Mumbai: Pharmaceutical company Venus Remedies Ltd today said it has filed for patent protection of its fourth research product, a formula for treating Meningitis in 48 countries.
The patent is filed for “Parenteral Combination Therapy for infective conditions with Drug Resistant Bacterium”, the only solution for the treatment of Meningitis, Venus Remedies said in a communique to the Bombay Stock Exchange.
This product was launched for the first time in India in October 2005 under strategic marketing tie-ups with leading MNCs after filing for patent in the country, the company informed.
The niche product has become a Rs25 crore brand within two years of its launch, the company said.
The company has selected 48 countries, including Australia, Brazil, Canada, China, EU, New Zealand and the U.S, with high marketing potential for this product.
The global market size for the product is estimated to be worth $900 million. Shares of the company were last trading at Rs 447.30, up 2.04% on the BSE.