Updated on 7 October 2014
Venus Remedies is currently holding talks with various pharmaceutical firms for tie-ups to market its herbal nanotechnology-based pain reliever Troisin in Singapore. The company has entered Singapore's topical pain management market with a marketing authorisation and patent for the product.
"This is a great opportunity for us to capture a sizeable share in this segment of the Singapore pharma market. Trois has a huge potential in Singapore, where 10 percent people are diagnosed with arthritis, 73.4 percent of the office workers suffer from musculoskeletal disorders and 20 percent of the population above the age of 65 suffers from symptoms of osteoarthritis," said Hailing the achievement, Venus Remedies chairman and managing director, Mr Pawan Chaudhary.
As per Mr Chaudhary, the topical pain management market is $4 billion globally, and, going by global projections, Trois has the potential of becoming a $250-million product once launched internationally.
A product for topical use, the company claims Trois provides relief to patients suffering from rheumatic disorders, low back pain, osteoarthritis, rheumatoid arthritis, gout, knee pain, ankylosing spondylitis, fibromyalgia and pain originating from muscles and tendons. Currently, more than 1.5 billion people worldwide suffer from chronic pains of varying degree.
"Trois is the safest known topical product for management of pain and inflammation associated with rheumatic disorders. It is 30 percent more effective than conventional products, as proven by a series of toxicity and safety studies. It has 150 percent enhanced retention for longer effect, improved relief and better mobility," said Dr Manu Chaudhary, joint managing director and director-research, Venus Remedies.
Venus has filed the product, process and use patent for Trois in 46 countries. While the company has already received patents from South Africa, New Zealand and now Singapore, it is on the verge of getting patent grants from the US, Canada and Europe.