MIRA INFORM REPORT

Report Date :

30.11.2011

IDENTIFICATION DETAILS

Name :	SUVEN LIFE SCINECES LIMITED
Registered Office :	Door No.8-2-334, 6^th floor, SDE Serrene Chambers, Road No.7, Banjara Hills, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	09.03.1989
Com. Reg. No.:	01-009713
Capital Investment / Paid-up Capital :	Rs.116.732 Millions
CIN No.: [Company Identification No.]	L24110AP1989PLC009713
Legal Form :	A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.
Line of Business :	Manufacturers of Cyano Acetic Acid, Methyl Cyano Acetate, Theophyline Caffeine, Nitroso Compound and Other Products.

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 5100000
Status :	Good
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a well established company having good track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

LOCATIONS

Registered Office :	Door No.8-2-334, 6^th floor, SDE Serrene Chambers, Road No.7, Banjara Hills, Andhra Pradesh, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	info@suven.com kh_rao@yahoo.com
Website :	http://www.suven.com
Factory 1 :	Dasaigudem (V), Suryapet (M), Nalgonda Dist, Andhra Pradesh - 508 213
Factory 2 :	Plot No.262, 263 IDA, Pashamylaram, Isnapur, Medak
Research Centre 1 :	Plot No.18/B, Phase III, IDA Jeedimetla, Hyderabad - 500 055, Andhra Pradesh, India
Research Centre 2 :	Bio-Pharmaceutical Lab, 5th Floor, SDE Serene Chambers, Road No.5, Banjara Hills, Hyderabad

DIRECTORS

AS ON 31.03.2011

Name :	Mr. Venkateswarlu Jasti
Designation :	Chairman and Chief Executive Officer

Name :	Mrs. Sudha Rani Jasti
Designation :	Wholetime Director

Name :	Mrs. Sudha Rani Jasti
Designation :	Director

Name :	Dr. K.V. Raghavan
Designation :	Director

Name :	Shri D.G. Prasad
Designation :	Director

Name :	Dr. Martin Tolar
Designation :	Director
Name :	Dr. Syed E Hasnain
Designation :	Director

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on : 30.09.2011

Names of Shareholders	No. of Shares	Percentage of Holding
(A) Shareholding of promoters and Promoter Group
1. Indian
Individuals / Hindu Undivided Family	74052828	63.44
Bodies Corporate	74052828	63.44
Sub Total (A) (1)
(B) Public Shareholding
1. Institutions
Mutual Funds / UTI	18000	0.02
Foreign Institutional Investors	427517	0.37
Sub Total (B) (1)	445517	0.38
2. Non Institutions
Bodies Corporate	4435474	3.80
Individual shareholders holding nominal share capital up to Rs. 0.100 million	28683618	24.57
Individual shareholders holding nominal share capital in excess of Rs. 0.100 million	1491507	1.28
Any others (Specify)	7623024	6.53
Non Residents
NRI Rep	7604984	6.51
Clearing Members	5306	0.00
Trust	12734	0.01
Sub Total (B) (2)	42233643	36.18
(B) = (B) (1) + (B) (2)	42679160	36.56
Shares held by custodians and against which depository receipts have been issued (C)	--	--
Total (A) + (B) +(C)	116731988	100.00

BUSINESS DETAILS

Line of Business :

Manufacturers of Cyano Acetic Acid, Methyl Cyano Acetate, Theophyline Caffeine, Nitroso Compound and Other Products.

Products :

Particulars	Item No.
Theobromine	29420031
Doxofylline	29420090
Cyano Acetic Acid	29269000

GENERAL INFORMATION

Bankers :

· State Bank of India, Overseas Branch Abids, Hyderabad, India

· State Bank of Patiala, Commercial Branch Atlanta, Nariman point, Mumbai - 400 021, Maharashtra, India

· Bank of India, CMC Branch Tarapore ,Towers Anna Salai, Chennai - 600 002, India

Facilities :

Secured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
Corporate Loan from S.B.I. (Foreign Currency Loan)	0.000	37.588
Corporate Loan From S.B.I. secured by first and Pari-pasu charge on Land, Buildings, Plant and Machinery and Second charge on stocks, receivables and other current assets	70.731	200.540
Corporate Loan From State Bank of Patiala secured by first and Pari-pasu charge on Land, Buildings, Plant and Machinery and Second charge on stocks, receivables and other current assets.	200.000	0.000
Corporate Loan From Bank of India secured by first and Pari-pasu charge on Land, Buildings, Plant and Machinery and Second charge on stocks, receivables and other current assets.	149.996	0.000
Working Capital Loans from S.B.I Secured by first charge on Raw Materials, Stock in Process, Finished Goods, Receivables and Book Debts and second charge on Land, Buildings and Plant and Machinery.	220.841	196.452
Total	641.568	434.580
Unsecured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
-- From Directors	16.000	66.046
Total	16.000	66.046

