Orchid to foray into Canadian generic formulations market

New Delhi, Apr 3 (UNI) Orchid Chemicals&Pharmaceuticals Ltd announced its foray into the Canadian generic formulations market with the reciept of approval from the Canadian Therapeutic Product Directorate (TPD) for two of its Abbreviated New Drug Submission (ANDS) applications -- Cefoxitin and Ceftriaxone.

These products are covered under the exclusive marketing arrangement, which the company has with the leading Canadian generics major Apotex.

''With limited competition and a niche injectable product offering, we are confident of a sustainable revenue base froth Canada. Given the track record of Apotex in garnering a major market share in the generic antibiotic injectable market in the US, we are optimistic that they would be able to replicate the same in the Canadian market too,'' company Managing Director K Raghavendra Rao said.

Going forward, the company would be enhancing its market presence further in Canada by launching other generic formulations in the cephalosporin and other product segments based on specific product filings and approvals, he said.

UNI