Venus Remedies, a research based pharmaceutical company, has recently entered in to a collaborative agreement with TEVA.

This high potential drug is under patent protection till 2016 and is widely used for the treatment of malignant pleural mesothelioma and non-squamous non-small cell lung cancer having a market of more than USD 4 billion and estimated to increase to USD 5.4 billion by 2020 in regulated markets of United States, France, Germany, Italy, Spain, the United Kingdom and Japan.

Shares of the company declined Rs 3.8, or 1.36%, to trade at Rs 275.05. The total volume of shares traded was 120,837 at the BSE (12.25 p.m., Thursday).