Banking Relations :	----
Auditors :
Statutory Auditor :	Karvy and Company Chartered Accountant
Address :	No.2, Bhooma Plaza, Street No.4, Avenue 7, Banjara Hills, Hyderabad – 500034, Andhra Pradesh, India
Cost Auditor :	DZR and Company Cost Accountants
Address :	216, HMT Satavahana Nagar, Kukatpally, Hyderabad – 500072, Andhra Pradesh, India
Enterprises in Which the company has substantial interest :	M/s Suven Nishtaa Pharma Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
200000000	Equity Shares	Rs.1/- each	Rs. 200.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
116731988	Equity Shares	Rs.1/- each	Rs.116.732 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		116.732	115.874	115.874
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		1150.642	1064.729	1028.503
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1267.374	1180.603	1144.377
LOAN FUNDS
1] Secured Loans		641.568	434.580	431.105
2] Unsecured Loans		16.000	66.046	0.000
TOTAL BORROWING		657.568	500.626	431.105
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		1924.942	1681.229	1575.482
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1056.777	1095.608	1122.598
Capital work-in-progress		33.957	34.001	35.718
INVESTMENT		203.903	115.985	62.315
DEFERREX TAX ASSETS		76.659	4.427	2.579
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	333.656	304.900	272.043
	Sundry Debtors	313.738	326.099	213.975
	Cash & Bank Balances	29.463	22.309	12.327
	Other Current Assets	187.210	143.367	138.942
	Loans & Advances	0.975	0.795	0.896
Total Current Assets		865.042	797.470	638.183
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000	0.000	0.000
	Other Current Liabilities	241.210	303.514	223.721
	Provisions	70.186	62.747	62.190
Total Current Liabilities		311.396	366.262	285.911
Net Current Assets		553.646	431.208	352.272
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		1924.942	1681.229	1575.482

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	1504.339	1293.116	1399.354
		Other Income	12.574	4.939	53.504
		TOTAL (A)	1516.913	1298.055	1452.858
Less	EXPENSES
		Material Consumed	554.985	429.430	496.679
		Manufacturing Expenses	208.272	159.482	6.381
		Research and Developments	311.435	341.507	168.474
		Clinic Projects Expenses	3.021	3.117	294.604
		Personnel Expenses	178.208	153.411	152.812
		Selling Expenses	26.195	19.276	24.927
		Administrative and Other Expenses	92.088	93.290	89.903
		Increase / Decrease in Stock	(5.343)	(40.828)	(8.600)
		TOTAL (B)	1368.861	1158.685	1284.181
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		148.052	139.373	168.677
Less	FINANCIAL EXPENSES (D)		61.052	49.403	67.494
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		87.000	89.970	101.183
Less/ Add	DEPRECIATION/ AMORTISATION (F)		54.456	52.914	50.215
	PROFIT BEFORE TAX (E-F) (G)		32.544	37.056	50.968
Less	TAX (H)		(71.451)	32.950	20.255
	PROFIT AFTER TAX (G-H) (I)		103.995	70.006	71.223
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		176.481	147.355	120.024
Less	APPROPRIATIONS
		Transfer to General Reserve	11.000	7.100	10.000
		Dividend	4.734	4.811	28.969
		Tax on Dividend	0.028	0.000	4.923
	BALANCE CARRIED TO THE B/S		235.362	176.481	147.355
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	1119.589	834.031	1078.304
	TOTAL EARNINGS		1119.589	834.031	1078.304
	IMPORTS
		Raw Materials	214.612	151.539	243.356
		Stores & Spares	25.786	10.439	31.908
	TOTAL IMPORTS		240.398	161.978	275.264
	Earnings Per Share (Rs.)		0.89	0.60	0.62

QUARTERLY / SUMMARISED RESULTS

PARTICULARS	30.06.2011	30.09.2011
	1^st Quarter	2^nd Quarter
Net Sales	480.440	446.330
Total Expenditure	456.600	394.620
PBIDT (Excl OI)	23.840	51.710
Other Income	16.230	2.030
Operating Profit	40.070	53.740
Interest	19.300	16.360
Exceptional Items	0.000	0.000
PBDT	20.770	37.380
Depreciation	14.000	13.870
Profit Before Tax	6.770	23.510
Tax	(18.840)	(10.100)
Provisions and contingencies	0.000	0.000
Profit After Tax	25.610	33.610
Extraordinary Items	0.000	0.000
Prior Period Expenses	0.000	0.000
Other Adjustments	0.000	0.000
Net Profit	25.610	33.610

