Suven Life Sciences rises after securing product patents

Suven Life Sciences rose 2.17% to Rs 223.80 at 11:30 IST on BSE after the company said it secured product patents in Australia and Singapore.

The announcement was made during trading hours today, 16 January 2019.

Meanwhile, the S&P BSE Sensex was up 21.82 points, or 0.06% to 36,340.15.

On the BSE, 64,000 shares were traded in the counter so far compared with average daily volumes of 25,000 shares in the past two weeks. The stock had hit a high of Rs 226.20 and a low of Rs 218.60 so far during the day. The stock hit a 52-week high of Rs 337.70 on 11 September 2018. The stock hit a 52-week low of Rs 163.30 on 23 March 2018.

Suven Life Sciences (Suven) announced the grant of 1 product patent from Australia and 1 product patent from Singapore corresponding to the new chemical entities for the treatment of disorders associated with Neurodegenerative diseases and patents are valid through 2036.

The granted claims of the patents include the class of selective 5-HT4 and M1 PAM compounds respectively and are being developed as therapeutic agents for neurodegenerative disorders such as for the treatment of cognitive impairment associated with neurodegenerative disorders like Alzheimer's disease, Attention deficient hyperactivity disorder (ADHD), Huntington's disease, Parkinson and Schizophrenia etc.

Net profit of Suven Life Sciences dropped 43.28% to Rs 18.01 crore on 16.23% fall in net sales to Rs 89.52 crore in Q2 September 2018 over Q2 September 2017.

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

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