 "Photo: Bloomberg")
Orchid Pharma in focus: Orchid Pharma share price surged 5.8 per cent to Rs 1,056.75 apiece on the BSE on Thursday after the pharmaceutical company said it has received Drugs Controller General of India's (DCGI's) approval for the manufacturing and marketing its invented, made-in-India new chemical entity Active Pharmaceutical Ingredient (API), Enmetazobactam.
DCGI has also granted permission to manufacture and market Finished Dosage Form (FDF) of Cefepime and Enmetazobactam as a dry powder injectible.
"This formulation is indicated for the treatment of complicated urinary tract infections (UTIs), including Pyelonephritis, Hospital Acquired Pneumonia (HAP), and Bacteremia when it is associated with or suspected to be associated with either complicated UTI or HAP. With this approval, Orchid Pharma intends to improve the treatment landscape for serious infections in India," the company said in a statement.
At 12:21 PM, Orchid Pharma was up 2.7 per cent at Rs 1,025 per share as against 0.5 per cent rise in the benchmark BSE Sensex.
Orchid Pharma Ltd. is a vertically integrated company, spanning the entire pharmaceutical value chain with established credentials in research, manufacturing, and marketing.
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Orchid Pharma is the only Indian pharmaceutical company to ever have invented a New Chemical Entity. The molecule is out-licensed (on Royalty model) and approved in the US and Europe.
Orchid is a pioneer in production of Quality Cephalosporins, especially the Sterile Products, for which it is the one out of the only three USFDA approved facilities in the world, and the only one from India. Besides this, the facility has other approvals like EU GMP, ANVISA and PMDA.
"Enmetazobactam's approval in India will help us expand access to advanced and affordable treatment options for patients in India. Orchid Pharma is committed to innovation and is poised to provide effective solutions for patients suffering from severe infections," said Manish Dhanuka, managing director, Orchid Pharma.
Meanwhile, net profit of Orchid Pharma declined 44.27 per cent year-on-year (Y-o-Y) to Rs 32.96 crore in the quarter ended March 2024, as against Rs 59.14 crore during the quarter ended March 2023.
Its sales rose 3.43 per cent to Rs 217.10 crore in the quarter versus Rs 209.90 crore Y-o-Y.
For the full year, net profit jumped 98.99 per cent to Rs 92.17 crore in the year ended March 2024 as against Rs 46.32 crore during the previous year ended March 2023.
