Indian research-driven pharmaceutical company, Venus Remedies has launched its flagship R&D drug, Elores, in the $1.4-billion pharmaceutical market in Oman.
Having received a tremendous response from the medical fraternity across the globe, Elores has a unique profile of action, which prevents both the growth and spread of drug-resistant genes from one bacterial species to another.
According to the statement, “Clinically proven to be one of the best drugs against ICU infections caused by multidrug-resistant extended spectrum beta-lactamase (ESBL) and metallo beta lactamase (MBL)-producing gram negative bacteria, Elores is effective against bacterial strains resistant to the last-resort carbapenem class of antibiotics.”
Elores drug’s clinical trial study, completed to very high standards, was the first antibiotic study from India to get listed on the US clinical trial web portal. The antibacterial market in Oman is worth $7.5 million, and Elores is looking to capture 0.5 percent of this segment ($0.375 million) by the year 2025.
Ms. Aditi K Chaudhary, President of International Business at Venus Remedies, said that, “We expect this product, which has been patented in 46 countries, including the largest pharmaceutical markets of the US and Japan and many European countries, to generate a revenue of around $0.5 million by 2025. With Elores launched in Oman, we are now targeting the $237-million antibiotic market in the GCC region, out of which 54 percent accounts for ESBL and MBL resistance segment. We are aiming to secure a 0.1 percent share in this segment, which amounts to $0.23 million.”
“As we chart the way forward for Elores, our eyes are set on new horizons, including the promising markets of Kenya, Philippines, Kuwait, and Qatar. Our vision transcends mere expansion. We seek collaboration with multinational corporations, which resonate with our mission and possess the marketing prowess to amplify the impact of Elores in specified territories,” Ms. Chaudhary added.
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