Orchid Chemicals & Pharmaceuticals on Monday said it has received US health regulator's approval to sell anti-epileptic levetiracetam tablets in the American market.
Pharmaceutical major Ranbaxy Laboratories, which has been linked to a hostile takeover bid of Chennai-based Orchid Chemicals, on Wednesday said the company does not believe in such practices.Solrex Pharma, reportedly a Ranbaxy promoter group firm, had acquired over 8 per cent stake in Orchid Chemicals through open market purchases. The Ranbaxy official also declined to confirm or deny if Solrex Pharma is a part of the Ranbaxy Group.
Orchid Chemicals & Pharmaceuticals (Orchid) on Wednesday announced that it has entered into an exclusive agreement with STADA Pharmaceuticals, the US subsidiary of STADA Arzneimittel, for the development and supply of six prescription generic drug pr
Orchid Chemicals & Pharmaceuticals Ltd said USFDA was approved by USFDA.
The capital market regulator has to recover Rs 64.85 lakh (Rs 6.48 million) from Ranbaxy's former independent director V K Kaul and Rs 12.97 lakh (Rs 1.29 million) from his wife Bala Kaul.
Spending allocation covers salaries, consultancy, litigation, material expense and regulatory costs.
The company will transfer its 50% stake in its JV firm, NTPC-Orchid Pharmaceuticals to NCPC for a total cash consideration of USD 13.9 mn.
US-based drug major Hospira will buy the injectable pharmaceuticals business of Chennai-based Orchid Chemicals for $400 million (Rs 1,860 crore).
Teva Pharmaceutical Industries Ltd has sued Indian drug makers, including Ranbaxy Laboratories and Dr Reddy's, for alleged patent violation of ingredients used in Coreg, used for treatment of cardiovascular diseases.
Pharma majors are collaborating with foreign companies to develop newer drugs.
United States-based drug major Forest Laboratories has sued three Indian pharmaceutical companies -- Orchid Chemicals and Pharmaceuticals, Lupin and Wockhardt -- along with four other manufacturers for coming up with imitations of patented drugs in the US.
Dr Reddy's Laboratories, Jubilant Organosys, Orchid Chemicals, Aurobindo Pharma and Shasun Chemicals and Drugs are among those who have borrowed either to expand locally or to acquire companies abroad, but are now struggling to repay the dues, analysts say. Some of the companies' debt now exceeds their market capitalisation, as local and global investors sold stocks on concerns over slowdown and falling revenues. A few drug makers may be forced to sell assets to repay debt.
Ranbaxy Laboratories on Tuesday announced a business alliance with Orchid Chemicals and Pharmaceuticals across multiple geographies and therapies, for finished dosage formulations and bulk drugs. The new alliance will explore new products and markets without disturbing the existing alliances. The deal is independent of any commitment related to management control and is a pure arm's length, independent strategic biz alliance. Ranbaxy will benefit from Orchid's future products
K Raghavendra Rao, the promoter and the managing director of Chennai-based Orchid Chemicals and Pharmaceuticals Ltd, has managed to garner the support of large institutional investors to thwart a takeover attempt.Solrex (believed to be a company of the Ranbaxy promoter group), is known to have bought 12 per cent in Orchid so far, which is being seen as the first steps towards a hostile takeover of the company.
It is a Budget with a strong emphasis on agriculture, education, healthcare and infrastructure.
Orchid Chemicals and Pharmaceuticals has announced the formation of Orchid Research Laboratories, a subsidiary that will house all of Orchid's research and development activity.
In a fresh round of patent battle over the launch of generic drugs in the US market, domestic pharmaceutical majors Orchid, Sun Pharma and Ranbaxy Laboratories have been sued by Cima Labs, Otsuka Pharmaceutical Co and Abbott Laboratories, respectivel
Privately held Solrex has acquired an 11.4 per cent stake in Chennai-based Orchid, a bulk drugs and formulations maker, in just two weeks. Deputy MD says Solrex is linked to Ranbaxy, but stake buy isn't a takeover attempt. Orchid shares have doubled in recent weeks amid Solrex's buying and speculation it was linked to Ranbaxy & was preparing a takeover. A Ranbaxy spokesman has said the company did not believe in hostile takeovers. Orchid has launched a unit in Japan recently.
Pharma major Orchid Chemicals & Pharmaceuticals on Monday said USFDA has completed inspection of its state-of-the-art formulations facility located at Irungattukottai in Chennai.
K Raghavendra Rao, one of the founding promoters and managing director of Orchid Chemicals and Pharmaceuticals, said he may initiate talks to buy back its 14.7 per cent stake that is now with Rexcel, a unit of pharma major Ranbaxy.
Post a correction 14,000 cannot be ruled out post March 2007 results.
Orchid Chemicals and Pharmaceuticals Ltd has entered into a marketing alliance with Australia-based Mayne Pharma, for distribution of select life-saving injectable antibiotic formulations.
Orchid Chemicals and Pharmaceuticals Ltd has entered into an exclusive agreement with Alpharma Inc for marketing its select non-antibiotic generic formulations in the US and Europe.
India's Orchid Chemicals & Pharmaceuticals Ltd said on Monday that US-based Apotex Corporation would sell its generic cephalosporins and other injectible antibiotics in the United States.\n\n\n\n
Orchid Chemicals and Pharmaceuticals is acquiring a Chennai-based firm for Rs 260 million ($5.4 million) in an all-cash deal to expand to speciality drugs, the Bombay Stock Exchange said on Tuesday.
Of BSE 500 companies, promoters of 142 companies have pledged their holding.
The move is part of a surveillance review to safeguard interest of investors in the capital market.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances