Orchid Pharma reports positive EBIDTA in Q2' 2022
Post a successful turnaround of IBC case, the company continues its march towards growth and sustainability
NEW DELHI, Nov. 16, 2022 /PRNewswire/ — Orchid Pharma today announced their Q2’22 results. Fuelled by increasing sales and a laser sharp focus on costs, Orchid Pharma reported a 36% surge in total revenue from operations while the EBIDTA has jumped by 104% over the quarter ending September 2021.
Dhanuka Group, through its pharmaceutical arm, Dhanuka Laboratories Ltd, had taken over the company through the CIRP (Corporate Insolvency Resolution Process) on 31st March 2020. In spite of the COVID-19 Pandemic, the group through its relentless efforts has turned around the business and within a year made the loss-making business profitable.
Speaking on the Q2 results, Manish Dhanuka, Managing Director, Orchid Pharma said, “Our revenues have seen a sharp uptick over the last one year. We have focussed on increasing the capacity utilizations while controlling costs. Owing to all the measures we took, bearing fruit, and a strong product pipeline, the results are a sign of positive things to come.”
In the near future, the implementation of the PLI project of 7-ACA will lead to more comprehensive backward integration of Orchid’s supply chain. A robust product launch pipeline in tandem with all the other significant steps we are taking, is set to make Orchid an even stronger player in the Cephalosporin Antibiotics space in the world.
Established in 1992 as an export-oriented unit (EOU), Orchid Pharma Ltd. (Orchid) is a vertically integrated company spanning the entire pharmaceutical value chain with established credentials in research, manufacturing, and marketing.
Orchid, is the only Indian Pharmaceutical Company, to ever have invented a New Chemical Entity (NCE, also colloquially called New Drug) which has cleared Global Clinical Trials of Phase III. The molecule is out licensed (on Royalty model) and now under worldwide New Drug Approval Process.
Orchid is a pioneer in Production of Quality Cephalosporins especially the Sterile Products, for which it is the one out of the only three USFDA approved facilities in the world, and the only one from India. Besides this, the facility has other approvals like EU GMP, ANVISA and PMDA.
Dhanuka Group acquired Orchid Pharma Ltd. through CIRP (Corporate Insolvency Resolution Process) under IBC (Indian Bankruptcy Code) on 31st March 2020. Since, then the company has gone through a dramatic transformation going from a negative EBIDTA to healthy positive numbers.
Contacts:
Rajani Vickram,
+91-9999765958,
[email protected]
