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Orchid's betalactam unit to yield Rs 270-cr sales
Our Bureau
Chennai
,
Dec. 2
THE betalactam antibiotics facility of Orchid Chemicals & Pharmaceuticals, inaugurated by the President, Mr A.P.J. Abdul Kalam, on Thursday, will fetch sales of $60 million (Rs 270 crore) in 2007-08, the company's Managing Director, Mr K. Raghavendra Rao, has said.
In an informal chat with presspersons on the sidelines of the inauguration, Mr Rao said the company had repaid old debt of $65 million out of the $75-million raised through the recent GDR issue. The resultant annualised savings works out to $4.5 million (Rs 20 crore).
Mr Rao said Orchid's anti-diabetes drug was being put through "90-day human trials". The drug, during initial testing, had produced some surprise positives — it also helped lower blood pressure and triglycerides.
He said the company was in talks with some "prospective partners" for marketing the drug. He said that he hoped the drug to be in the market by March.
The joint venture that Orchid has in China would achieve a turnover of around $30 million this year, Mr Rao said, adding that the venture was making "reasonable profits".
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