Orchid Chemicals & Pharmaceuticals is currently trading at Rs. 68.65, up by 1.75 points or 2.62% from its previous closing of Rs. 66.90 on the BSE.
The scrip opened at Rs. 67.90 and has touched a high and low of Rs. 69.70 and Rs. 66.80 respectively. So far 282258 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 193.70 on 20-Apr-2012 and a 52 week low of Rs. 53.00 on 05-Mar-2013.
Last one week high and low of the scrip stood at Rs. 69.70 and Rs. 62.15 respectively. The current market cap of the company is Rs. 481.19 crore.
The promoters holding in the company stood at 32.42% while Institutions and Non-Institutions held 12.13% and 50.87% respectively.
Chennai-based global pharma major, Orchid Chemicals & Pharmaceuticals (Orchid) has entered into a strategic partnership with Europe-based venture capital funded Allecra Therapeutics to develop novel antibiotics to combat multi-drug resistant bacterial infections. As part of its investment into Allecra, Orchid has assigned to Allecra IP (Intellectual Property) related to an antibiotic discovery program which will then be pursued through further trials by Allecra.
Under the terms of the Agreement, together with shareholding, Orchid will also be paid an upfront sum and is eligible to receive further royalties and exit bonuses based on Allecra's progress.
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).
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