Biopharma firm Suven Life Sciences shares surged over 11 per cent in the afternoon trading session on Thursday after the company announced that it has secured five product patents in 5 nations (Express Photo)
Biopharma firm Suven Life Sciences shares surged over 11 per cent in the afternoon trading session on Thursday after the company announced that it has secured five product patents in 5 nations including China and Singapore, for a drug used in the treatment of neurodegeneratives diseases.
At 3.06 pm, the scrip was trading 11.92 per cent higher at Rs 231.50. It opened at Rs 205 and had touched a high and low of Rs 234.95 and 197.60, in trade so far.
In a BSE filing, the company said it has been granted “one product patent from China, one product patent from Israel, one product patent from Mexico, one product patent from Singapore and one product patent from Sri Lanka corresponding to their New Chemical Entities (NCEs) for the treatment of disorders associated with neurodegenerative diseases.”
For the quarter ended June 2015, the small cap company posted net profit of Rs 20.23 crore, down 41.76 per cent, against Rs 34.74 crore in the corresponding quarter a year ago.
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