Venus Remedies soars on getting product patent grant for Vancoplus

The stock soared 18% to Rs 193, bouncing back 25% from intra-day low of Rs 155 on BSE,

Venus Remedies has soared 18% to Rs 193, bouncing back 25% from intra-day low on BSE, after the drug maker said it has received product patent grant from Indian Patent Office (IPO) for its unique research product, Vancoplus. It is valid till 2025.

The stock opened at Rs 161 and hit a low of Rs 155 on the Bombay Stock Exchange (BSE). The trading volumes on the counter more than doubled with a combined 1.58 million shares changing hands till 1415 hours on the BSE and National Stock Exchange (NSE).

"The total market size of MRSA in the world accounts for $ 9 billion. At present, it is growing with CAGR of 4.8% which is estimated to reach to 12.4% by 2017. In India, Vancoplus would have an addressable market of Rs 214 crore by 2018-19," Venus Remedies said in a statement.

Vancoplus has already been launched in the Indian market and till date approx 80,000 patients have been cured with it. It has received an overwhelming response from the medical fraternity in India. The company has conducted clinical trials on large patient population to prove the clinical efficacy and safety, which is further validated by publications in peer reviewed journals. Venus has more than 15 papers on this product, it added.

Vancoplus is a novel antibiotic adjuvant entity highly effective against notorious (MRSA) strain and multi-drug resistant microbes primarily responsible for causing infections such as Meningitis, Pneumonia, Typhoid, Septicemia, Urinary Tract Infection, Skin infections and Staphylococcal Endocarditis.

It is also active against different mechanisms of resistance such as cell membrane impermeability, efflux pumps, biofilms, which no other existing therapeutic options available in the market are able to address.