Research based pharmaceutical company, Venus Remedies Limited, on Thursday announced signing of its deal with Korean pharma giant Goodwills Co.
Ltd for exclusive marketing rights of Elores, a novel Antibiotic Adjuvant Entity.
Venus has inked this deal after grant of patent by Companies and Intellectual Property Registration Office (CIPRO) from Republic of South Korea.
South Korean major is planning to launch this product in mid of 2014 post regulatory approval from Korean FDA for which the dossier is already under evaluation.
Pawan Chaudhary, CMD Venus Remedies Limited, said, "Patent grant from CIPRO is testimony to the merits of Elores and we are confident that our partnership with Goodwills Korea shall take our research product to its meaningful stage in South Korea. Goodwills will have exclusive marketing rights of the product till validity of its patent in year 2025 .
After Adcock Ingram, a leading manufacturer and distributor of healthcare product from South Africa, this is Venus Remedies second deal in a year for out licensing its research products.