Venus Remedies, a research based pharmaceutical company, announced its partnership with West Pharmaceutical Services, Inc., a global leader in innovative solutions for injectable drug administration, for its new introduction in the fast-growing low molecular weight heparin market with brand Cloti-XarM, which has adopted NovaGuard SA Pro safety system, a single-use accessory for prefilled ISO standard 1mL long staked-needle syringes.
Cloti-XarM which contains enoxaparin sodium is being introduced with added advantage of NovaGuardo SA Pro safety system which is a revolutionary product that helps and protects healthcare workers and patients from accidental needlestick injuries. This innovative product has been commented to deliver a compelling total cost of ownership in that it prevents preactivation, offers a lower syringe snap-in force and a lower activation force for end-user comfort, and mitigates the practice of recapping which helps to provide tamper evidence to customers.
Saransh Chaudhary, Chief Executive Officer, Venus Medicine Research Centre said, "We are delighted to enter into a partnership with West to produce Cloti-XarM PFS with the innovative NovaGuard SA Pro safety system in India- Cloti-XarM is expected to provide patients and healthcare providers with an additional advantage of safety fiom accidental needle stick injuries, which could lead to the spread of infections like HIV, HepatitiS B and C. So far, no other enoxaparin formulation in India seems to offer this additional benefit apart from the innovator brand. Enoxaparin use has increased significantly in ICUs after it has been found useful in reducing hospitalization and mortality in COVID-l9 patients. I am positive that it is going to be a high yielding addition to our portfolio, and we intend to add more such innovative products into our product line."
Speaking on the partnership, Alagu Subrananiam, Managing Director, West India said, "We are excited to extend our partnership with Venus Remedies on this new product launch. By delivering unique and innovative packaging products and services, we at West are committed to improving patients' health. This partnership helps us bring the benefits of our innovative NovaGuard SA Pro safety system to the India market and we will continue to extend the range of our innovative products to local customers and patients worldwide."
Shares of the company gained Rs 8.30, or 3.01%, to settle at Rs 284.20. The total volume of shares traded was 14,550 at the BSE (Tuesday).
