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Suven Life Sciences to incorporate overseas subsidiary

By Religare
|

Suven Life Sciences Ltd said that it has received an approval to create an overseas subsidiary with an initial investment of USD 25 million for clinical development and commercialization of Suven pipeline and in-licensed molecules.

The board of directors at their meeting held on August 14, 2015 has approved for the same, the company said in a filing to the Bombay Stock Exchange.

Suven Life Science is a biopharmaceutical company focused on discovering, developing and commercializing novel pharmaceutical products, which are first in class or best in class CNS therapies through the use of GPCR targets.

 

Meanwhile, shares of the company were trading at Rs 247.15 a piece, down 3.08 per cent from the previous close at 11:19 hours on BSE.

Story first published: Monday, August 17, 2015, 12:30 [IST]
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