Suven gains on grant of license to market Malathion lotion - The New Indian Express

Suven gains on grant of license to market Malathion lotion

Published: 04th March 2014 02:19 PM

Last Updated: 04th March 2014 02:19 PM

Suven Life Sciences shares gained on Tuesday after it has granted a license and right to distribute and market its Malathion lotion USP 0.5% w/v with US patent 8,138,366 and ANDA 091559 in USA, Canada and Mexico to Taro Pharmaceuticals North America, a subsidiary of Taro Pharmaceutical Industries.

Malathion lotion is indicated for patients infected with Pediculus humanus capitis (head lice and their ova) of the scalp hair. In consideration for the exclusive license and right to distribute and market Malathion lotion 0.5%w/v USP in North America, Taro will pay Suven a royalty and the arrangement is effective until April 2028 unless otherwise terminated.

Shares of the company are trading at Rs 74.65, up Rs 1.4, or 1.91% at the Bombay Stock Exchange (BSE) on Tuesday at 12:58 p.m.The scrip has touched an intra-day high of Rs 77 and low of Rs 72.45. The total volume of shares traded at the BSE is 210,507.In the earlier session, the shares lost 2.66%, or Rs 2, at Rs 73.25.Currently, the stock is trading down 10.49% from its 52-week high of Rs 83.40 and above 239.32% over the 52-week low of Rs 22.

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