Venus Remedies Ltd (VRL), a research based pharmaceutical company, has received patent for its product Vancoplus from Republic of South Africa and New Zealand.
Vancoplus is used to combat Methilicillin Resistant Staphylococcus Aureus (MRSA). Dr Manu Chaudhary, JMD, Venus Remedies says, "Vancoplus is a brand of Ceftriaxone and Vancomycin along with chemical vector used in CVMC technology which has a potential to restrict production of toxin produced by MRSA. Vancoplus therapy reduces treatment time and cost and is a boon for medical field." The patent for Vancoplus is valid till February 2026 in both the countries.
Vancoplus has been successfully launched in few markets globally and has achieved sales of $3.5 million in three years. The product is under registration in many countries. The patent of this product has also been filed in US, Canada, Europe, Ukraine, Russia etc besides India and the grant is expected to be received soon.
The pharmaceutical market size of South Africa was worth $3.03 billion in 2007 and that it should reach $4.41 billion by 2012 and the current size of the New Zealand pharmaceutical market is $379 million.
On Tuesday, Venus Remedies ended 1.11% down at Rs254.10 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.60% at 19,521.25 points.
India's auto major Tata Motors Ltd has launched its mini-truck 'Ace Super City Giant' in Thailand and also disclosed plans to enter the Thai car market in the next couple of years.
The company is also seeking to tap opportunities in Malaysia and Indonesia.
"We would like to get into the car market here soon. Small car is the largest segment here and in a couple of year's time we expect to be there," Tata Motors Thailand CEO Ajit Venkataraman said at the Thailand International Motor Expo.
The company said it was also actively working to enter medium and heavy commercial vehicles segment in Malaysia and Indonesia.
Commenting on the entry in the Thailand's mini-truck market, Tata Motors Thailand general manager Sompong Polchitcharoon said the company expected to sell about 150 units a month of the Ace Super City Giant.
On Tuesday, Tata Motors rose 4.31% to Rs1,237.10 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.60% at 19,521.25 points.
Taiwan Weighted and Nasdaq Composite performed the best (up 2% each), while Bovespa and Hang...