The company made the announcement during trading hours today, 4 December 2008.Meanwhile, the BSE Sensex was up 249.40 points, or 2.85%, to 8,996.83.On BSE, 33,496 shares were traded in the counter. The stock had an average daily volume of 1.15 lakh shares in the past one quarter.The stock hit a high of Rs 85.75 and a low of Rs 81.25 so far during the day. The stock hit a 52-week high of Rs 330 on 16 April 2008 and a 52-week low of Rs 66.85 on 25 November 2008.
The small-cap stock had underperformed the market over the past one month till 3 December 2008, declining 24.46% as compared to the Sensex's decline of 15.38%. It had also underperformed the market in the past one quarter, falling 67.82% as compared to the Sensex's decline of 41.88%.The company's current equity is Rs 70.44 crore. Face value per share is Rs 10.
Orchid Chemicals & Pharmaceuticals has received approval from US Food & Drug Administration (US FDA) for Divalproex Sodium tablets USP in multiple strengths.Orchid Chemicals in October 2008 secured US FDA approval for three of its abbreviated new drug application for Cefuroxime for injection in multiple strengths.
Orchid Chemicals had in September 2008 signed a pact with US based Merck & Co Inc to develop novel anti-infective drugs.Orchid Chemicals & Pharmaceuticals reported a net loss of Rs 40.66 crore in Q2 September 2008 as compared to net profit of Rs 63.27 crore in Q2 September 2007. Net sales rose 18.7% to Rs 348.45 crore in Q2 September 2008 over Q2 September 2007.
The company is engaged in manufacturing and selling pharmaceuticals ingredients and finished dosage forms. The company exports to Asia Pacific, Europe, Middle East, South and Central America, North America and Commonwealth of Independent States (CIS) countries.
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