Shares of Suven Life Sciences rose over 4 per cent on Bombay Stock Exchange (BSE) after the company announced it secures three product patents two from Canada and one from China for a drug used in the treatment of neuro-degenerative diseases.
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The patents are valid until 2029 and 2030, respectively, Suven Life Sciences said in a filing to the BSE.
"The company grant of two product patents from Canada and one product patent from China corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases," Suven Life Sciences said in a press release.
Reacting to the news, shares of the company gained 4.44 per cent to Rs 242.20 a piece on BSE.
In a similar trend, shares of the company surged 3.93 per cent to Rs 241.95 a piece on National Stock Exchange.
Meanwhile, the broader benchmark BSE Sensex was trading at 25,848.45, up 142.52 points, or 0.55 per cent at 11.00 hours.