Venus Remedies Ltd announced later this week that its flagship R&D drug, Elores, has been launched in Oman's USD 1.4 billion pharmaceutical market
. "Clinically proven to be one of the best drugs against ICU infections caused by multidrug-resistant
extended spectrum beta lactamase (ESBL) and metallo beta lactamase (MBL)-producing gramme negative bacteria, Elores is effective against bacterial strains resistant to the last-resort carbapenem class of antibiotics," according to a company statement.
The antibacterial market in Oman is worth USD 7.5 million, and Elores hopes to capture 0.5% of this market by 2025.
"We anticipate that this product, which has been patented in 46 countries, including the largest pharmaceutical markets of the United States and Japan, as well as many European countries, will generate approximately USD 0.5 million in revenue by 2025."
"With the launch of Elores in Oman, we are now targeting the USD 237 million antibiotic market in the GCC region, of which 54% is accounted for by ESBL and MBL resistance." "Our goal is to secure a 0.1 percent share in this segment, which amounts to USD 0.23 million," said Aditi K Chaudhary, Venus Remedies' President, International Business.