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	6.85	5.39	4.90
Net Profit Margin (PBT/Sales)	(%)	2.16	2.86	3.64
Return on Total Assets (PBT/Total Assets}	(%)	2.37	1.95	2.89
Return on Investment (ROI) (PBT/Networth)		0.02	0.03	0.04
Debt Equity Ratio (Total Liability/Networth)		0.76	0.73	0.62
Current Ratio (Current Asset/Current Liability)		2.77	2.17	2.23

LOCAL AGENCY FURTHER INFORMATION

REVIEW OF OPERATIONS

During the year the company has recorded a total income of Rs. 1522.256 millions comprising exports revenue of Rs. 1360.137 millions, domestic revenue of Rs. 144.202 millions, other income of Rs. 12.574 millions and increase in stocks of Rs. 5.343 millions. The company made profit after tax of Rs. 103.995 millions for the financial year ended 31st March 2011, despite regular spend on Discovery R and D activities to the tune of Rs. 333.879 millions representing nearly 22.10% to turnover of the company.

MANAGEMENT DISCUSSION AND ANALYSIS

INDUSTRY OUTLOOK AND OPPORTUNITIES — GLOBAL

The global pharmaceutical market sales are expected to grow at a 4 - 7% compound annual growth rate (CAGR) through 2013. Global pharmaceutical market value is expected to expand to $975+ billion by 2013.

The pharma market world over will experience significant shifts. Asia-Pacific region will emerge as the fastest growing pharmaceutical market over the recent past. The reason for this positive shift can be attributed to the low costs and favorable regulatory environment. This region has experienced important developments regarding contract manufacturing, especially in generics and APIs. Increased R and D activities in the region may be expected grow at a CAGR of around 12.6% during 2010-2012 in the Asia-Pacific pharmaceutical industry. It can, in fact, become the global API production hub in next few years.

The year 2010 was shaped with challenges for the pharmaceutical industry post global recession continuing to put pressure on drug discovery, compliance and customer interactions. These pressures have been further escalated by ongoing industry challenges including an anemic drug pipeline.

In addition, most large pharmaceutical companies are facing a high proportion of patent expirations between 2011 and 2014, which is expected to have negative impact over $150 billion of revenues of branded drugs. Demand from emerging markets is also shifting traditional sales and marketing practices.

Technology will help pharmaceutical companies overcome the big challenges with shrinking drug pipelines; companies are investing in better collaboration, standardization and analytical tools to improve R and D productivity. Discovery centric companies are using next generation sequencing technologies to fail fast and fail cheaper in their quest to identify the right target drug candidate. Global Parma majors are collaborating with external partners for research as in-house research is not delivering results as quickly.

SUVEN has already gained experience in Collaborative Research Partnership (CRP) with Eli Lilly a global Parma major and endeavors to sign up more such collaborative research partnerships with global Parma majors in the years to come.

INDUSTRY OUTLOOK AND OPPORTUNITIES — INDIA

The Indian pharmaceutical industry is one of the fast growing sectors of the Indian economy and has made rapid strides over the years. From being an import dependent industry in the 1950s, the industry has achieved self-sufficiency and gained global recognition as a producer of low cost high quality bulk drugs and formulations. Leading Indian companies have developed infrastructure in over 60 countries including developed markets like US and Europe. In the recent past, several pharmaceutical companies have demonstrated that they possess the ability to engage in commercially viable research and development activities and become significant players in the international market.

SWOT ANALYSIS

STRENGTHS

_ Low labor costs as well as highly educated people are the major strengths of the Indian Pharmaceutical Industry. With a very well developed and diverse education system, India produces students who can meet these requirements of Indian Pharmaceutical Industry.

_ Indian Pharmaceutical industry employs Cost effective technology and has Strong and well-developed manufacturing base

_ Cost effective Clinical research and trials

_ Availability of strong Knowledge based, low- cost manpower in science and technology

_ Proficiency in path-breaking research

_ High-quality formulations and drugs

WEAKNESSES

_ Low Indian share in world pharmaceutical market (about 2%)

_ Lack of strategic planning

_ Fragmented capacities

_ Low R and D investments

_ Absence of association between institutes and industry

OPPORTUNITES

_ Incredible export potential

_ Increasing health consciousness

_ New innovative therapeutic products

_ Globalization

_ Drug delivery system management

_ Contract manufacturing

_ Clinical trials and research

_ Drug molecules

THREATS

_ Small number of discoveries

_ Competition from MNCs

_ Transformation of process patent to product patent (TRIPS)

_ Outdated Sales and marketing methods

_ Non-tariff barriers imposed by developed countries

FINANCIAL AND OPERATING PERFORMANCE

During the year, the company has recorded a total income of Rs. 1522.256 millions comprising exports revenue of Rs. 1360.137 millions, domestic revenue of Rs.144.202 millions, other income of Rs. 12.574 millions and increase in stocks of Rs. 5.343 millions. The company made profit after tax of Rs.103.995 millions for the financial year ended 31st March 2011, despite regular spend on Discovery R and D activities to the tune of Rs. 333.879 millions representing nearly 22.10% to turnover of the company.

