HYDERABAD, INDIA (15 Nov 2012) – SUVEN LIFE Sciences Limited, a biopharmaceutical company specializing in drug discovery and developmental activities in Central Nervous System disorders, today announced its un-audited financial results for the quarter ended 30th Sept 2012. The un-audited financial results were reviewed by the audit committee and approved by the Board of Directors in their meeting held on 14th Nov, 2012 at Hyderabad.
Financial Highlights for the 2nd Quarter ended September 2012:
Growth in revenue Rs 503 mil vs.Rs 480 mil - Up by 4.61%
Growth in PAT Rs 64 mil vs. Rs 25 mil - Up by 153%
Growth in EBIDTA Rs 110 mil vs. Rs 40 mil - Up by 174%
Financial Highlights for the Half year ended September 2012:
Growth in revenue Rs 1208 mil vs.Rs 927 mil - Up by 30%
Growth in PAT Rs 145 mil vs. Rs 59 mil - Up by 144 %
Growth in EBIDTA Rs 249 mil vs. Rs 94 mil - Up by 165 %
Suven’s major thrust on innovative R&D in Drug Discovery continues with a spending of Rs 156 mil (13% on revenue) for the half year ended Sept ’ 2012.
During the quarter the major qualitative achievement include Suven getting Pharmexcil’s “Platinum Patent Award” for securing the most number of product and process patents under overall category, fourth year in a row. Suven has a patent profile of 18 inventions, 541 product patents and 36 process patents. The product profile has 13 molecules with one molecule having completed phase 1 study, is in the process of moving into phase 2a, proof of concept study.
For more information on Suven please visit our Web site at http://www.suven.com
Except for historical information, all of the statements, expectations and assumptions, including expectations and assumptions, contained in this news release may be forward-looking statements that involve a number of risks and uncertainties. Although Suven attempts to be accurate in making these forward-looking statements, it is possible that future circumstances might differ from the assumptions on which such statements are based. Other important factors which could cause results to differ materially including outsourcing trends, economic conditions, dependence on collaborative partnership programs, retention of key personnel, technological advances and continued success in growth of sales that may make our products/services offerings less competitive