Suven Life Sciences shares rose over 3 per cent in noon trade on Friday on BSE after the company announced that it has secured four product patents in Eurasia, Europe, Israel and Macau for the treatment of disorders associated with Neurodegenerative diseases. The patents will be valid through 2030.
At 12:20 pm shares of Suven Life Science were trading 3.61 per cent up at Rs 259.95 on BSE, while on NSE, shares were trading 3.35 per cent up at Rs 258.85. Later, the share price of the company closed 1.55 per cent up at Rs 254.80.
Suven Life Science, a biopharmaceutical company said in a BSE filing said, “The granted claims of the patents include the class of selective 5-HT compounds discovered by Suven and are being developed as therapeutic agents and are useful in the treatment of cognitive impairment associated with neurodegenerative disorders like Alzheimer’s disease, Attention deficient hyperactivity disorder (ADHD), Huntington’s disease, Parkinson and Schizophrenia.”
In the past one year, the share price of Suven Life Science gained 20.4 per cent to Rs 250.90 on December 10. Sensex fell 9 per cent during the same period.
The promoters holding in the company stood at 59.57 per cent while institution and non-institutions held 7.20 per cent and 33.23 per cent respectively.