Venus Remedies extends gain on US patent nod for antibiotic product

Venus Remedies is trading higher by 6% to Rs 186, extending its previous day’s over 5% gain on receiving patent from the US Patent Office for new antibiotic product which targets drug resistant infections.

"The new drug product CSE1034, which is an antibiotic adjuvant entity, has been found to be effective against a wide range of drug resistant infections including the 'superbugs' like carbapenemase resistant Metallobetalactamses strains” the company said in a release.

The stock opened at Rs 178 and hit a high of Rs 189 on the Bombay Stock Exchange. As many as a combined 162,377 shares have changed hands on the counter so far against an average sub 12,000 shares that were traded daily in past ten trading days on both the exchanges.