Orchid Pharma Ltd Share Price – NSE  /  BSE

Pharmaceuticals, Small Cap

Orchid Pharma has received approval by the United States Food and Drug Administration (USFDA) for its novel invention, ‘Enmetazobactam'. This development comes in close succession to the recent recommendation for approval by the European Medicines Agency (EMA).

Enmetazobactam is the first completely invented-in-India Beta Lactamase Inhibitor. This USFDA approval paves the way for the introduction of Enmetazobactam in the United States, the largest pharmaceutical market in the world. The product is expected to be launched within the next couple of quarters in the US market.

This New Drug Approval (NDA) allows the use of Exblifep (Cefepime and Enmetazobactam) as an injection for the treatment of patients 18 years and older with complicated urinary tract infections (cUTI) including pyelonephritis caused by the following susceptible microorganisms: Escherichia coli, Klebsiella pneumoniae, Pseudomonas aeruginosa, Proteus mirabilis, and Enterobacter cloacae complex.

Orchid is the first company from India, ever to have invented a product which has received a New Drug Approval (NDA) from USFDA. It is a significant development in addressing the global need for affordable and efficacious drugs to combat Anti-Microbial Resistance (AMR).

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This New Drug Approval (NDA) allows the use of Exblifep (Cefepime and Enmetazobactam) as an injection for the treatment of patients 18 years and older with complicated urinary tract infections (cUTI) including pyelonephritis caused by the following susceptible microorganisms: Escherichia coli, Klebsiella pneumoniae, Pseudomonas aeruginosa, Proteus mirabilis, and Enterobacter cloacae complex.

This USFDA approval paves the way for the introduction of Enmetazobactam in the United States, the largest pharmaceutical market in the world. The product is expected to be launched within the next couple of quarters in the US market.

Manish Dhanuka, managing director, Orchid Pharma, said, “While EMA recommendation for grant of marketing authorization last month was a big achievement, the USFDA approval reinforces Orchid’s position on the safety of the drug and its innate need in the times of increasing Antimicrobial resistance.”

Orchid Pharma is one of the leading pharmaceutical companies in India head quartered in Chennai and involved in the development, manufacture and marketing of diverse bulk actives, formulations and nutraceuticals with exports spanning over 40 countries.

The pharmaceutical company reported consolidated net profit of Rs 29.43 crore in Q3 FY24, steeply higher than Rs 7.59 crore posted in Q3 FY23. Revenue from operations increased 38.07% YoY to Rs 220.59 crore in the quarter ended 31 December 2023.

Orchid Pharma rose 5.76% to end at Rs 1,217.20 on the BSE.

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Revenue from operations increased 38.08% YoY to Rs 220.59 crore in Q3 FY24 from Rs 159.76 crore reported in Q3 FY23.

Profit before tax from continuing operations soared to Rs 30.19 crore in December 2023 quarter from Rs 6.73 crore posted in same quarter last year.

EBITDA grew 92% to Rs 43.3 crore in the third quarter of FY24 as against 22.6 crore posted in corresponding quarter previous year.

EBITDA margin improved to 20% in during the quarter as compared with 14% reported in same quarter last fiscal.

On nine-month basis, the company recorded consolidated profit of Rs 58.64 crore in 9M FY24 as against a net loss of Rs 12.82 crore posted in 9M FY23. Revenue from operations rose 32.08% YoY to Rs 602.27 crore in 9M FY24.

Orchid Pharma is one of the leading pharmaceutical companies in India head quartered in Chennai and involved in the development, manufacture and marketing of diverse bulk actives, formulations and nutraceuticals with exports spanning over 40 countries.

The counter hit 52-week high of Rs 1,048.45 in today’s intraday session.

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Shanti Educational Initiatives Ltd, TRF Ltd, Tree House Education & Accessories Ltd and Darshan Orna Ltd are among the other gainers in the BSE's 'B' group today, 09 February 2024.

Orchid Pharma Ltd soared 17.14% to Rs 1029.3 at 12:02 IST. The stock was the biggest gainer in the BSE's 'B' group. On the BSE, 1.15 lakh shares were traded on the counter so far as against the average daily volumes of 28772 shares in the past one month.

Shanti Educational Initiatives Ltd spiked 16.05% to Rs 75.55. The stock was the second biggest gainer in 'B' group. On the BSE, 3.17 lakh shares were traded on the counter so far as against the average daily volumes of 18080 shares in the past one month.

TRF Ltd surged 10.00% to Rs 433.45. The stock was the third biggest gainer in 'B' group. On the BSE, 28243 shares were traded on the counter so far as against the average daily volumes of 25615 shares in the past one month.

Tree House Education & Accessories Ltd jumped 9.97% to Rs 27.47. The stock was the fourth biggest gainer in 'B' group. On the BSE, 13726 shares were traded on the counter so far as against the average daily volumes of 22307 shares in the past one month.

Darshan Orna Ltd added 9.85% to Rs 5.8. The stock was the fifth biggest gainer in 'B' group. On the BSE, 29.21 lakh shares were traded on the counter so far as against the average daily volumes of 2.6 lakh shares in the past one month.

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