|
| Exchange Disseminated Time | Venus Remedies Ltd has informed BSE regarding a Press Release dated July 11, 2011 titled "Venus launches its patented research product ACHNIL” in India".
Press Release:
"The Company has launched a novel formulation “ACHNIL” brand of “Aceclofenac- injection” in India. “ACHNIL" injection is a ‘single Shot.., last day long" formulation.
This novel formulation based on NDDS (Novel Drug Delivery System) technology will fill in the gap of long standing demand for better pain management therapies 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. ACHNIL acts directly by giving instant relief from acute pain and is effective for the next 24 hours against the conventional daily dose of three injections of diclofenac given every 8 hours.
The development of ACHNIL commenced at VMRC and took more than seven years in the successful completion of phase-I, phase-II and phase-III clinical trials and regulatory approvals from DCGI for this product.
The marketing team of Venus is fully geared upon all India launch to take, this innovative pain solution drug in most needed Indian market. The Indian market for pain management is approximately INR 2000 crores which is growing at the rate of 16% - 20% annually and is expected to be of INR 3500 crores by 2015. Venus is expecting substantial shares in the coming years.
ACHNIL ensures immediate burst release action, which gives results with in 4-5 minutes and rest drug is released in controlled manner thereby passing the true benefits of Aceclofenac.
Aceclofenac is a radical innovation of Venus Medicine Research Centre which is a non steroidal anti-inflammatory drug (NSAID) and 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 Company has already secured patents from India as well as from Europe for this research product which are valid up to 2025 and will further reinforce the market position of Venus Remedies in India and the major European economics such as Germany, UK, France, Spain, Sweden, Italy and Swizerland.
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% of the global population suffers from neuropathic pain, with incidence rate increasing in complementary to age. The Company plans to launch ACHNIL in other market worldwide." |
|
|