Suven Life Sciences gains on securing three product patents

The stock moved higher by 3% to Rs 269, bouncing back nearly 5% from its early morning low on the NSE.

Shares of Suven Life Sciences moved higher by 3% to Rs 269, bouncing back nearly 5% from its early morning low on the NSE, after the company announced that it has secured three product patents for a drug used in the treatment of neurodegenerative diseases.

“The company has been granted one product patent from Canada, one product patent from ARIPO and one product patent from South Korea corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases,” Suven Life Sciences said in a BSE filing.

These patents are valid through 2030, it added.

The company said, the granted claims of the patents include the class of selective 5-HT compounds discovered by Suven and are being developed as therapeutic agents and are useful in the treatment of cognitive impairment associated with neurodegenerative disorders like Alzheimer’s disease, Attention deficient hyperactivity disorder (ADHD), Huntington’s disease, Parkinson and Schizophrenia.

At 10:14 a.m. the stock was up 2.5% at Rs 267, after hitting an intra-day low of Rs 257 on the NSE in early morning trade. A combined 337,140 shares changed hands on the counter on the NSE and BSE so far.