Orchid Chemicals & Pharmaceuticals (Orchid Pharma), a Chennai-based global pharma major, is exiting its 50:50 manufacturing joint venture (JV) in China. The 50% stake that Orchid holds in the JV company NCPC-Orchid Pharmaceuticals, will be transferred to the partner company NCPC for a total cash consideration of $13.9 million (RMB 87.5 million).
In 2002, Orchid had entered into a 50:50 JV with North China Pharmaceutical Corporation (NCPC) to set up a Cephalosporin API manufacturing facility located in Shijiazhuang, China.
Orchid Chemicals & Pharmaceuticals 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 (EOU).
