Suven Life Sciences rose 4% to Rs 290.05 at 11:56 IST on BSE after the company said it secured five product patents for its new chemical entities in Australia, China, Europe, South Korea and USA.
The announcement was made during trading hours today, 13 October 2015.
Meanwhile, the BSE Sensex was down 84.90 points, or 0.32%, to 26,819.21.
On BSE, so far 3.53 lakh shares were traded in the counter, compared with an average volume of 1.76 lakh shares in the past one quarter.
The stock hit a high of Rs 295.90 and a low of Rs 278.90 so far during the day. The stock hit a record high of Rs 338.50 on 15 April 2015. The stock hit a 52-week low of Rs 177.25 on 16 October 2014.
The stock had outperformed the market over the past one month till 12 October 2015, rising 20.06% compared with 5.05% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 18.43% as against Sensex's 2.74% decline.
The mid-cap company has an equity capital of Rs 12.73 crore. Face value per share is Re 1.
Suven Life Sciences (Suven) announced that it secured patents in Australia, China, Europe, South Korea and USA for its new chemical entities (NCEs) for central nervous system (CNS) therapy through mechanism of action - H3 Inverse agonist. These patents are valid until 2031, 2030, 2031, 2030 and 2031 respectively. The granted claims of the patent include the class of selective H3 ligands discovered by Suven and are being developed as therapeutic agents and are useful in the treatment of cognitive impairment associated with neurodegenerative disorders, the company said in a statement.
With these new patents, Suven has a total of twenty two (22) granted product patents in Australia, nineteen (19) granted patents from China, seventeen (17) granted patents from Europe, seventeen (17) granted patents from South Korea and twenty three (23) granted patents from USA, it said. 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, it added.
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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