Venus Remedies launches flagship R&D drug Elores in Oman

Pharma major Venus Remedies Ltd on Friday said it has launched its flagship R&D drug, Elores, in the USD 1.4-billion pharmaceutical market in Oman.

''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,'' a company statement said.

The antibacterial market in Oman is worth USD 7.5 million, and Elores is looking to capture 0.5 per cent of this segment by year 2025.

''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 USD 0.5 million by 2025.

''With Elores launched in Oman, we are now targeting the USD 237-million antibiotic market in the GCC region, out of which 54 per cent accounts for the ESBL and MBL resistance segment. We are aiming to secure a 0.1 per cent share in this segment, which amounts to USD 0.23 million,'' said Aditi K Chaudhary, President, International Business, Venus Remedies.

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