The shares of integrated active pharmaceutical ingredients (API) manufacturers gained up to 10 percent after the company received USFDA approval under the New Drug Application (NDA) process.
With a market capitalization of Rs 6,173.53 crore. The shares of Orchid Pharma Ltd closed at Rs 1,217.20 per share, increased around 5.76 percent as compared to the previous closing price of Rs 1,150.95 apiece.
According to the company filing, the United States Food and Drug Administration (USFDA) has approved Orchid Pharma Ltd’s innovative discovery, ‘Enmetazobactam’. Enmetazobactam was the first Beta-Lactamase Inhibitor developed entirely in India. This development comes shortly after the European Medicines Agency’s (EMA) recent proposal for approval.
Furthermore, Orchid is the first Indian firm to have developed a medicine that has gotten a New Drug Approval (NDA) from the US FDA. It is a big step toward meeting the global demand for inexpensive and effective anti-microbial resistance (AMR) medications.
Looking into the company’s performance revenue increased by 38 percent from Rs 160 Crore in Q3FY23 to Rs 221 Crore in Q3FY24. During the same period, net profit increased by 262 percent from Rs 8 crore to Rs 29 crore.
The company’s revenue from India climbed by 35% from Rs 76.61 crore in FY2021-22 to Rs 103.88 crore in FY2022-23, while revenue from outside India increased by 15% from Rs 479.45 crore in FY2021-22 to Rs 551.72 crore.
Orchid Pharma shares have delivered multi-bagger returns of 113.97% in the previous six months and 204.95% in a year. As a result, a one-year-old shareholder investment of Rs 1 lakh in the firm is now worth Rs 2.04 lakh.
Sanofi, Sun Pharma, Pfizer, and Mylan are among the company’s noteworthy clientele. Orchid’s top ten clients account for 57% of overall regional revenues.
Orchid Pharma is a pharmaceutical firm that develops and manufactures active pharmaceutical ingredients (APIs) and completed dosage forms. It also conducts research on novel medications.
Written by:- Abhishek Singh
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