Jun 12, 2012, 03.54 PM | Source: PTI
Drug firm Venus Remedies today said it has received patent from the US Patent Office for new antibiotic product which targets drug resistant infections.
The product, CSE 1034, has been found to be effective against a wide range of drug resistant infections, including the 'superbugs' the company said in a statement.
Venus Medical Research Centre Vice President Mufti Suhail Sayeed said: "The US patent of CSE 1034 is a landmark development for initiating the process of commercialisation of this novel drug, designed specifically to target growing
bacterial resistance mechanisms".
The innovation achieves greater significance as medical community world over, particularly in India, is looking for ways to deal with the growing problem of antibiotic resistance, the company said.
Emergence of 'superbugs' like carbapenemase resistant Metallobetalactamses has further complicated the scenario, it added.
The company said that in view of the urgency, regulatory agencies around the world are currently fast-tracking the approval process of antibiotic drugs.
"Even the Infectious Diseases Society of America (IDSA) has recommended to the US Food and Drug Administration (USFDA) to review drugs designed to target antibiotic resistance as 'orphan drugs' to speed up their marketing approval," Sayeed said.
On the cost effectiveness of the product VMRC Joint MD Manu Chaudhary said: "Experience with clinical studies on over 1,000 patients have indicated approximately 20 to 30% reduction in cost of therapy compared to conventional therapies being used".
Studies conducted in hospitals across India have shown that the novel antibiotic product is suitable for the treatment of a range of infections including hospital acquired (nosocomial) infections, Venus Remedies said.
The company is planning to launch this drug in India under the brand name Elores and is planning to have a pre IND meeting with US FDA for fast track approval of this product, it added.
"Globally, the antibiotics market generated sales of USD 42 billion in 2009, representing 46% of sales of anti -infective agents and 5 per cent of the global pharmaceutical market," the company claimed.
Shares of Venus Remedies were trading at Rs 171.80 per scrip in the afternoon trade on BSE, up 2.78% from the previous close.
Venus Remedies stock price
On May 31, 2016, Venus Remedies closed at Rs 66.40, down Rs 3.75, or 5.35 percent. The 52-week high of the share was Rs 163.70 and the 52-week low was Rs 65.75.
The company's trailing 12-month (TTM) EPS was at Rs 1.04 per share as per the quarter ended March 2016. The stock's price-to-earnings (P/E) ratio was 63.85. The latest book value of the company is Rs 408.53 per share. At current value, the price-to-book value of the company is 0.16.