Suven Life Sciences shares up over 4 per cent after new patents

MUMBAI: Shares of drug firm Suven Life Sciences today rose by over 4 per cent after the company received one product patent each from the US and South Korea for CNS molecule which could be used for treating various central nervous system disorders.

The drug firm's scrip ended 4.27 per cent higher at Rs 190.40 on the BSE. During the day, it gained 5.42 per cent to Rs 192.50.

At the NSE, the stock moved up by 4.24 per cent to end at Rs 190.60.

On the volume front, 3.95 lakh shares of the company changed hands at the BSE, while over 15 lakh shares were traded at the NSE during the day.

The product patents are valid through 2030, Suven Life Sciences said in a filing to the BSE.

"The granted claims of the patents include the class of selective alpha-4-beta-2 compounds discovered by Suven and are being developed as therapeutic agents for major depressive disorder (MDD)," it added.

Commenting on the development, Suven CEO Venkat Jasti said: "We are very pleased by the grant of these patents to Suven for our pipeline of molecules in CNS arena that are being developed for Major Depressive Disorder (MDD) with high unmet medical need with huge market potential globally."