Business Daily from THE HINDU group of publications
Saturday, Oct 20, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Saturday, Oct 20, 2007 ePaper | Mobile/PDA Version |
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Corporate Results
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Pharmaceuticals Orchid Chem revenue up 20 % on drug filings Our Bureau Chennai, Oct. 19 Orchid Chemicals and Pharmaceuticals Ltd has posted revenues and operating income of Rs 295.12 crore for the quarter ending September 2007, a 20 per cent growth over the same period last fiscal. The improved performance has been on account of increased pace of regulatory drug filings and robust generic drugs business in the US. According to a press release, the company filed three drug master filings (DMF) and two abbreviated new drug applications (ANDAs) in the US market, three dossiers for marketing authorisations in the European Union and 1 AND submission for the Canadian market this quarter. The company launched two antibiotic products in US – Cefepime and Cefdinir— expanding its generics business portfolio. Standalone revenues for the half year ending September 2007 stood at Rs 533.32 crore compared to Rs 447.44 reported in the corresponding period last fiscal. Net profit more than doubled at Rs 114.57 crore. Orchid’s API and branded formulations business grew by 17 per cent to post revenues of Rs 58.08 crore for the half-year ending September 2007 over last year’s Rs 49.44 crore. Consolidated revenues for the half-year ending September 2007 stood at Rs 561.10 crore against Rs 472.83 crore in the corresponding period last fiscal. More Stories on : Pharmaceuticals
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