Suven Life Sciences rose 0.44% to Rs 241.80 at 11:15 IST on BSE after the company said it secured product patents in Israel and Japan for new chemical entities used in treating disorders associated with neurodegenerative diseases.
The announcement was made during trading hours today, 6 November 2018.Meanwhile, the S&P BSE Sensex was up 113.38 points, or 0.32% to 35,064.30.
On the BSE, 18,000 shares were traded in the counter so far compared with average daily volumes of 86,000 shares in the past two weeks. The stock had hit a high of Rs 245.50 and a low of Rs 239.55 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 (Suven) announced securing the grant of one product patent from Israel and one product patent from Japan corresponding to the new chemical entities for the treatment of disorders associated with Neurodegenerative diseases. Patents are valid through 2036 and 2034 respectively.
The granted claims of the patents include the class of selective M1 PAM 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 rose 31.35% to Rs 38.84 crore on 34.51% rise in net sales to Rs 184.88 crore in Q1 June 2018 over Q1 June 2017.
Suven Life Science is a biopharmaceutical company focused on discovering, developing and commercializing novel pharmaceutical products.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