FIXED ASSETS :

· Free Hold Land

· Building and Factory

· Plant and Machinery

· Furniture and Fixtures

· Office Equipments

· Laboratory Equipments

· Vehicles

· E.T.P. Works

· Misc Fixed Assets

UN-AUDITED FINANCIAL RESULTS (PROVISIONAL) FOR THE QUARTER ENDED 30^TH SEPTEMBER, 2011

(Rs. In millions)

Particulars	Quarter Ended 30.09.2011 (Unaudited)	Half Year Ended 30.09.2011 (Unaudited)
(a) Net Sales/ Income from operation	480.438	926.766
(b) Other Operating Income	0.000	0.000
Total Income	480.438	926.766
2. Expenditure
a. Increase(-) /Decrease(+) in Stock in trade and W.I.P.	(9.273)	(10.335)
b. Consumption of Raw-Materials	167.855	353.266
c. Purchase of Traded Goods	0.000	0.000
d. Employees Cost	59.421	106.568
e. Depreciation	14.002	27.874
f. Other Expenditure	238.590	401.713
g. Total	170.595	879.086
3. Profit(+)/ Loss(-) from Operations before other Income Interest and Exceptional Item(1-2)	93.843	47.680
4. Other Income-Foreign Exchange Fluctuation-Gain/(Loss)	16.228	18.256
5. Profit(+)/ Loss(-) before Interest and Exceptional Item	26.071	65.936
6. Interest	19.297	35.655
7. Profit(+)/ Loss(-) after Interest but before Exceptional Item (5-6)	6.774	30.281
8. Exceptional Items	0.000	0.000
9. Profit(+)/ Loss (-) from ordinary activities before Tax (7-8)	6.774	30.281
10. Tax Expenses	(18.838)	(28.940)
11. Net Profit(+)/ Loss (-) from ordinary activities after Tax (9-10)	25.612	59.221
12. Extraordinary Items (Net of Tax Expense Rs.________)	0.000	0.000
13. Net Profit (+)/ Loss(-) for the period (11-12)	25.612	59.221
14. Paid Up Equity Share Capital (Face Value of Rs.10 Per Share)	116.732	116.732
15. Reserves excluding Revaluation Reserves as per Balance Sheet of Previous Accounting Year	0.00	0.00
16. Earning per Share (EPS)
a) Basic and diluted EPS before extraordinary items for the period, for the year to date and for the previous year (not annualised)	0.22	0.51
b) Basic and diluted EPS after extraordinary items for the period,for the year to date and for the previous year (not annualised)	0.22	0.51
17. Public Shareholding
Number of Shares	42679160	42679160
% of Share holding	36.56%	36.56%
18. Promoters and promoter group Shareholding
a) Pledged/Encumbered
- Number of shares	Nil	Nil
- Percentage of shares (as a % of the total shareholding of promoter and promoter group)	Nil	Nil
- Percentage of shares (as a % of the total share capital of the company)	Nil	Nil
b) Non-encumbered
- Number of shares	74052828	74052828
- Percentage of shares (as a % of the total shareholding of promoter and promoter group)	100.00%	100.00%
- Percentage of shares (as a % of the total share capital of the company)	63.44%	63.44%

SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED

Particulars	Quarter Ended 30.09.2011 (Unaudited)	Half Year Ended 30.09.2011 (Unaudited)
Manufacturing (CRAMS)	435.864	867.426
Services (DDDSS)	45.423	61.245
Research and Development	0.000	0.000
NET SALES FROM OPERATIONS	481.287	928.671
Profit/(Loss) before tax and interest:
a) Manufacturing (CRAMS)	151.259	283.990
b) Services (DDDSS)	27.999	34.833
c) Research and Development	(87.731)	(162.513)
TOTAL	91.506	156.310
i) Interest	19.297	35.655
ii) Other Un-allocable exps net off un-allocable Income	65.435	90.374
TOTAL PROFIT BEFORE TAX	6.774	30.281
CAPITAL EMPLOYED
Segment Assets - Segment Liabilities)
a) Manufacturing (CRAMS)	1256.639	1256.639
b) Services (DDDSS)	38.173	38.173
c) Research and Development	343.829	343.829
d) Net assets which are not segmented and used commonly	356.993	356.993
TOTAL	1995.634	1995.634

