Orchid Pharma advances after USFDA nod for antipsychotic tablets

Orchid Pharma was locked at 5% upper circuit at Rs 18.30 at 14:49 IST on BSE after the company said that it has received abbreviated new drug application approval from the US drug regulator for Aripiprazole Orally-Disintegrating Tablets.

The announcement was made during market hours today, 12 December 2017.

Meanwhile, the S&P BSE Sensex was down 220.55 points, or 0.66% at 33,007.44. The S&P BSE Small-cap index was down 171.43 points, 0.95% at 17,956.49, underperforming the Sensex.

On the BSE, 93,544 shares were traded on the counter so far as against the average daily volumes of 1.17 lakh shares in the past one quarter. The stock was locked at a high of Rs 18.30 so far. The stock had hit a low of Rs 17.05 so far during the day. The stock had hit a 52-week high of Rs 39.70 on 18 April 2017 and a record low of Rs 16.70 on 15 September 2017.

The small-cap company has equity capital of Rs 88.96 crore. Face value per share is Rs 10.

Orchid Pharma said that it has received abbreviated new drug application (ANDA) approval from United States Food & Drug Administration (USFDA) for Aripiprazole Orally-Disintegrating Tablets USP, 10 mg and 15 mg today, 13 December 2017.

Aripiprazole Orally-Disintegrating Tablets are atypical antipsychotic, indicated in the treatment of symptoms of psychotic conditions such as schizophrenia and bipolar disorder (manic depression).

Orchid Pharma is a globally recognized, integrated pharmaceutical company with core competencies in the development and manufacture of Active Pharmaceutical Ingredients (APIs) and Finished Dosage Forms as well as in drug discovery.

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