Jun 12, 2012, 03.54 PM IST
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
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.
Venus Remedies stock price
On December 11, 2013, Venus Remedies closed at Rs 231.80, down Rs 4.3, or 1.82 percent. The 52-week high of the share was Rs 358.05 and the 52-week low was Rs 140.00.
The company's trailing 12-month (TTM) EPS was at Rs 50.97 per share as per the quarter ended September 2013. The stock's price-to-earnings (P/E) ratio was 4.55. The latest book value of the company is Rs 339.42 per share. At current value, the price-to-book value of the company is 0.68.
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