New Delhi: Venus Remedies today said it has received patent approval in South Africa for an antibiotic combination to be used for treating bacterial infections.
The company has received its first patent approval from Companies and Intellectual Property Registration Office (CIPRO), South Africa for its antibiotic combination of carbapenem and aminoglycoside, Venus Remedies said in a statement.
Commenting on the development Venus Remedies Vice President - VMRC Mufti Suhail Sayeed said: "We have made amazing progress to treat serious fatal mixed multi-bacterial infectious diseases through our novel antibiotic combination of carbapenem and aminoglycoside."
Having received this patent grant from CIPRO, South Africa, the company is hopeful of capturing a major share in the market, he added.
The company said that the global anti-infectives market growth for the period from 2009 to 2024 is estimated to be USD 99.13 billion.
The dose reduction to a therapeutically effective level with reduced side effects was the greatest accomplishment of this novel antibiotic combination as it is suitable to all age groups, Venus Remedies claimed.
Product is under development in accordance with the stringent international guidelines defined for developing a new drug and the company expects to launch the product in market by end of 2015, it added.
Shares of Venus Remedies were today trading at Rs 166.55 in the after noon trade on BSE, up 3.83 per cent from its previous close.