Suven Life Sciences rises after securing product patents

Suven Life Sciences rose 0.65% to Rs 170.30 at 13:45 IST on BSE after the company said it secured product patents in Norway, South Korea and Singapore.

The announcement was made during trading hours today, 22 March 2018.

Meanwhile, the S&P BSE Sensex was down 95.12 points, or 0.29% to 33,041.06. The S&P BSE Small-Cap index was down 146.99 points, or 0.85%, to 17,097.43.

On the BSE, 38,000 shares were traded in the counter so far compared with average daily volumes of 50,000 shares in the past two weeks. The stock had hit a high of Rs 175 and a low of Rs 170.20 so far during the day. The stock hit a 52-week high of Rs 250.80 on 29 January 2018. The stock hit a 52-week low of Rs 155 on 11 August 2017.

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 Norway, one product patent from South Korea and one product patent from Singapore corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases and these patents are valid through 2027, 2034 and 2036 respectively.

The granted claims of the patents include the class of selective 5-HT6 and 5HT4 compounds respectively and are being developed as therapeutic agents for major depressive disorders and for the treatment of cognitive impairment associated with neurodegenerative disorders like Alzheimer's disease, Attention deficient hyperactivity disorder (ADHD), Huntington's disease, Narcolepsy, Parkinson and Schizophrenia respectively.

Net profit of Suven Life Sciences rose 42.56% to Rs 34.60 crore on 41.03% rise in net sales to Rs 162.74 crore in Q3 December 2017 over December 2016.

Suven Life Science is a biopharmaceutical company focused on discovering, developing and commercializing novel pharmaceutical products.

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