Suven Life Sciences, a biopharmaceutical company, has suffered setback during the year ended March 2010 on account of higher R&D cost, lower CRAMS revenue as well as other income. Its EBDITA declined sharply by 39.7 per cent to Rs 13.05 crore from Rs 21.63 crore in the previous year. Its net profit, however, declined marginally by 1.7 per cent to Rs 7 crore from Rs 7.12 crore. The company's other income declined to Rs 0.49 crore from Rs 5.35 crore The company management recommended equity dividend of 25 per cent for share of face value of Re 1 each (Re 0.25 per share).
The company's income from sales & services declined by 7.7 per cent to Rs 129.82 crore during 2009-10 from Rs 140.83 crore. Its income from CRAMS declined by 19.6 per cent to Rs 96.33 crore from Rs 119.81 crore due to postponement of projects by the sponsors because of the global meltdown during 2009. Its sales from DDDSS went up by 58.2 per cent to Rs 33.27 crore from Rs 21.02 crore.
Its R&D expenditure increased to Rs 34.16 crore from Rs 29.46 crore, a growth of 15.9 per cent. Its major thrust on innovative R&D in Drug Discovery continues in 2009-10 also. It received product patent from USA and European Union for its drug discovery pipeline which consists of 12 molecules on 6 targets in CNS arena. These patents are valid until 2025 in addition to the clinical candidate SUVN-502 for Alzheimer's and Schizophrenia.