Suven Life

The stock was in the limelight yesterday, ending the day some 6.5% higher. Just last week, on 17th March, the stock had hit a new high at Rs.322.90. This optimism on the counter was after the company announced that it has secured three product patents for its new chemical entities in Canada, Japan and Korea. With these new patents, Suven has a total of 18 granted patents from Canada, sixteen 16 granted patents from Japan, and 16 product patents from Korea.

This biopharmaceutical company specializing in drug discovery and developmental activities in Central Nervous System disorders ended Q3FY15 on a low note. Though revenue rose 9% (YoY) at Rs.131 crore, the rest of the earnings were down. EBITDA was down 9% at Rs.51 crore and net profit was also down 9% at Rs.131 crore. This fall in net profit was attributed to charge of additional depreciation. During the quarter, the company spent Rs.41 crore, which was 10% of the revenue on innovative R&D in Drug Discovery.