NOTE :

· The above un-audited results were approved and taken on record at the board at the board of director meeting held on 1^st, Nov 2011

· Status of Investor grievance – opening bal : Nil, Received : 24, Resolved : 23, Closing Bal : 1

· Previous Years Figures have been regrouped / Reclassified whenever Necessary

· The limited review has been completed by the statutory Auditors

· Provision for MTM Loses pertain to forward contracts entered for covering the future receivables in USD

BUSINESS DESCRIPTION

Suven Life Sciences Limited is an India-based company. The Company is engaged in the business of design, manufacture and supply of bulk actives, drug intermediates and fine chemicals. The Company operates in three segments: Manufacturing (CRAMS), which includes intermediates under contract services and products, are developed and produced on an exclusive basis under contract manufacturing services; Service (DDDSS), which consists of collaborative research projects (CRP), clinical trails and testing and analysis services, and Research and Development. The Company has operations in India, United States, Europe and Asia. In India, the Company sells bulk drugs and intermediates and fine chemicals. In the United States, the Company sells Intermediates. In Europe and Asia, the Company sells bulk drugs and intermediates. For the fiscal year ended 31 March 2010, Suven Life Sciences Limited's revenues decreases 11% to RS1.3B. Net income decreased 2% to RS70M. Revenues reflect a decrease in revenues from Manufacturing (CRAMS) segment. Net income was partially offset by a decrease in consumption of raw materials, lower manufacturing expenses, a decrease in administrative expenses, lower interest cost and the absence of exceptional items.

Venkateswarlu Jasti - Executive Chairman of the Board, Chief Executive – Chairman

Shri. Venkateswarlu Jasti serves as Executive Chairman of the Board, Chief Executive Officer of Suven Life Sciences Limited. He is a Post Graduate in Pharmacy from Andhra University, Visakhapatnam, and also a Post Graduate in Pharmacy from St. John University, New York, specializing in Industrial Pharmacy. Having registered himself as a Registered Pharmacist, he managed M/s Clinton Bergen Drug Company, M/s Park Way Central Pharma and M/s Kayes Drug Company, N J, USA. He was the president elect of Essex County Pharmaceutical Society of N J which no other Indian occupied till now. He returned from USA to India in 1988-89 and promoted this company in 1989. Since then, he been managing the company as Managing Director providing the right direction and leadership in developing technologies, upgrading the facilities , development of export markets etc. Mr. Jasti has been the Past President of Indian Pharmaceutical Association, and Chairman of Local Organizing Committee for the 52nd Indian Pharmaceutical Congress held at Hyderabad and was President of Bulk Drug Manufacturers Association of India (BDMA) till September, 2004. He was also the Ex-Chairman for Pharmexcil (Pharmaceutical Export Promotion Council) a statutory body for the promotion of exports of all pharma and biotech products which was set up by Govt. of India. Mr. Jasti is the Chief architect for the formation of A.P. Chief Minister's task force for Pharma during 2001 and responsible for the creation of Pharma City at Vizag by Govt of Andhra Pradesh and Pharmexcil (Pharmaceutical Export Promotion Council) head quartered at Hyderabad by Govt of India

Syed E. Hasnain - Independent Non-Executive Director - Director/Board Member

Prof. Dr. Syed E. Hasnain, FNA, FASc, FNASc, FIWAS, is Independent Non-Executive Director of Suven Life Sciences Ltd. He was appointed as Additional Director of the Company w.e.f. April 30, 2010. He is currently the Vice Chancellor of the University of Hyderabad. Before he became the vice chancellor in Dec. 1995 he was the first director of CDFD since 1999. He holds a Ph.D. degree from JNU [1980]. He also received post-Doctoral Fellowship from the University of Alberta, Canada. He has been nominated by the Prime minister of India for the membership of the Scientific Advisory Council to the Prime Minister, the highest decision and policy making body for Science and Technology for the country. He is also the recipient of Padmashri award from President Abdul Kalam. His Scholarly pursuits and Distinctions include: Elected Fellow, German National Academy of Scienecs Leopoldina, Fellow, Third World Academy of Sciences (TWAS), Member, Scientific Advisory Council to the Union Cabinet, J C Bose National Fellow, University of HyderabaD, Receiving Editor, Infection Genetics and Evolution, Honorary Professor, JNCASR, Bangalore, India, Founding Fellow and Adviser, ISOGEM, Distinguished Professor at the Institute of Life Scienecs. Dr. Hasnain has authorised more than 175 original reesearch papers and several book chapters. He has about a dozen patents filed in India and abroad.

