Suven Life Sciences shares gain 5% on product patents in Hong Kong, India and US
Suven Life Sciences share price rallied as much as 5.2 percent on Thursday after receiving product patents from Hong Kong, India and US.
“…has been granted a patent each from Hong Kong and the US and two from India for treatment of disorders associated with neurodegenerative diseases,” the pharma company said in its filing.
The patents are valid till 2032, 2030 and 2034, respectively, it added.
“We are very pleased by the grant of these patents to Suven for our pipeline of molecules in the CNS (central nervous system) arena, which are being developed for cognitive disorders with high unmet medical need with a huge market potential globally,” Suven Life CEO Venkat Jasti said.
The granted claims of the patents are being developed as therapeutic agents and are useful in the treatment of cognitive impairment associated with neurodegenerative disorders like Alzheimer’s, attention deficit hyperactivity disorder (ADHD), Huntington’s disease, Parkinson’s and Schizophrenia.
At 14:34 hours IST, the stock price was quoting at Rs 198.35, up Rs 7.60, or 3.98 percent on the BSE.