Suven's Alzheimer's drug on trial

Suven Life Sciences expects its new drug molecule for Alzheimer's to undergo the first phase of clinical trials in Switzerland next month, according to Chief Executive Officer Venkat Jasti.

The company has developed the new drug application for the treatment of seven neuro disorders apart from neurodegenerative disorders such as Alzheimer's.

The Hyderabad-based company is into drug discovery, contract research and manufacturing services.

"We expect all three phases of the trials to be completed by 2012 and, hopefully, go for global launch," Venkat said.

"After finishing phase II, we may partner global pharma companies for phase III and final production," he said. "Four US-based pharma companies are keen to partner us for the drug." The company is in talks with a European company as well.

The company, which sees huge opportunities in the new drug discovery segment, is also developing drug molecules for schizophrenia and obesity."These are in the final stage of pre-clinical trials," he said.

"We hope to sign another agreement with a major pharma company by next month," Venkat said.

The company spends 25 per cent of its total revenues on research and development annually. Suven posted a net profit of Rs 2 crore on revenues of Rs 28.40 crore in the December quarter.