Orchid Pharma reports 36 percent surge in total revenue from operations in Q2
New Delhi: Orchid Pharma has announced their Q2'22 results. Fuelled by increasing sales and a laser-sharp focus on costs, Orchid Pharma has reported a 36% surge in total revenue from operations while the EBIDTA has jumped by 104% over the quarter ending September 2021.
Dhanuka Group, through its pharmaceutical arm, Dhanuka Laboratories Ltd, had taken over the company through the CIRP (Corporate Insolvency Resolution Process) on 31st March 2020. In spite of the COVID-19 Pandemic, the group through its relentless efforts has turned around the business and within a year made the loss-making business profitable.
Speaking on the Q2 results, Manish Dhanuka, Managing Director, Orchid Pharma said, "Our revenues have seen a sharp uptick over the last one year. We have focussed on increasing capacity utilizations while controlling costs. Owing to all the measures we took, bearing fruit, and a strong product pipeline, the results are a sign of positive things to come. "
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.
Read also: Orchid Pharma to transfer NPNC formulations division to JV with Bionpharma
Established in 1992 as an export-oriented unit (EOU), Orchid Pharma Ltd. (Orchid) is a vertically integrated company spanning the entire pharmaceutical value chain with established credentials in research, manufacturing, and marketing.
Orchid specializes in the Production of Quality Cephalosporins especially Sterile Products, for which it is one out of the only three USFDA-approved facilities in the world, and the only one from India. Besides this, the facility has other approvals like EU GMP, ANVISA, and PMDA.
