HYDERABAD, INDIA (11 Nov’ 2013) – SUVEN LIFE Sciences Limited, a biopharmaceutical company specializing in drug discovery and developmental activities in Central Nervous System disorders, and Contract Research and Manufacturing Services ( CRAMS) company today announced its un-audited financial results for the quarter ended 30th Sept 2013. The un-audited financial results were reviewed by the audit committee and approved by the Board of Directors in their meeting held on 11th Nov 2013 at Hyderabad.
Financial Highlights for the 2nd Quarter ended Sept’ 2013:
Growth in revenue Rs 1515 Mn vs.Rs 503 Mn - Up by 202%
Growth in PAT Rs 455 Mn vs. Rs 65 Mn - Up by 602%
Growth in EBIDTA Rs 715 Mn vs. Rs 110 Mn - Up by 550%
Financial Highlights for the Half year ended Sept’ 2013:
Growth in revenue Rs 2634 Mn vs.Rs 1209 Mn - Up by 118%
Growth in PAT Rs 753 Mn vs. Rs 144 Mn - Up by 421%
Growth in EBIDTA Rs 1177 Mn vs. Rs 249 Mn - Up by 374%
The growth in profit was a result of one new product, in addition to 2 products already commercialized during first quarter, totaling 3 products under CRAMS.
Suven’s major thrust on innovative R&D in Drug Discovery continues with a spending of Rs 258 Mn (9.80% on revenue) for the Half year ended Sept’ 2013.
SUVN-502 entered phase 1b clinical trial in USA.
For more information on Suven please visit our Web site at http://www.suven.com
Risk Statement:
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;
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