Drug firm Venus Remedies today said it has received patent approval from the Japanese health regulator for Vancoplus, which is used in treating bacterial resistance.
The company has received patent grant for Vancoplus from Japan Patent Office (JPO), Venus Remedies said in a statement.
The patent grant for Vancoplus is valid up to February, 2026, the company said, adding that the approval is the company's first in the Japanese market.
The company said it aims to launch Vancoplus in Japan in early 2015. The product is at present available in emerging markets and is under registration in many countries.
"The market size of MRSA in the world accounts for $900 million. Presently, it is growing with CAGR of 4.8%, which is estimated to reach to $1.2 billion by 2017," Venus Remedies said.
The company also intends to out-license Vancoplus to major pharmaceutical players, it added.
Commenting on the development, Venus Remedies JMD and Director Research Manu Chaudhary said: "With this patent grant for Vancoplus from Japan, which has a growing elderly population and high health expenditure with second largest per capita spending in the Asia Pacific region, the company is hopeful of gaining a fair share of the MRSA market."
Venus Remedies has already received patent for Vancoplus from US, South Africa, New Zealand and Ukraine.
Shares of Venus Remedies were today trading at Rs 201.15 in the after noon trade on BSE, up 15.94% from its previous close.
