Venus Remedies shares gain on Japanese patent for Elores

Moneycontrol Bureau  

Venus Remedies shares rallied 6.6 percent intraday Wednesday after the pharmaceutical company received patent from Japanese Patent Office for Elores - the antibiotic against superbugs.

The company is expecting to launch this product in Japanese market by end of 2015.

"We expect this product to generate revenue of around USD 100 million by 2018," Venus said in its filing.

Venus has received patents for this product from 46 countries across the world including US, European Union, Australia, New Zealand, Russia, South Africa, South Korea and India.
 
The stock rose 2.04 percent to close at Rs 265.10 amid large volumes on the Bombay Stock Exchange.

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