Suven Life Sciences rose 4.57% to Rs 242.50 at 10:42 IST on BSE after the company said it secured three product patents in Canada and China.
The announcement was made during trading hours today, 16 September 2015.
Meanwhile, the BSE Sensex was up 168.76 points, or 0.66%, to 25,874.69.
On BSE, so far 1.91 lakh shares were traded in the counter, matching with an average volume of 1.91 lakh shares in the past two weeks.
The stock hit a high of Rs 245 and a low of Rs 233.30 so far during the day. The stock hit a 52-week high of Rs 338.50 on 15 April 2015. The stock hit a 52-week low of Rs 163.45 on 26 September 2014.
Suven Life Sciences (Suven) announced that the grant of two (2) product patents from Canada (2773409, 2785957) and one (1) product patent from China (CN102741239) corresponded to the New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases and these Patents are valid through 2029 and 2030.
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The granted claims of the patents include the class of selective alpha-4-beta-2 compounds discovered by Suven and are being developed as therapeutic agents for major depressive disorder (MDD), the company said in a statement.
With these new patents, Suven has a total of twenty (20) granted patents from Canada and eighteen (18) granted patents from China. 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 declined 41.8% to Rs 20.23 crore on 28.7% decline in net sales to Rs 100.98 crore in Q1 June 2015 over Q1 June 2014.
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 CNS (central nervous system) therapies through the use of GPCR (G-protein-coupled receptors) targets
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