Suven Life Sciences gains on bagging overseas patent rights

Suven Life Sciences surged 3.89% to Rs 34.75 at 11:30 IST on BSE after the company said it has secured two product patents for its experimental drug in South Africa and China.

The stock hit a high of Rs 35.85 and a low of Rs 33 so far during the day. The stock had a 52-week high of Rs 64.45 on 28 December 2007 and the stock hit 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 34.75 discounts its Q4 March 2008 annualised EPS of Rs 0.67, by a PE multiple of 51.87.

On 5 May 2008, Suven Life Sciences received European product patent from European Patent Office for its clinical candidate SUVN-502.

In April 2008, Suven Life Sciences’ clinical research division entered into a pact with China-based VPSCRO, to conduct clinical trial services in India and China.

In March 2008, the company 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 33.3% to Rs 1.94 crore on 24.4% growth in net sales to Rs 35 crore in Q4 March 2008 over Q4 March 2007.

Suven Life Sciences is engaged in 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.