Orchid to launch products in EU market

Chennai, Aug 4 (UNI) The city-based generic pharma major Orchid Chemicals and Pharmaceuticals Limited today announced that it has received approvals of its Marketing Authorisation (MA) for Piperacillin and Tazobactam for Injection for marketing in the EU countries.

Orchid filed the MA for this product with the UK MHRA through the DCP (De-Centralised Procedure) route enabling the company to launch the product across the EU countries, a company release said here.

"This is a very important milestone in our regulated generics plan. Through this approval, we are expanding into a new product range of premium Penicillin Injectables and also foraying into the EU generics market,'' Mr K Raghavendra, Company Managing Director, said.

''We are launching this product through our exclusive marketing alliance with Hospira for the EU market and given the limited competition envisaged in this product. We are confident of a robust market share and revenue stream," he added.

The company achieved a total income of Rs 306.33 crore for the quarter ended June 30, 2008 in comparison to Rs 236.27 crore registered during the corresponding first quarter of the last fiscal, growing by 29.6 per cent.

Earnings Before Interest and Tax (EBIT) was Rs 57.16 crore compared to Rs 43.23 crore during the corresponding quarter of the last year. The profit before exceptional item and tax was Rs 26.91 crore as against Rs 23.05 crore of the Q1 of the last fiscal. UNI WS DS 1641