Suven Life Sciences modestly higher after company bags two product patents

Last Updated: Tue, Nov 22, 2016 11:36 hrs
Suven Life Sciences (Reuters image)

Suven Life Sciences has announced that it has bagged one product patent from China and one product patent from Mexico corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases.

These patents are valid through 2032 and 2031 respectively, Suven Life Sciences said.

Suven Life Sciences is scheduled to announce its September 2016 quarter results on Thursdy (November 24). In the June 2016 quarter, Suven Life Sciences posted a net profit of Rs 32.6 crore, up 58.12% compared to year-ago quarter. However, sequentially, net profit was down 12.38% compared to net profit of Rs 37.2 crore it had recorded in the March 2016 quarter.

Suven Life Sciences is currently trading at Rs 168, up 0.8% from Monday's closing price. The stock touched a high of Rs 170 earlier this morning, after having opened at Rs 166.65.

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