Suven Life Sciences Limited, a Hyderabad-based biopharmaceutical company, has received the first Certificate of Suitability (Certificate of European Pharmacopoeia - CEP) from the European Directorate for the quality of medicines for active pharmaceutical ingredients (API) product 'Tamsulosin Hydrochloride'. European Directorate is one of the major institutions involved in the regulation and quality control of medicinal products authorized for use in Europe. The role of Certificate of Suitability (CEP) is to certify the compliance of a material used in medicines according to the requirement of the European authorities. These certificates are recognized by 36 members of European Union and some other countries such as Australia, Canada and Switzerland. The company has recorded a 49% decline in its net profit to Rs 1.59 crore for the first quarter ended June 30, 2008, as compared with Rs 3.14 crore during the same period last year.