orchid chemicals
Orchid is a globally recognized, integrated pharmaceutical company with core competencies in the development and manufacture of Active Pharmaceutical At Orchid, safety is a culture and has always been kept at the forefront. We treasure our employees and value our infrastructure thereby inculcating the highest levels of safety principles.
Orchid Chemicals&Pharmaceuticals Ltd. is a leading pharmaceutical company headquartered in Chennai, India, involved in the development,
US-based pharmaceutical major Hospira has signed an agreement with Orchid Chemicals to acquire its antibiotic injectable facility based out of Chennai for nearly USD 400 million. The Deal is expected to be closed in Q1 of 2010
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the world leader in generic injectable pharmaceuticals, and Orchid Chemicals & Pharmaceuticals Ltd. , a leading Indian pharmaceuticals company and among the top-five generic beta-lactam antibiotics manufacturers globally, today announced an agreement for Hospira to acquire Orchid’s generic injectable finished-dosage form pharmaceuticals business for approximately $400 million.
The acquisition includes Orchid’s beta-lactam antibiotics manufacturing complex (comprising cephalosporin, penicillin and carbapenem facilities) and pharmaceutical research and development (R&D) facility at Irungattukottai, Chennai, as well as its generic injectable product portfolio and pipeline. Beta-lactam antibiotics represent a class of drugs with a wide spectrum of antibacterial activity.
In addition, the companies signed a long-term exclusive agreement for Orchid to supply active pharmaceutical ingredients (APIs) for the acquired generic injectable pharmaceuticals business. This agreement builds on the existing product development and commercialization relationship between Hospira and Orchid.
“This acquisition aligns perfectly with Hospira’s strategy to improve our margins and cash flow, by lowering our cost position for a key product line, and to invest for growth, by expanding our presence globally and reinforcing our leadership position in generic injectables,” said Terry Kearney, chief operating officer, Hospira. “Orchid’s quality, speed to market and productivity are hallmarks of its business. We look forward to welcoming our new colleagues from Orchid and leveraging their collective knowledge to meet the evolving needs of Hospira’s customers.”
“This transaction and the long-term API contract are a testimony to the competitiveness of Orchid’s product portfolio in the global pharmaceuticals landscape, and its established capabilities in aseptic product manufacture. We are confident that Hospira will take our generic injectable pharmaceuticals business to even greater heights and provide enhanced career prospects to the employees being transferred. This transaction will provide Orchid with the financial flexibility to pursue new growth opportunities, and build upon our successful track record of value creation for our shareholders,” said Mr K Raghavendra Rao, managing director, Orchid.
Orchid Chemicals & Pharmaceuticals Ltd. is a leading pharmaceutical company headquartered in Chennai, India, involved in the development, manufacture and marketing of diverse bulk actives, formulations and nutraceuticals. With exports spanning more than 75 countries, Orchid is the largest manufacturer-exporter of cephalosporin bulk actives in India and is ranked amongst the Top 5-cephalosporin producers in the world. Orchid’s world-class manufacturing infrastructure includes multiple USFDA compliant API and dosage form facilities at Chennai and Aurangabad in India.
