Shares of Suven Life Sciences jumped as much as 5 per cent to Rs 245 after the company reported that it had got patent for neuro-degenerative drug.
Pharmaceutical firm Suven Life Sciences has been granted a patent each by Eurasia and Israel for drug used in the treatment of neuro-degenerative diseases.
Neuro-degenerative ailments include Alzheimer's disease, Schizophrenia and Parkinson's disease.
In a BSE filing, the company said it has received "grant of one product patent from Eurasia and one product patent from Israel corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with neuro-degenerative diseases."
These patents are valid until 2029 and 2030 respectively, it added.
"We are very pleased by the grant of these patents to Suven for our pipeline of molecules in the CNS (central nervous system) arena that are being developed for major depressive disorder (MDD) with high unmet medical need with huge market potential globally," Suven Life Sciences CEO Venkat Jasti said.
The shares of Suven Life Sciences ended 0.45 per cent higher at Rs 234. The stock outperformed the Nifty which ended 2 per cent lower.
(With PTI inputs)