Suven Life Sciences advances after securing four overseas product patents

Suven Life Sciences rose 3.05% to Rs 258.55 at 12:41 IST on BSE after the company announced that it has secured one product patent each in Eurasia, Europe, Israel and Macau.

The announcement was made during trading hours today, 11 December 2015.

Meanwhile, the BSE Sensex was down 186.46 points, or 0.74%, to 25,065.86

On BSE, so far 1.69 lakh shares were traded in the counter, compared with an average volume of 1.87 lakh shares in the past one quarter.

The stock hit a high of Rs 263.85 and a low of Rs 250.05 so far during the day. The stock hit a record high of Rs 338.50 on 15 April 2015. The stock hit a 52-week low of Rs 192.15 on 8 September 2015.

The stock had underperformed the market over the past one month till 10 December 2015, falling 6.49% compared with 1.91% decline in the Sensex. The scrip, however, outperformed the market in past one quarter, gaining 8.36% as against Sensex's 1.44% decline.

The mid-cap company has an equity capital of Rs 12.73 crore. Face value per share is Re 1.

Suven Life Sciences (Suven) announced today, 11 December 2015 that the company has been granted one product patent each from Eurasia, Europe, Israel and Macau corresponding to the new chemical entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases and these patents are valid through 2030.

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, the company said.

With these new patents, Suven has a total of 15 granted patents from Eurasia, 18 granted product patents from Europe, 8 granted patents from Israel and five granted patents from Macau. These granted patents are exclusive intellectual property of Suven and are achieved through the internal discovery research efforts, the company said. Products out of these inventions may be out-licensed at various phases of clinical development like at Phase-I or Phase-II, it added.

Suven Life Sciences' net profit declined 0.4% to Rs 24.73 crore on 16.5% decline in net sales to Rs 116.76 crore in Q2 September 2015 over Q2 September 2014.

Suven Life Sciences is a clinical stage biopharmaceutical company developing novel medicines to treat life-threatening Central Nervous System (CNS) disorders.

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