Mumbai, Mar 14 (PTI) Shares of Suven Life Sciences surged 5 per cent today as the company has been granted a patent each by China, Eurasia and Hong Kong for a drug used in the treatment of neuro-degenerative diseases.
The stock soared 5 per cent to Rs 211 on BSE. On NSE, shares of the company climbed 4.74 per cent to Rs 210.90.
The company has been granted "one product patent from China, one product patent from Eurasia and one product patent from Hong Kong corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with neuro-degenerative diseases", it said in a BSE filing.
The patents will be valid till 2032. "We are very pleased by the grant of these patents to Suven for our pipeline of molecules in the CNS (central nervous system) arena, which are being developed for cognitive disorders with high unmet medical need with a huge market potential globally," said Venkat Jasti, CEO Suven Life.