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Suven Gets 1st US Product Patent
Posted by Pradeep Sadanapalli | December 30, 2007 | 326 views
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Loading ...SUVEN Life Sciences on Thursday announced that it has received its first US product patent for compounds it is developing to treat disorders of the central nervous system (CNS), sending its shares up nearly 20% on the BSE.
The Hyderabad-based drug company said in a statement that the compounds it has discovered are useful in treating disorders such as Alzheimer’s, Parkinson’s, Schizophrenia and Huntington’s.
“We are very pleased by the issuance of the patent to Suven by the US Patent office for our drug candidates that are being developed for CNS disorders targeting a $18-billion market opportunity,” the statement quoted CEO Venkat Jasti as saying.
Suven has filed 29 product patent applications through the patent co-operation treaty and has been granted five product patents so far.
Six drug candidates discovered by the company to treat conditions such as attention-deficit hyperactivity disorder, dementia, depression, Huntington’s disease, Parkinson’s disease and obesity are in preclinical stages, the statement said. The company’s share closed at Rs 55.55 on the Bombay Stock Exchange, up 19.2%.
SOURCES:
Economic Times
Topics: Health, Business News |
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