Venus Remedies wins Innovative 100 Award for ELORES

Venus Remedies Limited has received Innovative 100 Award for its novel research product "ELORES", a drug designed to fight 'superbugs' to which other antibiotics failed to respond to, at an award function organized by "Inc India", business magazine in Delhi.

On receiving this award, Mr Pawan Chaudhary, Chairman cum Managing Director, Venus Remedies Limited said, "This award is a recognition for Venus' effort in the fireld of AMR. Elores is our new product and in a very short apan of time it has done exceptionally good in the market. Getting this award for Elores is the recognition of our years of research and efforts put in by our team to bring this product to the market. This is extremely rewarding to see our research being recognized at such prestigious platforms."

Elores, the flagship product of Venus Remedies, is known for its efficacy against serious multidrug-resistant hospital-acquired infections involving metallo-beta-lactamase and carbapenem-resistant strains of bacteria such as E. coli, K. pneumoniae, P. aeruginosa and A. baumanni. Infections caused by resistant microorganisms are failing to respond to conventional treatment, thereby resulting in prolonged illness and greater risk of death. Elores has a unique profile of action, which gives it an edge over all the existing therapies.

Globally the systemic antibacterial market is set to reach approx US $44 billion by 2016 and is growing with a CAGR of 7.2% . Elores is capable of addressing Multidrug resistant ESBL/MBL producing gram negative infections which constitute 25% of this market creating an opportunity of more than US $11 billion in coming 5 to 6 years. Elores has patent for product, method of treatment and use protected from 45 countries including USA, India, Australia and Europe. Elores was launched in Indian market in early this year and has received tremendous response from medical fraternity.

Shares of Venus Remedies Ltd was last trading BSE at Rs.241.25, up by Rs.1.80 or 0.75%. The stock hit an intraday high of Rs.246 and intraday low of Rs.240.

The total traded quantity was 0.12 lakh shares as compared to 2 week average of 0.18 lakh shares.

Source : Equity Bulls

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