Suven Life Sciences rose 5.21% to Rs 268.95 at 12:20 IST on BSE after the company secured a total of seven product patents in ARIPO, Europe, Hong Kong, Japan, Macau and South Korea.
The company made the announcement during market hours today, 23 December 2015.
Meanwhile, the BSE Sensex was up 237.51 points, or 0.93%, to 25,826.
On BSE, so far 2.1 lakh shares were traded in the counter, compared with an average volume of 1.74 lakh shares in the past one quarter.
The stock hit a high of Rs 272.80 and a low of Rs 255 so far during the day. The stock hit a record high of Rs 338.50 on 15 April 2015. The stock hit a 52-week low of Rs 192.15 on 8 September 2015.
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The stock had underperformed the market over the past one month till 22 December 2015, falling 2.11% compared with Sensex's 1.07% fall. The scrip had also underperformed the market in past one quarter, sliding 0.43% as against Sensex's 0.24% fall.
The mid-cap company has an equity capital of Rs 12.73 crore. Face value per share is Re 1.
Suven Life Sciences said that these patents are valid until 2031. The granted claims of the patent include the class of selective H3 ligands discovered by Suven and are being developed as therapeutic agents and are useful in the treatment of cognitive impairment associated with neurodegenerative disorders.
With these new patents, Suven has a total of one granted product patent from African Regional Intellectual Property Organisation (ARIPO), nineteen granted patents from Europe, eighteen granted patents from Hong Kong, eighteen granted patents from Japan, seven granted patents from Macau and eighteen granted patents from South Korea. These granted patents are exclusive intellectual property of Suven and are achieved through the internal discovery research efforts. Products out of these inventions may be out-licensed at various phases of clinical development like at phase-I or phase-II
Suven Life Sciences' net profit declined 0.4% to Rs 24.73 crore on 16.5% drop in net sales to Rs 116.76 crore in Q2 September 2015 over Q2 September 2014.
Suven Life Sciences is a clinical stage biopharmaceutical company developing novel medicines to treat life-threatening Central Nervous System (CNS) disorders.
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