Suven Life Sciences advances after securing three product patents

Suven Life Sciences rose 1.32% to Rs 246.20 at 14:13 IST on BSE after the firm said it has secured 3 product patents from Israel, Macau and USA corresponding to their NCEs for the treatment of disorders associated with neurodegenerative diseases.

The announcement was made during market hours today, 16 June 2015.

Meanwhile, the S&P BSE Sensex was down 161.75 points or 0.61% at 26,424.80.

On BSE, so far 2.81 lakh shares were traded in the counter as against average daily volume of 3.39 lakh shares in the past one quarter.

The stock was volatile. The stock rose as much as 4.03% at the day's high of Rs 252.80 so far during the day. The stock fell as much as 1.95% at the day's low of Rs 238.25 so far during the day. The stock had hit a 52-week low of Rs 85.25 on 16 June 2014. The stock had hit a record high of Rs 338.50 on 15 April 2015.

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

Suven Life Sciences said that the granted claims of 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.

Suven Life Sciences's net profit fell 47.7% to Rs 16.95 crore on 15.4% decline in net sales to Rs 110.66 crore in Q4 March 2015 over Q4 March 2014.

Suven Life Sciences is a biopharmaceutical company focused on discovering, developing and commercializing novel pharmaceutical products, which are first in class or best in class CNS therapies through the use of GPCR targets.

Powered by Capital Market - Live News