Venus signs marketing tie-up with Adcock

Venus Remedies Ltd has signed an exclusive marketing rights contract for its novel antibiotic product - Potentox with South African company - Adcock.

Adcock will have exclusive marketing rights of the product in South Africa over a period of 15 years. Potentox is a research-based antibiotic product of the company, where the patent is protected in US, India, Canada, Australia, New Zeland and South Korea.

On Monday, shares of Venus declined by 0.50% to touch Rs 270.35 in the morning session.

Adcock, with a market cap of $2 billion, enjoys 10% share in the pharma market of South Africa with strong presence in OTC brands.

Last month, Venus Remedies had launched CSE1034, a novel antibiotic drug to combat antimicrobial resistance, under the brand name ELORES. ELORES has secured patents from countries like the US, EU , Australia, and Russia. The company is awaiting registration grant for ELORES with European regulatory bodies to commercialise the product.