Moneycontrol Bureau
Shares of Suven Life Sciences gained as much as 5.4 percent intraday Monday on getting two product patents in South Korea and US.
"Its drug discovery portfolio which has expanded into several new therapeutic areas such as major depressive disorder (MDD), obesity and pain through neuronal nicotinic receptor modulators resulted in the grant of one product patent from USA and one patent from South Korea," said the company in its filing.
These patents are related to the new chemical entity (NCE) for the treatment of disorders associated with neurodegenerative diseases and are valid through 2030.
With these new patents, Suven has a total of 19 granted patents from USA and 15 granted patents from South Korea. Products out of these inventions may be out-licensed at various phases of clinical development like at Phase-I or Phase-II, it added.
At 11:05 hours IST, the stock was quoting at Rs 191.50, up Rs 8.90, or 4.87 percent on the BSE.
Posted by Sunil Shankar Matkar
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