Shares of Suven Life Sciences surges 7 per cent

The shares of Suven Life Sciences (SUVEN) surged by about 7 per cent on Monday (13th July), as it secured four Product Patents for their New Chemical Entities (NCE's) in China, Mexico and South Africa. The stock closed at Rs 235.05 on Friday (10th July) and touched a day high of Rs 251.85 in NSE on Monday (13th July).

SUVEN on Monday announced to the BSE that, they have secured total four product patents to their three NCE's, one product patent in China, two in South Africa and one in Mexico. The patents of China and South Africa are for central nervous system (CNS) therapy, through mechanism of “H3 ligands,” which is useful in the treatment of cognitive impairments associated with neurodegenerative disorders. These patents are valid till 2030 and 2031 respectively. Also the product patent for their NCE in Mexico includes the class of selective “alpha-4-beta-2 compounds,” which is useful for major depressive disorder (MDD) and the patent is valid till 2030.

According to the reports, including these four product patents, the total product patent tally from these three NCE's reached  fifty seven (57), which includes sixteen (16) granted patents from China, nineteen (19) from Mexico and twenty two (22) from South Africa. These granted product patents are the exclusive intellectual property of SUVEN and have potential to cover the huge market globally.

Earlier,  SUVEN reported a net profit of Rs 108.75 crore for FY15 as against Rs 144.15 crore in FY14 and net sales of the company stood at Rs 520.86 crore for FY15, as against Rs 510.31 crore in FY14. The company also declared 60 per cent dividend, which comes to Rs 0.60 per share for the FY15.

SUVEN formerly known as Suven Pharmaceuticals was incorporated on 9th March 1989 as a private company and subsequently in January 1995 converted into a public company. It was promoted by Jasti Venkateswarlu and Jasti Sudha Rani. SUVEN is a biopharmaceutical company focused on discovering, developing and commercializing novel pharmaceutical products, which are the best in class CNS therapies through the use of GPCR targets. The Company has eleven (11) internally-discovered therapeutic drug candidates currently in the pre-clinical stage of development targeting conditions such as attention deficit hyperactivity disorder (ADHD), dementia, depression, Huntington’s disease, Parkinson’s disease and obesity in addition to Phase 2 ready developmental candidate SUVN-502 for and Phase1 candidate SUVNG3031 for Alzheimer’s disease and Schizophrenia.