Drug firm Venus Remedies today said it has received patents in South Africa and New Zealand for its product -- Vancoplus, used in treatment of bacterial infections.
"Companies and Intellectual Property Registration Office (CIPRO) from Republic of South Africa and Commissioner of Patents, Trademark and Design, intellectual property office of New Zealand have granted a product patent to Vancoplus," Venus Remedies said in a filing to the Bombay Stock Exchange (BSE).
The patent of the product is valid till February 2026 in both the countries, it added.
Venus said that it has filed for the patent of Vancoplus in United States, Canada, Europe, Ukraine, Russia and India and the product has already achieved sales of $3.5 million in three years in some markets.
"The product is under registration in many countries," the company said without giving any detail.
Besides, the company has already initiated talks with some MNCs for outlicensing in territories where patent has been granted for Vancoplus.
Shares of Venus today closed at Rs 256.95 on the BSE, up 4.35 per cent from its previous close.