Suven Life Sciences surges over 5% on securing patentsJul 9, 2015
Shares of Suven Life Sciences rose over 5 per cent in early trade on Bombay Stock Exchange (BSE) after the drug firm said it has secured patents in China and South Africa for a drug used in the treatment of neurodegenerative diseases. "The company secured patents in China and South Africa to its New Chemical Entities (NCE's) for CNS therapy through mechanism of action H3 Inverse agonist and these patents are valid until 2031, 2030 and 2031 respectively," Suven Life Sciences said in a news release.
Following the development, shares of the company gained 5.12 per cent to Rs 247.55 a piece on Bombay Stock Exchange.
In a similar trend, shares of the company surged 5.51 per cent to Rs 248 a piece on National Stock Exchange.
Meanwhile, the broader benchmark BSE Sensex was trading at 27,674.85, up 13.45 points, or 0.05 per cent at 11.15 hours.