Suven Life Sciences surges on securing product patents

Suven Life Sciences, a biopharmaceutical company, surges by almost 3 per cent as it has secured product patents in Brazil and Eurasia for the treatment of neurodegenerative diseases.

The product patent acquired by the company in Brazil will be valid through 2023, while the product patent acquired in Eurasia will be valid through 2024.

The granted patents will develop drugs which will use in 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.

During the recent quarter Q2FY19, the company has secured 12 product patents covering Australia, Canada, China, Eurasia, Hong Kong, Israel, Japan, New Zealand, Sri Lanka and USA. The company’s revenue mix comprises of Manufacturing (90 per cent) and Services (10 per cent).

Cheering the product patent wins, the stock jumped by almost 3 per cent to make an intraday high of Rs. 227.85 per share on the BSE. The company had hit its 52-week high of Rs. 337.70 on November 9, 2018 and its 52-week low of Rs. 163.30 on March 23, 2018 on BSE, respectively. At 11:20 hours, the stock was trading at Rs. 225.30 on BSE.