Suven Life Sciences gains after securing 3 product patents

Suven Life Sciences rose 1.32% to Rs 206.90 at 11:28 IST on BSE after the company said it has secured three product patents in Europe and Eurasia.

The announcement was made during trading hours today, 29 June 2016.

Meanwhile, the BSE Sensex was up 110.14 points, or 0.42%, to 26,634.69

On BSE, so far 69,000 shares were traded in the counter, compared with an average volume of 5.80 lakh shares in the past one quarter. The stock hit a high of Rs 210.30 and a low of Rs 203.20 so far during the day. The stock hit a 52-week high of Rs 308.70 on 5 October 2015. The stock hit a 52-week low of Rs 144.35 on 19 February 2016. The stock had underperformed the market over the past 30 days till 28 June 2016, declining 6.84% compared with Sensex's 0.75% fall. The scrip had also underperformed the market in past one quarter, rising 4.58% as against Sensex's 4.68% rise.

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

Suven Life Sciences announced today, 29 June 2016 that the grant of one product patent from Europe and two product patents from Eurasia corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases and these patents are valid through 2029, 2030 and 2031 respectively. The granted patents 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, Major Depressive disorder (MDD), Parkinson and Schizophrenia.

With these new patents, Suven Life Sciences has a total of twenty one granted patents from Europe and nineteen granted patents from Eurasia. These granted patents are exclusive intellectual property of the company and are achieved through the internal discovery research efforts. Products out of these inventions may be out-licensed at various phases of clinical development like at Phase-I or Phase-II.

Suven Life Sciences' net profit rose 90.5% to Rs 32.29 crore on 53% rise in net sales to Rs 169.28 crore in Q4 March 2016 over Q4 March 2015.

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

Powered by Capital Market - Live News