Orchid Chemicals & Pharmaceuticals, an Indian pharmaceutical company based in Chennai, announced that the company has received approval from the US FDA for the Abbreviated New Drug Application (ANDA) for Gemifloxacin Mesylate Tablets (320 mg) with 180 days of generic drug exclusivity.
Earlier, the company reported its net loss for the quarter ended March 2015 has widened to Rs 1,480.50. It reported a net loss of Rs 807.92 million in the same quarter previous year. Revenues for the quarter declined 32.68% to Rs 3,047.78 million, compared with Rs 4,527.26 million for the prior year period.
Total expenses were 91.24 percent of quarterly revenues, from 88.68 percent in the same period last year. This led to an improvement of 2.56 basis points in operating margin to 8.76 percent
Shares of the company gained Rs 4.2, or 9.3%, to trade at Rs 49.35. The total volume of shares traded was 414,351 at the BSE (3.47 p.m., Wednesday).