Suven Life Sciences gains after securing three product patents

Suven Life Sciences rose 2.59% to Rs 206 at 13:58 IST on BSE after the company said it has secured three product patents from China, Eurasia and Hong Kong for the treatment of disorders associated with neurodegenerative diseases.

The announcement was made during market hours today, 14 March 2016.

Meanwhile, the S&P BSE Sensex was up 102.17 points or 0.41% at 24,820.16.

On BSE, so far 1.63 lakh shares were traded in the counter as against average daily volume of 1.23 lakh shares in the past one quarter. The stock hit a high of Rs 211 and a low of Rs 202.40 so far during the day. The stock had hit a record high of Rs 338.50 on 15 April 2015. The stock had hit a 52-week low of Rs 144.35 on 19 February 2016. The stock had underperformed the market over the past one month till 11 March 2016, advancing 4.15% compared with the Sensex's 7.7% rise. The scrip had also underperformed the market in past one quarter, sliding 21.19% as against Sensex's 1.3% fall.

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

Suven Life Sciences said that it has secured one product patent each from China, Eurasia and Hong Kong corresponding to the new chemical entities (NCEs) for the treatment of disorders associated with neurodegenerative diseases. These patents are valid through 2032.

Suven Life Sciences' net profit fell 45% to Rs 17.72 crore on 12.7% decline in net sales to Rs 112.50 crore in Q3 December 2015 over Q3 December 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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