Suven Life Science's revenues increased by 47 per cent to Rs 27.97 crore for the second quarter ending September 2006 compared to Rs 20.40 crore for the corresponding quarter of the previous year and the profit after tax (PAT) went up by 53 per cent from Rs 1.63 crore to Rs 2.52 crore.
For the half-year ending September 2006 the revenues went up by 47 per cent to Rs 53.59 crore from Rs 36.34 crore for the corresponding period of the previous year. The profit after tax (PAT) increased by 52 per cent from Rs 3 crore to Rs 4.57 crore.
Suven has spent an amount of Rs 7.88 crore on R&D expenditure which is at 14.7 per cent of the total revenues.
Suven is a Hyderabad based life sciences company, a collaborative research partner (CRP) in drug discovery for global pharma majors. It has been a pioneer in Contract Research and Manufacturing Services (CRAMS) since 1995 and Drug Discovery Development Support Services (DDDSS) since 2005.
Suven has presented the data of its new chemical entities (NCEs) for Alzheimer's and Obesity, SUVN 502, SUVN 504 and SUVN 507 at Society for Neurosciences (SFN) during October 2006 at Atlanta, USA. So far eight global pharmaceutical majors have showed keen interest in collaborating for these molecules for further development.