Suven Life Sciences surges on securing patents in Hong Kong, US and India

Pharma major Suven Life Sciences shot up by over 5 per cent in Thursday’s trade session as the company bagged 4 product patents in Hong Kong, India and US. The significant addition to the company’s patented products was announced on Thursday, making the stock surge to Rs. 200.70 per share, higher by over 5 per cent on BSE.
 
The company has secured one product patent from Hong Kong, one product patents from USA and two product patents from India corresponding to the new chemical entities (NCEs) for the treatment of disorders related to Neurodegenerative diseases, valid through 2032, 2030 and 2034, respectively.
 
The patents secured by the company includes the class of selective H3 and 5-HT6 compounds and are being developed as therapeutic agents for the treatment of cognitive impairment associated with neurodegenrative disorders like Alzheimer’s disease, attention deficient hyperactivity disorder (ADHD), Huntington’s disease, Parkinson and Schizophrenia.
 
The stock hit an intraday high of Rs. 200.70 per share and an intraday low of Rs. 188.85 per share on BSE on Thursday. The stock had hit its 52-week high of Rs. 230 per share on October 17, 2017 and its 52-week low of Rs. 155 per share on August 11, 2017 on BSE, respectively. At 1202 hours IST, the stock was trading at Rs. 196.95 per share, higher by 3.25 per cent on BSE.