Orchid Chemicals & Pharmaceuticals (Orchid), a Chennai-based global pharma major, is considering a proposal whereby it may merge its wholly owned subsidiary - Orchid Research Laboratories with itself. The board will meet on January 07, 2012 to consider, discuss and transact this business.
Recently, Serum Institute of India (Serum) had hiked its stake in Orchid Chemicals & Pharmaceuticals. The institute had bought 5 lakh fresh shares for Rs 6.6 crore through open market transactions, according to the data available with the exchange.
Orchid is a pharmaceutical company engaged in development and manufacture of active pharmaceutical ingredients (APIs) and finished dosage forms. It is also engaged in research of new drugs. The company was incorporated in the year 1992 as a 100% export-oriented unit.