History of Orchid Chemicals and Pharmaceuticals Ltd.
1992
- The Comp. was incorporated on 1st July & obtained the Certificate for Commencement of Business on October 15. It was promoted by K.R. Rao, C.B. Rao, N. Subramanium, N. Sambasivam, N. R. Reddy, Dr. R. Kailasam & Ms. R. Vijayalakshmi.
- The Comp. undertook to set up a 100% EOU for manufacture of 90 TPA of cephalosparin group.
- A Collaboration agreement was entered into with sintofarm, Italy for state-of-the-art technology, buy back of entire production, training of personnel etc. Also, another agreement was entered into with M.V. Reddy for know-how for manufacture of 7-ADCA and Cephalexin.
1993
- 17,01,800 shares issued, subscribed and paid-up, [of these 14,38,000 shares subscribed for by signatories to the Memorandum of Association, 1,00,000 shares to NRI who are associates, friends of promoters and 1,63,800 shares to foreign collaboration sintofarms].
- During September, the Comp. issued 42,98,200 No. of equity shares of Rs 10 each for cash at par of which the following were reserved for allotment on a firm basis.
- [1s] 6,12,000 share to promoters, directors etc.
- [2s] 1,36,200 No. of equity shares to collaborators sintofarm in repatriation basis.
- [3s] 5,50,000 shares to secured India Investment on repatriation basis.
- [4s] 5,00,000 shares to IDBI. Balance 25,00,000 shares issued to the public.
1994
- The Comp. entered into an agreement with SBD Laboratories Italy, for technology for keeping production in sterile condition.
- The Comp. undertook to expand the combined capacity of cephalexin, cepadroxyl & cefradine from 90 tonnes to 150 tonnes.
- 14,73,000 shares allotted to FIIs domestic corporate bodies, employees of Comp. on private placement basis. 12,00,000 No. of equity shares allotted on private placement basis with Indian Mutual Funds and others in July.
1996
- The Comp. proposed to set up a state-of-the-art formulation facility exclusively for manufacture of sterile cephalosporin formulations.
- 86,73,000 Rights equity shares issued [prop. 1:1; prem. Rs 30s].
1997
- The Comp. recently became the youngest Indian pharmaceutical company to be awarded the ISO 9002 certification.
- The Comp. has tied up with Technology Innovative Industry of Italy.
- The Comp. has also launched a range of new products in the steriles category during the last quarter of 1996-97. Five new products namely Cefazolin Sodium, Cefradine Arginine, Cefradine Sodium Carbonate, Cefonicid Sodium & Ceftazidime Sodium, have been introduced in the market.
- The Comp. is the country largest producer of oral & sterile cephalosporins & has a global market share of 13 per cent with a capacity of 480 tonnes per annum & among the top five in the world for 7-ADCA [an intermediates] & oral cephalosprins based on 7-ADCA.
- Orchid Chemicals and Pharmaceuticals Ltd [OCPLs] is planning to diversify into power generation by setting up either thermal or hydraulic/wind/solar power plants.
- OCPL, also proposes to establish a modern formulation facility exclusively for manufacturing sterile Cephalosporin formulations.
- The Comp. has a technical collaboration with SBD Laboratories, Italy for manufacture of ceftriaxone & cefotaxime & an alliance with the Novartis group would translate into significant long-term gains for company.
1998
- Orchid Chemicals & Pharmaceuticals Ltd, the bulk producer of cephalosporins, is entering the formulation market. The Drug Controller of India has granted a licence to Cipla Ltd & Orchid Pharmaceuticals & Chemicals to export sildenafil citrate, the bulk drug that goes into Pfizer patented anti-impotence pill Viagra.
- Orchid Chemicals & Pharmaceuticals Ltd, the Chennai-based export-oriented pharma company, will be commissioning its captive power plant. The installed capacity of plant is 6.76 MW.
- Orchid, along with Cipla & Ranbaxy, had recently received approval from the Drug Controller of India [DCIs] for manufacture & export of sildenafil citrate, the main ingredient in Viagra, the drug developed by Pfizer to treat human male erectile dysfunction.
- Orchid Chemicals & Pharmaceuticals is keen to launch its branded version of Pfizer blockbuster anti-impotence drug, Viagra, in India.
- The Chennai-based Orchid Pharmaceuticals and Chemicals has `more or less' decided against acquiring Roussel India bulk-cum-formulations production facility at Thane in Maharashtra.
- The Comp. is setting up a new plant for non-cephalosporins bulk drugs in Cuddalore in Tamil Nadu.
1999
- The initial range of products launched include three injectable cephalosporin formulations & two coprescription analgesics of the NSAID category. These are Tax-O-bid [Cefotaxime injections], Cefogram [Ceftriaxone injections], Orzid [Ceftazidime injections], Orchidol [Tramadol tabletss] & N-Ltd [Nimesulide dispersible tablets.
It has proposed to launch cephalosporin antibiotics range of products in July & August, including cefoperazone injection, cephalexin capsules & cefadroxyl capsules & cefixme tablets & dry syrup. In the fourth quarter of current year two products for pain management -- meloxicam & nimesulide tramadol variants will be introduced.
