Suven Life Secure One Patent Each In Europe, Macau

Suven Life Sciences, Bio-pharmaceutical Company, has surged over 5 per cent in today’s trade to hit Rs 275 on the BSE after the company informed exchanges that it has secured two product patents in Europe and Macau.

The company has secure one product patent from Europe and one product patent from Macau corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases and these Patents are valid through 2030 and 2029 as per press release.

One week ago the company has secured seven Product Patents for their NCE's in ARIPO, Europe, Hong Kong, Japan, Macau and South Korea.

With these new patents, the company has a total of twenty granted patents from Europe and eight granted patents from Macau. 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.

On financial front, in H1FY16, the company reported standalone net profit of Rs 44.95 crore, lower by 24.54 per cent Y-o-Y. The company's revenue stood at Rs 217.74 crore, witnessed a decline of 22.61 per cent Y-o-Y.

Institutions holding increased from 1.97 per cent as on September 30, 2014 to 7.21 per cent as on September 30, 2015. Today, the Stock closed at Rs 268.6, an increase of 2.2.54 per cent from the previous close. At CMP, the stock is trading at 35 times its TTM earning per share of Rs 7.7.