Venus Remedies gains on securing additional patent for Vancoplus from USPTO

Venus Remedies is currently trading at Rs. 294.20, up by 1.30 points or 0.44% from its previous closing of Rs. 292.90 on the BSE. The scrip opened at Rs. 299.00 and has touched a high and low of Rs. 302.80 and Rs. 293.50 respectively. So far 3173 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 350.00 on 28-Apr-2014 and a 52 week low of Rs. 140.00 on 02-Aug-2013. Last one week high and low of the scrip stood at Rs. 324.80 and Rs. 290.20 respectively. The current market cap of the company is Rs. 341.71 crore. The promoters holding in the company stood at 43.99% while Institutions and Non-Institutions held 8.75% and 47.26% respectively. Venus Remedies has bagged additional patent for Vancoplus from USPTO. Vancoplus is an antibiotic adjuvant entity effective in one the most deadly resistance by Methicillin Resistant Staphylococcus Aureus (MRSA). Developed by the Venus Medicine Research Centre (VMRC), the R&D wing of Venus Remedies, Vancoplus is the only solution till date for MRSA with more than 9 per cent of success rate. The patent is valid till 2032. The company has already initiated process for pre IND meeting with US FDA and is quite optimistic to get fast track approval for this product because MRSA is under the list of limited pathogens identified under GAIN act by FDA and Vancoplus falls in that OIDP category. Venus Remedies already has product patent for Vancoplus from US PTO, this additional patent with broader coverage for use and method of treatment will be beneficial for the company. The formulation will be commercialized in the US market through technology transfer/outlicensing of exclusive marketing rights route and we are open for such deals. Venus Remedies is a pharmaceutical manufacturing company. The company provides formulations in area of antibiotics and oncological therapeutics. The company has two manufacturing facilities located in India and Germany. It manufactures Oncological and Cefelosporine Injectable products.