Suven Life Sciences rose 0.84% to Rs 168.05 at 10:15 IST on BSE after the company said it secured two product patents in China and Mexico.
The announcement was made during trading hours today, 22 November 2016.Meanwhile, the BSE Sensex was up 99.64 points, or 0.39%, to 25,864.78
On BSE, so far 13,000 shares were traded in the counter, compared with average daily volume of 70,299 shares in the past one quarter. The stock hit a high of Rs 170 and a low of Rs 165.50 so far during the day. The stock hit a 52-week high of Rs 275.20 on 29 December 2015. The stock hit a 52-week low of Rs 144.35 on 19 February 2016. The stock had underperformed the market over the past 30 days till 21 November 2016, falling 16.28% compared with the 8.23% decline in the Sensex. The scrip also underperformed the market in past one quarter, sliding 16.32% as against Sensex's 7.95% decline.
The small-cap company has equity capital of Rs 12.73 crore. Face value per share is Re 1.
Suven Life Sciences announced the grant of one product patent from China and one product patent from Mexico corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases and these patents are valid through 2032 and 2031 respectively. The granted claims of the patents are from the mechanism of action include the class of selective H3 inverse agonist compounds 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, Major Depressive disorder (MDD), Parkinson and Schizophrenia.
With these new patents, Suven Life Sciences said that the company has a total of twenty one granted patents from China and twenty two granted patents from Mexico. These granted patents are exclusive intellectual property of Suven and are achieved through the internal discovery research efforts, the company said. Products out of these inventions may be out-licensed at various phases of clinical development like at Phase-I or Phase-II, it added.
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Suven Life Sciences' net profit rose 58.2% to Rs 32.58 crore on 31.7% rise in net sales to Rs 133.23 crore in Q1 June 2016 over Q1 June 2015.
Suven Life Sciences is a biopharmaceutical company specializing in drug discovery and developmental activities in central nervous system disorders and contract research and manufacturing services (CRAMS).
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