Suven Life Sciences gains after securing product patents

Suven Life Sciences rose 3.13% to Rs 263.40 at 09:25 IST on BSE after the company was granted product patents in Israel, Japan, New Zealand and Sri Lanka.

Apr 04, 2019 04:04 IST capital market

The announcement was made after market hours yesterday, 3 April 2019.

Meanwhile, the S&P BSE Sensex was up 22.29 points, or 0.06% to 38,899.41

On the BSE, 24,000 shares were traded in the counter so far compared with average daily volumes of 28,000 shares in the past two weeks. The stock had hit a high of Rs 266.80 and a low of Rs 261 so far during the day. The stock hit a 52-week high of Rs 337.70 on 11 September 2018. The stock hit a 52-week low of Rs 170.25 on 4 April 2018.

Suven Life Sciences announced the grant of one product patent from Israel, one product patent from Japan, one product patent from New Zealand and one product patent from Sri Lanka corresponding to the New Chemical Entities for the treatment of disorders associated with Neurodegenerative diseases and patents are valid through 2036 and 2029 respectively.

The granted claims of the patents include the class of selective 5-HT4 and M1 PAM compounds and are being developed as therapeutic agents for neurodegenerative disorders such as for the treatment of cognitive impairment associated with neurodegenerative disorders like Alzheimers disease, Attention deficient hyperactivity disorder (ADHD), Huntingtons disease, Pain, Parkinson Disease and Schizophrenia etc.

Net profit of Suven Life Sciences dropped 27.08% to Rs 25.23 crore on 19.27% fall in total income to Rs 134.78 crore in Q3 December 2018 over Q3 December 2017.

Suven Life Science is a biopharmaceutical company focused on discovering, developing and commercializing novel pharmaceutical products.

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