Suven Life Sciences gets livelier after securing product patents

Suven Life Sciences gained 3.62% to Rs 197.45 at 10:40 IST on BSE after the company said that it has secured product patents in Eurasia and Norway.

The announcement was made during market hours today, 6 December 2017.

Meanwhile, the S&P BSE Sensex was down 78.32 points or 0.24% at 32,724.12. The S&P BSE Small-Cap index advanced 75.26 points or 0.42% at 17,993.97, outperforming the Sensex.

On the BSE, 19,335 shares were traded on the counter so far as against the average daily volumes of 96,463 shares in the past one quarter. The stock had hit a high of Rs 199.90 and a low of Rs 190 so far during the day. The stock had hit a 52-week high of Rs 230 on 17 October 2017 and a 52-week low of Rs 155 on 11 August 2017.

The stock had underperformed the market over the past one month till 5 December 2017, falling 11.6% compared with 2.62% drop in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 16.47% as against Sensex's 3.12% rise. The scrip had, however, underperformed the market in past year, gaining 6.01% as against Sensex's 24.49% rise.

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

Suven Life Sciences announced the grant of one product patent from Eurasia and one product patent from Norway corresponding to the new chemical entities (NCEs) for the treatment of disorders associated with neurodegenerative diseases and these patents are valid through 2034 and 2026 respectively.

The granted claims of the patents include the class of selective 5-HT6 compounds 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.

Net profit of Suven Life Sciences rose 19.5% to Rs 31.75 crore on 9.9% fall in net sales to Rs 104.10 crore in Q2 September 2017 over Q2 September 2016.

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 central nervous system (CNS) therapies using G-protein coupled receptors (GPCRs) targets.

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