Wednesday 15 June 2016

Suven Life Sciences surges 1% on securing patents for CNS drug

The company has received a patent each from Canada and Hong Kong, for molecules to be developed as drugs for treatment of various central nervous system disorders.

Suven Life Sciences
Shares of Suven Life Sciences are currently trading 1.15% higher at Rs.211.90 on BSE after the company yesterday secured patents for various central nervous system (CNS) drugs.

The company has received a patent each from Canada and Hong Kong for molecules to be developed as drugs for treatment of various central nervous system disorders.

The product patents are “valid through 2032 and 2030, respectively. With these new patents, the company has a total of 23 patents from Canada and 20 patents from Hong Kong.

The scrip opened at Rs. 212.5 and has touched a high and low of Rs. 212.7 and Rs. 209.5 respectively. So far 54915(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 2666.57 crore.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 308.7 on 05-Oct-2015 and a 52 week low of Rs. 144.35 on 19-Feb-2016. Last one week high and low of the scrip stood at Rs. 215.7 and Rs. 205.2 respectively.

The promoters holding in the company stood at 60 % while Institutions and Non-Institutions held 7.74 % and 32.25 % respectively.

The stock is currently trading above its 200 DMA.

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