Suven Life Sciences shares gained over 5 per cent intraday in the morning trade on Tuesday after the company informed exchanges that it has secured two product patents in Europe and Macau.
At 10.56 am, share price of the company was trading 3.38 per cent up at Rs 270.80. The scrip opened at Rs 263.85 and had touched a high and low of Rs 275.20 and Rs 260.45, respectively, in trade so far. Sensex was up 47.32 points, or 0.17 per cent, at 26,081.45.
Later, the share price of Suven Life settled 2.54 per cent up at Rs 268.60.
So far, around 1.55 lakh shares of Suven Life Sciences exchanged hands on the BSE as compared with two-week average daily volume of 1.32 lakh shares.
The drug major announced the grant of a product patent from Europe and 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.
With these new patents, Suven has a total of 20 granted patents from Europe and 8 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.