Sudha Rani Jasti - Wholetime Director - Director/Board Member

Smt. Sudha Rani Jasti serves as Wholetime Director of Suven Life Sciences Limited. She is a Graduate in Science from Andhra University. She has experience in running the business in U.S.A. She has been managing the administrative matters and operations of the Company. She is a member of Investor Grievances Committee.

M. R. Naidu - Independent Non-Executive Director - Director/Board Member

Dr. M. R. Naidu serves as Independent Non-Executive Director of Suven Life Sciences Limited. He is a Doctorate in Science and Graduate in Mechanical Engineering. He had memberships in Professional Bodies like American Society of Mechanical Engineers, Planning Executives Institute and Indian Institute of Engineers. Dr. M. R. Naidu was a former Chairman and Managing Director of M/s. Bharat Heavy Plates and Vessels Limited (BHPV) and Machine Tools, Limited (HMT) and having and experience in Technical and Administrative Sectors. He held the position of President, The Andhra Petrochemicals Ltd, the U.B.Group. He is assisting the company in all technical aspects. He is also a Director on the Board of Nile Limited and Amaraja Batteries Ltd. Dr. M. R. Naidu is a member of Audit Committee and Investor Grievance Committee.

D. G. Prasad - Independent Non-Executive Director - Director/Board Member

Shri. D. G. Prasad serves as Independent Non-Executive Director of Suven Life Sciences Limited. He is a qualified Chartered Accountant and had been a career banker for over 33 years. After being with Canara Bank for over 8 years, Mr. Prasad served Exim Bank for over 25 years having joined in 1983, in its formative phase. While being with Exim Bank, As a Chief General Manager, he was the head of Corporate Banking, Agri Business and SME Business Groups in Exim Bank. He holds trade finance, international finance, merchant banking, corporate strategies, mergers and acquisitions, loan syndications, forfaiting, international negotiations and co-financing with multilateral agencies. He was trained in Treasury Management' at Credit Suisse, Switzerland; 'International Banking and Development at the International Development Ireland at Dublin and London and 'Advanced Agribusiness Management at Cornell University, Ithaca, New York, USA. He has been a guest faculty at business schools on international finance and international marketing.

K. V. Raghavan - Independent Non-Executive Director - Director/Board Member

Dr. K. V. Raghavan serves as Independent Non-Executive Director of Suven Life Sciences Limited. He is a Fellow of the National Academy of Engineering, Indian Institute of Chemical Engineers (IIChE) and A.P. Academy of Sciences and a Distinguished Fellow of University of Grants Commission (UGC). He was appointed as the Director of Central Leather Research Institute (CLRI), Chennai in 1994. He took over the Directorship of Indian Institute of Chemical Technology, Hyderabad in 1996. On completion of this tenure, he was appointed at Scientist in Director's Grade at IICT in October 2003. He took over as the Chairmanship of Recruitment and Assessment Centre of DRDO in May 2004. He is currently the INAE Distinguished Professor and Vice President of INAE for International Scientific Collaboration. Dr. Raghavan is also Director on the Board of Godavari Biorefineries Limited. Dr. Raghavan holds 2000 shares in the Company

Martin Tolar - Independent Non-Executive Director - Director/Board Member

Dr. Martin Tolar, Ph.D., serves as Independent Non-Executive Director of Suven Life Sciences Limited. He is President and CEO of NormOxys, Inc., a private biopharmaceutical company based in Boston, USA and Strasbourg, France, focused on developing a new class of small molecule drugs that allow the body to deliver oxygen more efficiently to all tissues that need it, and offer breakthrough treatments for congestive heart failure, cancer, anemia, macular degeneration and late Alzheimer's disease. Dr. Tolar joined NormOxys from CoMentis, Inc., where as Chief Scientific Officer and later Chief Business Officer, he led the development organization and negotiated a $760 MM beta secretase collaboration agreement with Astellas Pharma. Prior to CoMentis, Dr. Tolar served in a variety of leadership positions in Clinical Development, Strategic Partnerships and Business Development divisions at Pfizer, Inc. He directed programs through all stages of clinical development and NDA submissions, and led the Pfizer Neuroscience Licensing Team to complete multiple business transactions including a $500 MM acquisition of Rinat Neurosciences and license of the RAGE platform from TransTech Pharma. Dr. Tolar holds an MD degree and was trained in Neurology at the Boston Medical Center. He received a PhD in Neuroscience for his work on the role of apolipoprotein E in Alzheimer's disease. Dr. Tolar has published a number of scientific publications in the area of Neurosciences and served as an Assistant Professor in the Department of Neurology at Yale University of Medicine

