Orchid Pharma announces Q4 results with 71.60 percent growth in annual PAT
New Delhi: Orchid Pharma Ltd., a pharmaceutical company headquartered in Chennai, has announced a strong financial performance for the financial year 2023- 2024, with an increase in PAT of 71.60%.
"A highlight of this quarter has been the ground breaking progress of Orchid Pharma’s novel drug Enmetazobactam. It is now approved in both US and Europe and shall be launched shortly. This marks a significant achievement for India as this is the first drug invented in India to reach this landmark. This development not only reiterates India's pharmaceutical innovation prowess but also addresses the critical need for affordable and effective solutions to combat Anti-Microbial Resistance (AMR) globally due to which more than 5 million people deaths are associated every year globally," the Company stated.
It is to be noted that Dhanuka Group, through its pharmaceutical arm, Dhanuka Laboratories Ltd, took reins of Orchid Pharma through CIRP (Corporate Insolvency Resolution Process) on 31st March 2020.
Speaking on the Q4 results, Manish Dhanuka, Managing Director, Orchid Pharma said, “Our revenues have experienced a significant increase over the past year. We have concentrated on maximizing capacity utilization while maintaining stringent cost controls. The positive outcomes of these initiatives, combined with a robust product pipeline and Capex of more than 800 Crore over the next few years, indicate promising future prospects.”
In the near future, the implementation of the PLI project of 7-ACA will lead to more comprehensive backward integration of Orchid’s supply chain.
"A robust product launch pipeline in tandem with all the other significant investments we are making, are set to make Orchid an even stronger player in the Cephalosporin Antibiotics space in the world," the Company added.
Read also: Orchid Pharma's new antibiotic 'Exblifeb' gets European Medicines Agency approval
