Suven Life Sciences, a Hyderabad based biopharmaceuticals company specializing in drug discovery and developmental (DDDSS) activities in CNS and contract research and manufacturing services (CRAMS), has posted lower net profit of Rs.29.57 crore during the first quarter ended June 2017 as against Rs.32.58 crore in the same quarter of last year, a de-growth of 9.2 per cent. Its net sales increased marginally by 3.2 per cent to Rs.137.45 crore from Rs.133.23 crore. EPS worked out to Rs.2.32 as compared to Rs.2.55 in the last period.
The sales from CRAMS increased by 4.4 per cent to Rs.133.31 crore from Rs.127.66 crore and that from DDDSS moved up by 38.7 per cent to Rs.7.71 crore from Rs.5.56 crore. Its R&D expenditure increased to Rs.16.01 crore from Rs.14.69 crore.
SUVN-502 phase 2A clinical trial, indicated for patients with moderate Alzheimer's initiated in 76 investigatory sites in USA and so far enrolled 269 patients in the study. Suven initiated phase 1 trials for SUVN-911, the molecule indicated for major depressive disorder. It secured 6 product patents covering Australia, USA, Israel, Macau and South Korea.
Suven life sciences
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