Drug firm Venus Remedies today received additional patent approval from United States Patent and Trademark Office (USPTO) for its product 'Vancoplus', used for treating bacterial infections.
"Venus Remedies already has product patent for Vancoplus from USPTO. This additional patent with broader coverage for use and method of treatment will be beneficial for the company," Venus Remedies said in a filing to BSE.
The patent is valid till 2032 and the company has already initiated pre-Investigational New Drug meeting with US health regulator, it added.
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Vancoplus is a highly effective remedy to control Methicillin-resistant Staphylococcus aureus (MRSA), VRSA (Vancomycin Resistance Staphylococcus aureus) and other bacterial infections.
Global anti-bacterial market is slated to reach around $64 billion by 2018, Venus Remedies said.
Shares of Venus Remedies were trading at Rs 302.80 per scrip in the afternoon trade on BSE, up 0.26% from its previous close.
