Suven Life Sciences surges on bagging patents in India, South Korea
In a significant boost, Suven Life Sciences bagged product patents in India and South Korea, following which the share price of company shot up by over 3 per cent on BSE on Tuesday. The company received the approval for one product patent in India and of one in South Korea, corresponding to the new chemical entities used for treating disorders associated with neurodegenerative diseases.
The granted claims of patents include the class of selective Alpha4 Beta2 and 5-HT4 compounds, which are being developed for the treatment of depressive disorders and cognitive impairment associated with neurodegenerative disorders such as alzheimer's disease, Huntington's disease, narcolepsy, Parkinson, schizophrenia and others.
The product patent acquired by the company in India will be valid through 2029, while the product patent acquired in South Korea will be valid through 2033, respectively.
The company hit an intraday high of Rs. 197.50 per share and an intraday low of Rs. 190.05 per share on BSE on Tuesday. The company had hit its 52-week high of Rs. 250.80 per share on January 29, 2018 and its 52-week low of Rs. 155 per share on August 11, 2017 on BSE, respectively. At 1219 hours, the stock was trading at Rs. 193 per share, higher by 0.94 per cent on BSE on Tuesday.