Venus Remedies bags EU patent for once-a-day painkiller ACHNIL
Sustained release Injection gives immediate relief and is effective for 24 hours
Venus Remedies Limited, a leading research based global pharmaceutical company, has been granted another patent by European Patent Office (EPO) for its research drug ACHNIL, a once-a-day painkiller injection. This patent grant will be in force till 2025 in the member countries of EPO which will further reinforce the market position of Venus Remedies in the major economies such as Germany, UK, France, Spain, Sweden, Italy and Switzerland. Earlier, the same formulation was granted patent by the Indian Patent office. This is the second European patent success for Venus after Sulbactomax.
Dr. Manu Chaudhry, Joint Managing Director of the company on the occasion said, "This novel formulation based on NDDS (Novel Drug Delivery System) technology is going to fill the gap of long standing demand for better pain management therapy. Especially for aged population, it is not only going to reduce the number of pricks but will also drastically reduce the side effects associated with the use of NSAIDs." Talking about the benefits of the drug Ms. Chaudhary further added, "ACHNIL starts its action instantly by giving immediate relief from acute pain and is effective for the next 24 hours as against the conventional daily dose of three injections of diclofenac given every 8 hours."
The global market for pain management is forecast to reach US$60 billion by the year 2015. Currently, more than 1.5 billion people worldwide suffer from chronic pain of varying degrees. Among all types of chronic pains, neuropathic pain stands as the highly underserved market. Approximately 3-4.5 per cent of the global population suffers from neuropathic pain, with incidence rate increasing in complementary to age. With increasing aged population and absence of a full-fledged pain management therapy, demand for better pain management therapies, addressing acute and chronic pain, is on the rise, Aceclofenac injection is developed to address this unmet need.
Aceclofenac, a radical innovation of Venus Medicine Research Centre, is a non steroidal anti-inflammatory drug (NSAID) which is used to relieve acute as well as chronic pain and inflammation in rheumatoid arthritis, osteoarthritis, low back pain, ankylosing spondylitis, dental pain, post traumatic pain, gynecological pain and oncology pain. Aceclofenac is designed in such a way that the product is never released in super or sub therapeutic zones and hence is highly safe and practically free from side effects.
The development of ACHNIL took more than five years and has completed phase-III clinical trials successfully. Company has already got approval from DCGI for this product and is planning to launch it in the next month. It has plans to commercialise this formulation in the European market through out-licensing of Exclusive Marketing Rights to Pharma major.
The US represents the largest regional market for pain management worldwide, followed by Europe, as stated by the new market research report on Pain Management. Increasing aging population worldwide, growing number of surgical procedures being performed, changing lifestyles, and increasing incidences of cancer are some of the factors driving growth in the pain management sector.
About Venus Remedies Ltd.:
Venus Remedies Ltd is research and development driven pharmaceutical manufacturing company. Among the top 50 Indian Pharma companies of India, the company has outpaced most Indian pharmaceutical companies in its growth and value creation over the past few years.
Driven by a top class team of managers and motivators this organization is counted as one of the most professional companies of India and a preferred place for top innovators and managers to join the bandwagon of the globally significant Indian Pharma industry.
Venus Remedies Ltd is BSE & NSE listed company with turnover of 310 crores (FY 2010) is present in 60 regulated and semi-regulated countries, actively exporting to more than 20 countries.
The company has two manufacturing locations in India and one in Germany. Venus is top class manufacturer of Oncological and Cephalosporin Injectable products following EU-GMP norms for all is activities. It has 11 overseas offices, 1 R&D center and competent staff of more than 1500 employees. VMRC is the R & D wing of Venus Remedies Limited, approved by Department of Scientific & Industrial Research (DSIR), Govt. of India. VMRC is recognised for development of globally competitive Technologies of high commercial potential.
Venus has a broad range of products catering to critical care segment in parenterals like cephalosporins, carbapenems and oncology drugs in lyophilized form, infusions and small volume parenterals.
The research team of Venus has proved itself to be a power house of innovation by filing many international patents for sophisticated formulations of anti-biotics and oncological therapeutics.
In May 2010 and recently in May 2011 for consecutive second year in a row Venus has won Gold Medal in DST-Lockheed Martin India Innovation Growth Program. This year for TROIS, an integrated medicinal research product and earlier for Ampucare, a wound care product. The program is conducted in association with Department of Science and Technology, Govt. of India, Lockheed Martin Corporation, Indo-U.S. Science and Technology forum, FICCI and IC2 institute (The University of Texas in Austin). This is a reputed forum to assist Indian innovators to commercialise their technologies across globe.