Suven Life Sciences rose 2.59% to Rs 290.90 at 13:06 IST on BSE after the company said it secured two product patents in Europe and Hong Kong.
The company made the announcement during trading hours today, 13 May 2015.
Meanwhile, the BSE Sensex was up 73.73 points, or 0.27%, to 26,951.21.
On BSE, so far 2.96 lakh shares were traded in the counter, compared with an average volume of 3.45 lakh shares in the past one quarter.
The stock hit a high of Rs 302 and a low of Rs 286 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 82.70 on 26 May 2014.
The stock had underperformed the market over the past one month till 12 May 2015, sliding 11.20% compared with 6.93% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 20.29% as against Sensex's 6.69% fall.
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The mid-cap company has an equity capital of Rs 12.73 crore. Face value per share is Rs 1.
Suven Life Sciences announced that it was granted one (1) product patent from Europe (2758394) and one (1) product patent from Hong Kong (1173140) corresponding to their New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases.
The granted claims of the patents include the class of selective 5-HT compounds discovered by Suven and are being developed as therapeutic agents and are useful in the treatment of cognitive impairment associated with neurodegenerative disorders like Alzheimer's disease, Attention deficient hyperactivity disorder (ADHD), Huntington's disease, Parkinson and Schizophrenia, the company said in a statement.
With these new patents, Suven has a total of sixteen (16) granted patents from Europe and seventeen (17) product patents from Hong Kong. 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, the company said.
Suven Life Sciences' net profit fell 11.5% to Rs 32.23 crore on 7.9% growth in net sales to Rs 128.83 crore in Q3 December 2014 over Q3 December 2013.
Suven Life Science is a biopharmaceutical company focused on discovering, developing and commercializing novel pharmaceutical products, which are first in class or best in class Central Nervous System (CNS) therapies through the use of G-protein coupled receptors (GPCRs) targets.
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