Venus Remedies, a leading research based global pharmaceutical company won Patent Award in Gold category for the year 2010-11 in the valedictory function of India —LAC Pharma Meet by Pharmexcil (Pharmaceuticals Export Promotion Council) held at Hotel Taj Krishna, Hyderabad on 30th September, 2011. Hon'able Chief Minister of Andhra Pradesh Mr. N. Kiran Kumar Reddy presented the award.
Commenting on this, Mr. Pawan Chaudhary, Chairman and Managing Director, Venus Remedies Limited says, “The year 2010-11 was another exciting year at Venus as we forged Global alliances, received multi-country marketing approvals, patents, strengthening international alliances and won several awards, thus turning the global spotlight on us. This is extremely rewarding to see our efforts recognised by the Pharmaceuticals Export Promotion Council, an authorised agency of the Govt. of India for promotion of pharmaceutical exports from India.”
Venus has received this award in recognition of its commendable contribution to R&D in Formulation Sector. The company has been granted with around 44 patents across the globe for its novel research drugs during 2010-11. Mr. Chaudhary further added that Venus has also bagged prestigious awards to its kit during 2010-11, which includes Best Innovation Awards, 2010 and 2011 in Gold category by the India Innovation Programme, organised by Lockheed Martin (USA), FICCI and DST Government of India; Quality Award 2011 in the Gold category from BID at an international convention in Geneva, Switzerland and the BIZZ- Business Excellence Award 2011 from US.
On this 3rd edition of Patent Awards, organised by Pharmaceuticals Export Promotion Council which was set up by Ministry of Commerce & Industry, Govt. of India, the function witnessed the presence of various successful companies that have come together to recognise their achievements of securing patents in the Pharma Sector in 2010-11.
Besides Venus Remedies, companies like Bharat Serums and Vaccines Limited; Glenmark Pharmaceuticals Limited; and Torrent Pharmaceuticals Limited have also won Patent Award 2010-11 in Gold category in the Formulation sector.
At present, the company has filed 341 patents globally, out of which 74 have been granted and rest are at advanced approval stages. The patents cover 51 countries across Europe, North America, the Far East, Australia, South America, Africa and the ASEAN.