Suven Pharmaceuticals buys US-based firm

Suven Pharmaceuticals' wholly owned subsidiary, Suven Life Sciences USA, has acquired the assets of the US-based Synthon Chiragenics, according to a release issued by Suven Pharmaceuticals to the BSE on Tuesday.

New Jersey-based Synthon Chiragenics is the leader in carbohydrate based chiral technology enabling discovery development and manufacture of pharmaceuticals, the release said.

This is a significant step forward for Suven in its ambition to emerge as a leading full spectrum provider of drug discovery related services by 2005, it added.

The stock surged 10.51% (Rs 13.70) to Rs 144 on the BSE in the afternoon.