Suven Life Sciences rose 4.48% to Rs 217.90 at 15:10 IST on BSE after the company announced securing product patents in India, Singapore, South Korea and Israel.
The announcement was made during trading hours today, 4 July 2018.Meanwhile, the S&P BSE Sensex was up 262.41 points, or 0.74% to 35,641.01.
On the BSE, 1.23 lakh shares were traded in the counter so far compared with average daily volumes of 89,000 shares in the past two weeks. The stock had hit a high of Rs 218.60 and a low of Rs 209.35 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 that the company has secured one product patent each from India, Singapore, South Korea and Israel corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases and these Patents are valid through 2031, 2034, 2034 and 2036 respectively.
The granted claims of the patents include the class of selective 5-HT4 compounds 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 rose 56% to Rs 62.51 crore on 19.02% rise in net sales to Rs 208.29 crore in Q4 March 2018 over Q4 March 2017.
Suven Life Science is a biopharmaceutical company focused on discovering, developing and commercializing novel pharmaceutical products.
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