Suven Life Sciences spurts on strategic alliance with Chinese firm

Suven Life Sciences jumped 9.85% to Rs 33.45 at 15:25 IST on BSE after the company said its clinical research division has entered into a pact with China-based VPSCRO, to conduct clinical trial services in India and China.

The stock hit a high of Rs 33.45 and a low of Rs 33.45 so far during the day. The stock had a 52-week high of Rs 64.45 on 28 December 2007 and a 52-week low of Rs 28 on 19 October 2007.

The company’s current equity is Rs 11.57 crore. Face value per share is Rs 1.

The current price of Rs 33.45 discounts its Q3 December 2007 EPS of Rs 0.70 with a PE multiple of 47.79.

On 31 March 2008, Suven Life Sciences secured patent rights in Mexico and Korea for two of its new chemical entities for the treatment of disorders associated with neurodegenerative diseases.

Suven Life Sciences net profit declined 47.5% to Rs 2.01 crore on 12% fall in net 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 USA, Europe, Asia and India.