Pharma major Venus Remedies Ltd today said it has received patent from Mexico for its antibiotic drug Vancoplus to combat a wide range of infections.
The patent has been granted by Mexico Patent office and is valid till February 2026, Venus said in a release here.
"Receiving a patent grant from Mexico for our research product Vancoplus at this point in time when the frequency of MRSA strains is growing high (50-85%) in Mexico is a great achievement for us," said Manu Chaudhary, Joint Managing Director and Director-Research, Venus Remedies Ltd.
This drug will control MRSA (Methicillin Resistant Staphylococcus Aureus), VRSA (Vancomycin Resistance Staphylococcus Aureus) and multi-drug resistant bacteria, which causes meningitis, pneumonia, typhoid, septicemia, urinary tract infection, skin and skin structure infections and staphylococcal endocarditis, Chaudhary said.
The total market size of MRSA in the world accounts for $9 billion. At present, it is growing at CAGR of 4.8%, which is estimated to reach to $12.4 billion by 2017, the release said.
Mexico being the second leading market in the region represents a growing consumer base for the drug industry as by 2020 the regional population may be as high as 687 million, said company's CFO Dheeraj Aggarwal.
Venus Remedies is currently exporting to the various countries of LAC such as Columbia, Peru, Guatemala, Dominican Republic, Jamaica, Bahamas and the Caribbean.
Its export to LAC has been growing at a rate of near 100% in the past three years and LAC is contributing around 15% of the total exports.
"Receiving a patent grant from Mexico is definitely going to give a boost to our export in the region as we have already filed for market authorisation in various countries such as Mexico and few more countries in LAC," Aggarwal said.
The drug has already received seven patent grants from countries such as Australia, USA, Japan, Canada, South Africa, New Zealand and Ukraine.
However, patents grants from Europe, Brazil, and India are awaited, release said.
