The share price of Suven Life Sciences rallied up by 6% in the Tuesday morning trading hours after the news of its securing a product patent hit the market. Around 10:50 AM, Suven Life Sciences was trading at 1192.30, 6.30% above its market opening price.
The filing made to BSE states that Suven Life Sciences has secured a product patent from New Zealand for the development of medication to treat neurodegenerative disorders. These patents are valid until the year 2034.
“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 cognitive disorders with high unmet medical need with huge market potential globally,” says Venkat Jasti, CEO of Suven.
The news seems to be perceived well by the market with stock prices appreciating considerably.
Suven Life Sciences Ltd is currently trading at Rs 191.9, up by Rs 10.9 or 6.02% from its previous closing of Rs 181 on the BSE. The scrip opened at Rs 181.85 and has touched a high and low of Rs 198.8 and Rs 179.85 respectively. The stock is currently trading above its 200 DMA.
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