Suven Life Sciences on Tuesday said it has secured a product patent in New Zealand for treatment of disorders associated with neurodegenerative diseases. The patent is valid up to 2033, the company said in a press release. The patent is for the class of selective “5HT4” compounds used in the treatment of disorders, such as Alzheimer’s, Huntington’s, and Parkinson’s diseases, among others. With this patent, Suven Life now has a total of 26 granted patents from New Zealand. Products out of these inventions may be out-licensed at various phases of clinical development, such as at Phase-I or Phase-II, the company said. Shares of Suven Life Sciences gained 0.5 per cent at ₹168.75 on the NSE.

APL Apollo Tubes has started commercial production at its new plant in Raipur, Chhattisgarh, the company said in a notice to the exchanges. The company will produce galvanised steel tubes, hollow sections, and galvanised sheets at the new unit, which has a total capacity of 60,000 tonnes per annum. Total cost incurred on the unit was estimated at ₹75 crore, it said. Shares of APL Apollo Tubes closed at ₹1,183.30 on the NSE, up 1.56 per cent over the previous day’s close.

V-Guard Industries on Tuesday said the company’s board has given in-principle approval to acquire majority stake in GUTS Electro-Mech. Hyderabad-based GUTS Electro-Mech manufactures and markets various domestic switch gears and transformers, V-Guard Industries said in an exchange filing. The acquisition is subject to the completion of due diligence and approvals from regulatory bodies, the company said. Shares of V-Guard Industries edged up 0.98 per cent at ₹170.20 on the NSE.

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