 "Orchid Chemicals extends rally on USFDA nod for anti-bacterial tablets")
Shares of Orchid Chemicals & Pharmaceuticals have rallied 14% to Rs 56.15, extending its previous day’s 9% gain on the BSE, after the company said it has received nod from the United States Food and Drug Administration (USFDA) for generic anti-bacterial Gemifloxacin Mesylate tablets.
“The company has received approval from the USFDA for its abbreviated new drug application (ANDA) for Gemifloxacin Mesylate tablets in the strength of 320 mg”, Orchid Chemicals & Pharmaceuticals said in a filing to BSE.
The approval is with 180 days of generic drug exclusivity, it added.
The stock opened at Rs 54 and hit a high of Rs 57.40 on the BSE. The trading volumes on the counter more than doubled with a combined 2.56 million shares changed hands on the BSE and NSE till 0926 hours.
“The company has received approval from the USFDA for its abbreviated new drug application (ANDA) for Gemifloxacin Mesylate tablets in the strength of 320 mg”, Orchid Chemicals & Pharmaceuticals said in a filing to BSE.
The approval is with 180 days of generic drug exclusivity, it added.
The stock opened at Rs 54 and hit a high of Rs 57.40 on the BSE. The trading volumes on the counter more than doubled with a combined 2.56 million shares changed hands on the BSE and NSE till 0926 hours.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%