Suven Life Sciences rose 1.37% to Rs 224.90 at 11:51 IST on BSE after the company announced the grant of one product patent each from Brazil and Eurasia for treatment of disorders associated with neurodegenerative diseases.
The announcement was made during trading hours today, 27 December 2018.Meanwhile, the S&P BSE Sensex was up 252.12 points, or 0.71% to 35,902.06
On the BSE, 29,000 shares were traded in the counter so far compared with average daily volumes of 29,000 shares in the past two weeks. The stock had hit a high of Rs 227.85 and a low of Rs 222.65 so far during the day. The stock hit a 52-week high of Rs 337.70 on 11 September 2018. The stock hit a 52-week low of Rs 163.30 on 23 March 2018.
Suven Life Sciences announced today the grant of one product patent from Brazil and one product patent from Eurasia corresponding to the New Chemical Entities for the treatment of disorders associated with Neurodegenerative diseases and patents are valid through 2023 and 2034 respectively.
The granted claims of the patents include the class of selective 5-HT6 and 5-HT4 compounds respectively and are being developed as therapeutic agents for neurodegenerative disorders such as for the treatment of cognitive impairment associated with neurodegenerative disorders like Alzheimer's disease, Attention deficient hyperactivity disorder (ADHD), Huntington's disease, Parkinson and Schizophrenia etc.
Net profit of Suven Life Sciences dropped 43.28% to Rs 18.01 crore on 16.23% fall in net sales to Rs 89.52 crore in Q2 September 2018 over Q2 September 2017.
Suven Life Science is a biopharmaceutical company focused on discovering, developing and commercializing novel pharmaceutical products.
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