- Orchid Chemicals & Pharmaceuticals Ltd has tied up with foreign investors for funds to be invested in new technologies, research and development, & facilities over the next five years.
- Orchid Chemicals and Pharmaceuticals has announced an equity issue of 1.06 crore shares of Rs 10 each at a premium to mop us Rs 175 crore on a private placement basis.
- The Comp. is collaborating with JSS College of Pharmacy in Udhagamandalam in research projects to identify the active ingredients in traditional herbal medicines.
- The Chennai-based Orchid Chemicals and Pharmaceuticals is considering joining the elite group of eight pharmaceutical companies who have recently floated the Indian Pharmaceutical Association [IPAs] a lobby to influence government policy on the pharma industry.
2000
- Orchid Chemicals & Pharmaceuticals Ltd has signed a memorandum of understanding [MoUs] with the Mumbai-based Ajanta Pharma Ltd to acquire the latter bulk drugs manufacturing plant located at Aurangabad, according to a Comp. statement.
- During the quarter under review five new products - one oral cephalosporin Cefixime [under the brand name of Orfixs], as also a dispensible range of select cephalosporin antibiotics were launched. Four anti-hypertensives Amiodipine, Lisinopril & combinations were also launched.
- A fire incident occured during the early hours on 16th January, in one of production blocks of Orchid bulk drug manufacturing facility at Althur, near Chennai.
- The Comp. has been awarded the 'Trophy for Excellent Performance in Exports' as part of National Export Awards Programme, 1998-99.
- The Comp. has entered into a joint venture with the UK-based Cambridge Chemicals to distribute its nutraceutical products in that country.
- The Comp. is setting up a new R&D facility to work on new drugs/new variants on drugs & drug delivery systems at Alathur near Chennai.
2001
- Orchid Chemicals & Pharmaeuticals on May 24 informed the BSE that the Comp. has issued foreign currency convertible bonds to International finance Corporation for $20m. The bonds will be converted into equity shares at a price of Rs 220 a share within a period of 18 months from the date of allotment of bonds.
- Orchid Chemicals and Pharmaceuticals Ltd [OCPLs] proposes to expand the strength of its board to 15 from the existing level of 14, aimed at accommodating the representative of International Finance Corporation [IFCs]. 2002 -Narayana Reddy resigns from the Board of Orchid Chemicals and Pharma.
-Orchid Chemicals and Pharmaceuticals has inked a 50:50 joint venture alliance pact with a California-based drug discovery research firm Bexel Biotechnology Inc.
-Orchid Chemicals and Pharmaceuticals Ltd on September 16, 2002 announced the induction of Mr RS Prasad as the Executive Director & Chief Operating Officer of Orchid Healthcare, its formulations division to fast-track its foray into the US & other regulated markets.
-Orchid Chemicals and Pharmaceuticals Ltd has informed that IDBI had withdrawn the nomination of Shri S Gajendran & instead appointed Shri M V Badrinath as its nominee on the Board.
2003
- Orchid Chemicals and Pharmaceuticals Ltd informs that Mr A R Hedge Director & CEO Formulation is relinquishing the directorship in Orchid effective June 6, 2003 & Mr R S Prasad will be responsible for all technical & manufacturing activities of Orchid formulation business & Mr S Vijayraghvan will be responsible for all sales & marketing activities of Orchid formulation business.
-Orchid acquires Mano Pharmaceuticals for a consideration of Rs.26cr.
-Orchid receives formal approval from US Food & Drug Administration for Cephalaxin.
-Orchid enters a new co-marketing concept & has signed a agreement with 4 companies to boost its sales.
-Orchid Chemicals Aurangabad facility awarded ISO 14001 & OHSAS 18001
2004
-Orchid gets Europe drug Authority nod
-Orchid Chemicals and Pharmaceuticals granted CoS for Cefotaxime Sodium
-Orchids inks pact with Par Pharmaceuticals Inc, to market oral cephalosporin formulations in US market
- Orchid Chemicals and Pharmaceuticals Ltd forges alliance with US-based Par Pharmaceuticals to market oral cephalosporin antibiotics.
-- Orchid Chemicals and Pharmaceuticals Ltd [Orchids] has entered into an agreement with Apotex Inc for an exclusive marketing pact in the Canadian market.
-Granted the Certificate of Suitability [CoSs] by European Directorate for Quality of Medicines for its API product Cephradine
-Orchid Chem enters into US market
2005
-Orchid pact with Alpharma Inc to market oral non-antibiotic formulations in US and European markets
-Orchid enters into agreement with STADA Pharmaceuticals, Inc [USAs]
-Orchid Chemicals and Pharmaceuticals Ltd has received approval from USFDA for generic Ceftriaxone ANDA
2006
-Orchid signs deal with Biovitrum in drug discovery field.
2008
- Orchid Chemicals and Pharmaceuticals Ltd on February 20, 2008 has announced that it has received approval from the US FDA for its ANDA [Abbreviated New Drug Applications] for Cefuroxime Axetil Tablets. The product is available in three dosage strengths, 125 mg, 250 mg & 500 mg.
-Orchid Chemicals & Pharmaceuticals Ltd & Merck and Co have forayed into research collaboration & licence agreement to discover, develop & commercialise molecules essential for treatment of bacterial & fungal infections.
