The EMA & USFDA Approval of Enmetazobactam is a Significant Milestone for Innovative Indian Technology
New Delhi, 24 May 2024
Orchid Pharma Ltd., a leading pharmaceutical company headquartered in Chennai, today announced a strong financial performance for the financial year 2023- 2024, with an increase in PAT of 71.60%. This remarkable growth underscores the company’s commitment to innovation and its strategic efforts in addressing global healthcare challenges.
A highlight of this quarter has been the groundbreaking progress of Orchid Pharma’s novel drug Enmetazobactam. It is now approved in both the 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 antimicrobial resistance (AMR) globally, due to which more than 5 million people deaths are associated every year globally.
It is to be noted that Dhanuka Group, through its pharmaceutical arm, Dhanuka Laboratories Ltd, took the reins of Orchid Pharma through CIRP (Corporate Insolvency Resolution Process) on 31st March 2020. Despite the COVID-19, the group through its relentless efforts has turned around the business and within a short period have turned profitable.
Regarding the Q4 results, Manish Dhanuka, Managing Director of 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 7-ACA PLI project will lead to a 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, is set to make Orchid an even stronger player in the Cephalosporin Antibiotics space worldwide.
Orchid Pharma Limited.
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 research, manufacturing, and marketing credentials.
Orchid is the only Indian Pharmaceutical Company to ever have invented a New Chemical Entity (NCE, also colloquially called a New Drug). The molecule is out licensed (on a Royalty model) and now approved in the US and Europe.
Orchid is a pioneer in Production of Quality Cephalosporins especially the Sterile Products, for which it is the 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.
Dhanuka Group acquired Orchid Pharma Ltd. through CIRP (Corporate Insolvency Resolution Process) under IBC (Insolvency and Bankruptcy Code) on 31st March 2020. Since, then the Company has gone through a transformation going from a negative EBIDTA to healthy positive numbers year on year.
