Suven Life soars 7%, gets 5 product patents in 4 countries
Suven today received the two product patents from Israel, one product patent each from Japan, China and New Zealand corresponding to the new chemical entities (NCEs) for the treatment of disorders associated with neurodegenerative diseases.
December 12, 2014 / 11:34 AM IST
Shares of Suven Life Sciences gained as much as 7 percent intraday Friday on getting five product patents for its new chemical entities (NCEs) in four countries.
"Suven today received the two product patents from Israel, one product patent each from Japan, China and New Zealand corresponding to the new chemical entities (NCEs) for the treatment of disorders associated with neurodegenerative diseases," said the Hyderabad-based life science company in its filing to the exchange.
These patents are valid through 2027, 2028, 2029 and 2030, respectively.
These products 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.
With these new patents, Suven has a total of two granted patents from Israel, 11 patents from Japan, 15 patents from China and 21 product patents from New Zealand.
"We are very pleased by the grant of these patents to Suven for pipeline of molecules in CNS arena that are being developed for cognitive disorders with high unmet medical need with huge market potential globally," said Venkat Jasti, CEO of Suven.
At 11:09 hours IST, the stock was quoting at Rs 221.75, up Rs 11.80, or 5.62 percent on the Bombay Stock Exchange.
Posted by Sunil Shankar Matkar