Shares of Suven Life Sciences soared 5.5 per cent today after the company received a patent from New Zealand for a drug used for treatment of neuro- degenerative diseases. The stock climbed 5.50 per cent to settle at Rs 190.95 on BSE. During the day, it jumped 9.83 per cent to Rs 198.80. On NSE, shares of the company advanced by 5.44 per cent to close at Rs 190.75. In terms of equity volume, 3.29 lakh shares of the company were traded on BSE and over 21 lakh shares changed hands on NSE during the day. In a BSE filing today, Suven Life said it has been granted "one product patent from New Zealand corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with neuro-degenerative diseases". The patents are valid till 2034, the company added. Suven Life CEO Venkat Jasti said: "We are very pleased by the grant of these patents to Suven for our pipeline of molecules in the CNS arena, which are being developed for cognitive disorders with high unmet medical need with a huge market potential globally.
Suven Life surges 5.5% on neurological drug patent boost
Press Trust of India |