Venkateswarlu Jasti - Executive Chairman of the Board, Chief Executive Officer

Shri. Venkateswarlu Jasti serves as Executive Chairman of the Board, Chief Executive Officer of Suven Life Sciences Ltd. He is a Post Graduate in Pharmacy from Andhra University, Visakhapatnam, and also a Post Graduate in Pharmacy from St. John University, New York, specializing in Industrial Pharmacy. Having registered himself as a Registered Pharmacist, he managed M/s Clinton Bergen Drug Company, M/s Park Way Central Pharma and M/s Kayes Drug Company, N J, USA. He was the president elect of Essex County Pharmaceutical Society of N J which no other Indian occupied till now. He returned from USA to India in 1988-89 and promoted this company in 1989. Since then, he been managing the company as Managing Director providing the right direction and leadership in developing technologies, upgrading the facilities , development of export markets etc. Mr. Jasti has been the Past President of Indian Pharmaceutical Association, and Chairman of Local Organizing Committee for the 52nd Indian Pharmaceutical Congress held at Hyderabad and was President of Bulk Drug Manufacturers Association of India (BDMA) till September, 2004. He was also the Ex-Chairman for Pharmexcil (Pharmaceutical Export Promotion Council) a statutory body for the promotion of exports of all pharma and biotech products which was set up by Govt. of India. Mr. Jasti is the Chief architect for the formation of A.P. Chief Minister's task force for Pharma during 2001 and responsible for the creation of Pharma City at Vizag by Govt of Andhra Pradesh and Pharmexcil (Pharmaceutical Export Promotion Council) head quartered at Hyderabad by Govt of India.

PRESS RELEASE :

Accord Fintech (India)

14 November 2011

India, Nov. 14 -- Suven Life Sciences will be presenting several data presentation from their portfolio of investigational neuroscience new chemical entities (NCEs) at SFN from 13th to 16th of November at Washington, DC, US. Neuroscience is the annual meeting of the Society for Neuroscience (SFN) and more than 30,000 Neuro scientists from all over the world covering all the major Pharma, biotech and research institutes will be participating. Suven's nine data presentation covers the early stage compounds from Histamine 3receptor antagonist, Nicotinic acetylcholine alpha- beta-2 receptor agonist and antagonist, Serotonin 5-HT4 receptor against in addition to 5HT6 antagonists to treat unmet medical needs of patients living with cognitive dysfunction associated with Alzheimer's, Schizophrenia, ADHD; Depression and Mood disorders and Neuropathic pain. These data presentation highlights company's continued commitment to exploring new treatment� options addressing unmet medical need through novel mechanism and targets and address a market size of more than $30 billon. Published by HT Syndication with permission from Accord Fintech.

Biotech Week

09 November 2011

Investigators publish new data in the report "Antinociceptive activity of neuronal nicotinic receptor agonist A-366833 in experimental models of neuropathic and inflammatory pain." According to the authors of a study from Hyderabad, India, "Nerve injury, diabetes and cancer therapies are often associated with painful neuropathy. The mechanism underlying neuropathic pain remains poorly understood."

"The current therapies have limited efficacy and are associated with dose-limiting side effects. Compounds which act at nicotinic acetylcholine receptors have also been reported to show antinociceptive activity. Among those, tebanicline (ABT-594) a potent nicotinic acetylcholine receptor agonist demonstrated analgesic effects across a broad range of preclinical models of nociceptive and neuropathic pain. Another nicotinic acetylcholine receptor agonist, 5-[(1R,5S)-3,6-Diazabicyclo[3.2.0]heptan-6-yl]nicotinonitrile (A-366833) from the same group produced significant antinociceptive effects in writhing pain (abdominal constriction), acute thermal pain (hot box), persistent chemical pain (formalin induced) and neuropathic pain. In the present study, we have demonstrated the efficacy of A-366833 in rat models of chronic constriction injury, partial sciatic nerve ligation, spinal nerve ligation, diabetes, chemotherapy induced neuropathic pain and complete Freund's adjuvant induced inflammatory pain. A-366833 (1, 3 and 6 mg/kg) produced significant antihyperalgesic effects in partial sciatic nerve ligation, chronic constriction injury and spinal nerve ligation models. In the diabetic and chemotherapy induced neuropathic models compound exerted antinociceptive activity and reduction in the mechanical hyperalgesia was observed. A-366833 dose dependently attenuated mechanical hyperalgesia in complete

The researchers concluded: "These results demonstrated broad-spectrum antinociceptive properties of A-366833 in both neuropathic and inflammatory pain models."

