Suven Life Sciences rose 6.13% to Rs 37.25 at
The company made this announcement during market hours today
Meanwhile, BSE Sensex was down 14.87 points or 0.09% to 16,108.28.
On BSE, 7.44 lakh shares were traded in the counter. The scrip had an average daily volume of 9.38 lakh shares in the past one quarter.
The stock hit a high of Rs 38.60 and a low of Rs 31.60 so far during the day. The stock had a 52-week high of Rs 64.45 on
The company’s current equity is Rs 11.57 crore. Face value per share is Rs 1.
The current price of Rs 37.25 discounts Q3 December 2007 annualised EPS of Rs 0.7 by a PE multiple of 53.21.
As per the terms of the collaboration agreement with Eli Lily, Suven will receive research funding and as well as potential discovery and development milestone payments in the range of $19 million to $23 million per candidate and potential royalties on net sales of any products that may be successfully commercialized under the collaboration. The drugs under discovery will be in the central nervous system segment.
Suven Life Sciences net profit declined 47.5% to Rs 2.01 crore on 12% decline in sales to Rs 27.46 crore in Q3 December 2007 over Q3 December 2006.
Suven Life Sciences’ principal activity is to design, manufacture and the supply of bulk active, drug intermediates and fine chemicals to the life science industry. The company mainly operates in the
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