Shares of Suven Life Sciences surged over 7 per cent in Tuesday's trade as the company has received a patent from New Zealand for a drug used for the treatment of neuro-degenerative diseases.

The stock opened at Rs 181.85, touched an intraday high of Rs 198.80 and a low of Rs 179.85. At 1.30 pm local time, the company shares were trading higher by 5.22 per cent at Rs 190.45 on the BSE. On the NSE, the shares were up 5.22 per cent at Rs 190.35.

In a BSE filing today, Suven Life said it has been granted “one product patent from New Zealand corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with neuro-degenerative diseases''.

The patents are valid till 2034, the company added.