Nirogi and colleagues published the results of their research in European Journal of Pharmacology (Antinociceptive activity of neuronal nicotinic receptor agonist A-366833 in experimental models of neuropathic and inflammatory pain. European Journal of Pharmacology, 2011;668(1-2):155-62).

Biotech Week

05 October 2011

Fresh data on Biotechnology are presented in the report "Quantification of cinacalcet by LC-MS/MS using liquid-liquid extraction from 50 L of plasma. 'A simple and economical high-performance liquid chromatography-positive ion electrospray tandem mass spectrometry method was developed and validated for the quantification of cinacalcet in plasma. Following liquid-liquid extraction, the analyte was separated using an isocratic mobile phase on a reversed-phase column and analyzed by MS/MS in the multiple reaction monitoring mode using the respective [M+H]? ions, m/z 358-155 for cinacalcet and m/z 310-148 for the internal standard," scientists writing in the Journal of Pharmaceutical and Biomedical Analysis report.

"The assay exhibited a linear dynamic range of 0.1-200 ng/mL for cinacalcet in plasma. Acceptable precision (<10%) and accuracy were obtained for concentrations over the standard curve range. A run time of 3.5 min for each sample made it possible to analyze more than 250 samples per day. The method was successfully applied to quantify cinacalcet concentrations in a preclinical pharmacokinetic study after a single oral administration of cinacalcet at 10 mg/kg to rats," wrote R. Nirogi and colleagues.

The researchers concluded: "Following oral administration the maximum mean concentration in plasma was achieved at 1.0 h (T(max)), area under the curve (AUC) and half-life (t(1/2)) were and, respectively."

Nirogi and colleagues published their study in the Journal of Pharmaceutical and Biomedical Analysis (Quantification of cinacalcet by LC-MS/MS using liquid-liquid extraction from 50 L of plasma. Journal of Pharmaceutical and Biomedical Analysis, 2011;56(2):373-81).

Additional information can be obtained by contacting R. Nirogi, Discovery Research, Suven Life Sciences Ltd, Serene Chambers, Road-5, Avenue-7, Banjara Hills, Hyderabad 500034, India

Accord Fintech (India)

04 October 2011

India, Oct. 04 -- Suven Life Sciences is currently trading at Rs 16.60, up by 0.25 points or 1.53% from its previous closing of Rs 16.35 on the BSE. The scrip opened at Rs 16.40 and has touched a high and low of Rs 17.70 and Rs 16.40 respectively. So far 28722 shares were traded on the counter. The BSE group 'B' stock of face value Rs 1 has touched a 52 week high of Rs 33.55 on 08-Nov-2010 and a 52 week low of Rs 15.00 on 09-Aug-2011.Last one week high and low of the scrip stood at Rs 17.70 and Rs 16.00 respectively. The current market cap of the company is Rs 190.86 crore. The promoters holding in the company stood at 63.28% while Institutions and Non-Institutions held 0.38% and 36.33% respectively. Suven Life Sciences, a biopharmaceutical company has won Pharmexcil's Patent Award for securing the most number of product patents during 2010-11 for their New Chemical Entities (NCEs) under gold category third year in a row. The awards were presented during the Award Function for Exports and patents during India-LAC Pharma Business Meet organized by Pharmexcil and by Department of Commerce, Government of India. The company secured 108 product patents for its NCE's during 2010-11 from several countries including all the developed countries like USA, Europe, Japan, Australia and Canada etc. So far Suven secured a total of 445 product patents globally for its NCE's since 2002.Suven Life Sciences is a biopharmaceutical company focused on discovering, developing and commercializing novel pharmaceutical products, which are first in class or best in class therapies through the use of GPCR targets. The Company has twelve internally-discovered therapeutic drug candidates currently in pre-clinical stage of development targeting conditions such as ADHD, Dementia, Depression, Huntington's disease, Parkinson's disease and obesity in addition to developmental candidate SUVN-502 for Alzheimer's disease and Schizophrenia. Published by HT Syndication with permission from Accord Fintech.

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No records exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs. 51.98
UK Pound	1	Rs. 80.58
Euro	1	Rs. 69.12

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	---
DEMERIT POINTS
--BANK CHARGES	YES/NO	Yes
--LITIGATION	YES/NO	No
--OTHER ADVERSE INFORMATION	YES/NO	No
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	No
--EXPORT ACTIVITIES	YES/NO	Yes
--AFFILIATION	YES/NO	No
--LISTED	YES/NO	Yes
--OTHER MERIT FACTORS	YES/NO	Yes
TOTAL		48

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
-	NB	New Business	-

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.