide. It's a technology breakthrough with least reported nephro-toxicity with 2400% lesser Adverse Drug Reactions as compared to Gentamycin. The Product has worldwide Patent and the Company has got the Exclusive manufacturing and Marketing rights for Indian markets for 10 years.

The Phase - III, multi-centre clinical Trials process has been initiated, with its commercial launch expected in Q3 of 2008, after the necessary regulatory approvals. The product has a market worth INR 6000 million in India which is growing at the rate of 8% p.a. The product is projected to be a major grosser, having greater efficacy and lower treatment span as compared to the conventional therapies available and the Company is expecting to gain a healthy market share after its commercialization.

The stock was trading at Rs.540, up by Rs.4.35 or 0.81%. The stock hit an intraday high of Rs.548 and low of Rs.535.10. The total traded quantity was 14462 compared to 2 week average of 20966.

Source : Equity Bulls

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