Suven Life shares gain on patent rights in foreign countries

Suven Life Sciences shares rose over 1 per cent after the drug firm got patent rights in foreign countries for a neuro-degenerative drug.
The drug firm was granted a patent each by Canada, South Korea and ARIPO for a drug used in the treatment of neuro-degenerative diseases.
At the end of today's trading session, the scrip was quoted at Rs 263.35, up 1.09 per cent, on BSE.
On NSE, the stock ended in the positive territory at Rs 263.20, higher by 1.05 per cent.
During the day, the stock had surged 3.41 per cent to touch an intra-day high of Rs 269.40 on BSE. On NSE, it jumped 3.28 per cent to touch a high of Rs 269.

In a BSE filing today, Suven Life said it has granted "one product patent from Canada, one product patent from ARIPO and one product patent from South Korea corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with neuro-degenerative diseases."

The surge in the counter assumes significance as the broader market closed in the negative territory at 25,580.34, down by 43.01 points.
The patents are valid till 2030, the company added.
With these new patents, Suven has a total of 21 granted patents from Canada, 2 from ARIPO (African Regional Intellectual Property Organisation) and 19 from South Korea.