Suven Life Sciences sizzles after securing a product patent

Suven Life Sciences gained 2.55% to Rs 164.95 at 13:30 IST on BSE after the company said it has secured a product patent in Japan.

The announcement was made during market hours today, 21 August 2017.

Meanwhile, the S&P BSE Sensex was down 93.64 points or 0.3% to 31,431.04. The S&P BSE Small-Cap index was down 21.36 points, or 0.14% to 15,596.59.

On the BSE, 46,000 shares were traded in the counter so far, compared with average daily volumes of 35,605 shares in the past one quarter. The stock had hit a high of Rs 167.80 and a low of Rs 160 so far during the day. The stock hit a 52-week high of Rs 213.10 on 6 October 2016. The stock hit a 52-week low of Rs 151.10 on 9 November 2016.

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 Japan corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases and these patents are valid through 2034.

The granted claims of the patents include the class of selective 5-HT4 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 fell 9.24% to Rs 29.57 crore on 3.2% rise in net sales to Rs 137.45 crore in Q1 June 2017 over Q1 June 2016.

Suven Life Science is a biopharmaceutical company focused on discovering, developing and commercializing novel pharmaceutical products, which are first in class or best in class CNS therapies using GPCR targets.

Powered by Capital Market - Live News