Suven Life surges 5.5% on neurological drug patent boost

Shares of Suven Life Sciences

soared 5.5 per cent today after the company received a patent

from New Zealand for a drug used for treatment of neuro-

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degenerative diseases.

The stock climbed 5.50 per cent to settle at Rs 190.95 on

BSE. During the day, it jumped 9.83 per cent to Rs 198.80.

On NSE, shares of the company advanced by 5.44 per cent

to close at Rs 190.75.

In terms of equity volume, 3.29 lakh shares of the

company were traded on BSE and over 21 lakh shares changed

hands on NSE during the day.

In a BSE filing today, Suven Life said it has been

granted "one product patent from New Zealand corresponding to

the New Chemical Entities (NCEs) for the treatment of

disorders associated with neuro-degenerative diseases".

The patents are valid till 2034, the company added.

Suven Life CEO Venkat Jasti said: "We are very pleased by

the grant of these patents to Suven for our pipeline of

molecules in the CNS arena, which are being developed for

cognitive disorders with high unmet medical need with a huge

market potential globally."

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)