Venus Remedies gains on partnering with US-based West Pharma

Venus Remedies rose 3.06% to Rs 284.35 after the company announced partnership with West Pharmaceutical Services to launch Cloti-Xa (enoxaparin prefilled syringes) in India with NovaGuard SA pro safety system.

West Pharmaceutical Services, Inc. is a leading provider of innovative, high-quality injectablesolutions and services.

NovaGuard SA pro safety system is a single-use accessory for prefilled ISO standard 1mL long staked-needle syringes.

Cloti-Xa which contains enoxaparin sodium is being introduced with added advantage of NovaGuardo SA Pro safety system which is a revolutionary product that helps and protects healthcare workers and patients from accidental needlestick injuries.

The innovative product has been commented to deliver a compelling total cost of ownership in that it prevents pre-activation, offers a lower syringe snap-in force and a lower activation force for end-user comfort, and mitigates the practice of recapping which helps to provide tamper evidence to customers.

Saransh Chaudhary, chief executive officer, Venus Medicine Research Centre, said: "We are delighted to enter into a partnership with West to produce Cloti-Xa PFS with the innovative NovaGuard SA Pro safety system in India.

Cloti-Xa is expected to provide patients and healthcare providers with an additional advantage of safety from accidental needle stick injuries, which could lead to the spread of infections like HIV, Hepatitis B and C. So far, no other enoxaparin formulation in India seems to offer this additional benefit apart from the innovator brand. Enoxaparin use has increased significantly in ICUs after it has been found useful in reducing hospitalization and mortality in COVID-19 patients. I am positive that it is going to be a high yielding addition to our portfolio, and we intend to add more such innovative products into our product line."

Venus Remedies is a research and development driven global pharmaceutical company and among the leading injectable manufacturers in the world.

The company reported a consolidated net profit of Rs 11.66 crore in the quarter ended December 2020 as against net loss of Rs 0.96 crore during the previous quarter ended December 2019. Net sales rose 25.89% to Rs 121.94 crore in Q3 FY21 over Q3 FY20.

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