Suven Life Sciences rose 2.35% to Rs 195.70 at 10:40 IST on BSE after the company said it secured product patents in India and South Korea.
The announcement was made during trading hours today, 20 February 2018.Meanwhile, the S&P BSE Sensex was up 88.35 points, or 0.26% to 33,863.01.
On the BSE, 50,000 shares were traded in the counter so far compared with average daily volumes of 99,926 shares in the past one quarter. The stock had hit a high of Rs 197.50 and a low of Rs 190.05 so far during the day. The stock hit a 52-week high of Rs 250.80 on 29 January 2018. The stock hit a 52-week low of Rs 155 on 11 August 2017.
The stock had outperformed the market over the past 30 days till 19 February 2018, falling 3.73% compared with 4.89% fall in the Sensex. The scrip had underperformed the market in past one quarter, falling 4.64% as against Sensex's 0.89% rise. The scrip had underperformed the market in past one year, rising 8.95% as against Sensex's 17.84% rise.
The small-cap company has equity capital of Rs 12.73 crore. Face value per share is Re 1.
Suven Life Sciences (Suven) announced the grant of one product patent from India and one product patent from South Korea corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases and these patents are valid through 2029 and 2033 respectively.
The granted claims of the patents include the class of selective Alpha4 Beta2 and 5-HT4 compounds respectively and are being developed as therapeutic agents for major depressive disorders and for the treatment of cognitive impairment associated with neurodegenerative disorders like Alzheimer's disease, Attention deficient hyperactivity disorder (ADHD), Huntington's disease, Narcolepsy, Parkinson and Schizophrenia respectively.
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Net profit of Suven Life Sciences rose 42.6% to Rs 34.60 crore on 41% rise in net sales to Rs 162.74 crore in Q3 December 2017 over December 2016.
Suven Life Science is a biopharmaceutical company focused on discovering, developing and commercializing novel pharmaceutical products.
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