Venus Remedies soars 5% on Mexico patent for Potentox
Venus Remedies has received another patent from Mexico for its antibiotic Potentox. This patent provides an exclusivity period for Potentox upto 2025.
Venus Remedies shares surged more than 5 percent on Tuesday, after the pharmaceutical company received a patent from Mexico for its antibiotic Potentox.
Potentox is an antibiotic drug used to cure pneumonia. It is effective in case of hospital-acquired pneumonia and febrile neutropenia infections, primarily caused by quinolones or aminoglycoside-resitant microbes, the company said in its statement.
This patent provides an exclusivity period for Potentox upto 2025.
The drug also has patents from several other countries including USA, India, Australia, New Zealand, South Korea, South Africa, Canada and Ukraine.
The global hospital-acquired bacterial infections market was estimated to be worth USD 9 billion in 2010.
At 11:30 hrs, the stock was at Rs 283.65, up 3.5 percent on NSE. It hit a high of Rs 299 in morning trade.
Even trading volumes surged over 5 times to 56,464 equity shares as compared to its five-day average of 10,578 shares on the Bombay Stock Exchange.