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Suven Life surges 5.5% on neurological drug patent boost

Press Trust of India  |  New Delhi 

of soared 5.5 per cent today after the company received a patent from for a drug used for treatment of neuro- degenerative diseases.

The stock climbed 5.50 per cent to settle at Rs 190.95 on During the day, it jumped 9.83 per cent to Rs 198.80.

On NSE, of the company advanced by 5.44 per cent to close at Rs 190.75.

In terms of equity volume, 3.29 lakh of the company were traded on and over 21 lakh shares changed hands on during the day.

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

The patents are valid till 2034, the company added.

Suven Life CEO Venkat Jasti said: "We are very pleased by the grant of these patents to Suven for our pipeline of molecules in the CNS arena, which are being developed for cognitive disorders with high unmet medical need with a huge market potential globally.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, October 10 2017. 17:48 IST