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BSE: 524372 | NSE: ORCHIDCHEM | ISIN: INE191A01019 Market Cap: [Rs.Cr.] 790 | Face Value: [Rs.] 10 Industry: Pharmaceuticals - Indian - Bulk DrugsOrchid Chemicals & Pharmaceuticals Ltd (Orchid) is a globally recognized, integrated pharmaceutical company with core competencies in the development and manufacture of Active Pharmaceutical Ingredients (APIs) and Finished Dosage Forms as well as in drug discovery, which was incorporated on 1st July 1992 as a 100% Export Oriented Unit (EOU). Orchid has two manufacturing sites for APIs (at Alathur near Chennai and at Aurangabad, near Mumbai) and three manufacturing sites for Dosage forms (at Irungattukottai and Alathur in Chennai), besides two R&D centres (at Sholinganallur and Irungattukottai, Chennai), all are state-of-the-art and have several international regulatory approvals, including the US FDA and UK MHRA. Orchid's API facilities are ISO certified for their quality, environmental management and operational health and safety systems.
Orchid has a Joint Venture in China for manufacturing sterile APIs. The Company commenced its operation in the year 1994, also in the same year; orchid had entered into an agreement with SBD Laboratories Italy for technology for keeping production in sterile condition. Orchid became the youngest Indian pharmaceutical company to be awarded the ISO 9002 certification in 1997. During the same year of 1997, the company made a tie-up with Technology Innovative Industry of Italy and also launched a range of new products in the steriles category. In 1998, Orchid, along with Cipla and Ranbaxy, had received approval from the Drug Controller of India (DCI) for the manufacture and export of sildenafil citrate, the main ingredient in Viagra, the drug developed by Pfizer to treat human male erectile dysfunction; by the way it had entered into the formulation market. The Trophy for Excellent Performance in Exports was awarded to the company as part of the National Export Awards Programme for the year 1998-99. The initial range of products was launched by the company in 1999, which includes three injectable cephalosporin formulations and two coprescription analgesics of the NSAID category.
These are Tax-O-bid (Cefotaxime injection), Cefogram (Ceftriaxone injection), Orzid (Ceftazidime injection), Orchidol (Tramadol tablets) and N-Ltd (Nimesulide dispersible tablets. In the year 2000, Orchid had signed a Memorandum of Understanding (MoU) with the Mumbai-based Ajanta Pharma Ltd to acquire the latter's bulk drugs manufacturing plant located at Aurangabad. During the year 2001, the company had issued foreign currency convertible bonds to International finance Corporation. Orchid had inked a 50:50 joint venture alliance pact with a California-based drug discovery research firm Bexel Biotechnology Inc in the year of 2002. During the year 2003, the company had acquired Mano Pharmaceuticals for a consideration of Rs.26 crores and also in the same year received a formal approval from US Food and Drug Administration for Cephalaxin. Orchid signed a pact with Par Pharmaceuticals Inc in 2004 to market oral cephalosporin formulations in US market.
In 2005, the company made pact with Alpharma Inc to market oral non-antibiotic formulations in US & European markets and also entered into agreement with STADA Pharmaceuticals, Inc (USA). In 2006, Orchid had signed a deal with Biovitrum in drug discovery field. The Company received approval from the US FDA for its ANDAs (abbreviated new drug application) for Cefdinir for capsules 300 mg and Cefdinir for oral suspension in July 2007. In April 2008, Orchid formed a wholly owned subsidiary Orchid Pharma Japan K K (Orchid Japan) to foray into the high potential Japanese generics market and in August of the same year 2008 received approvals of its marketing authorization (MA) for piperacillin and tazobactam for injection for marketing in the EU countries. The Company made a strategic research collaboration and license agreement with Merck & Co in September 2008 focused on the discovery, development and commercialization of novel agents for the treatment of bacterial and fungal infections.
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