Orchid Chemicals is currently trading at Rs. 132.10, up by 7.70 points or 6.19% from its previous closing of Rs. 124.40 on the BSE.
The scrip opened at Rs. 126.90 and has touched a high and low of Rs. 136.30 and Rs. 126.30 respectively. So far 810978 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 324.65 on 04-Apr-2011 and a 52 week low of Rs. 112.25 on 19-Dec-2011.
Last one week high and low of the scrip stood at Rs. 160.15 and Rs. 112.25 respectively. The current market cap of the company is Rs. 876.30 crore.
The promoters holding in the company stood at 29.83% while Institutions and Non-Institutions held 18.30% and 47.29% respectively.
Orchid Chemicals & Pharmaceuticals (Orchid) has successfully achieved a milestone in its anti-infectives research collaboration with a subsidiary of Merck & Company, Inc (Merck). Consequent to recent progress, Orchid has received the initial $1.5 million milestone payment from Merck.
Under the terms of the agreement, Orchid is eligible to receive payments totaling more than $100 million associated with the achievement of various research and development milestones involving multiple candidates. Further, the company is also eligible to receive significant royalties on worldwide net sales of any products commercialized under the agreement.
The two companies announced a collaborative research agreement in September 2008, with focus on the discovery, development and commercialization of novel agents for the treatment of bacterial and fungal infections for which Orchid received an upfront payment.
Orchid's drug discovery efforts are conducted through its wholly-owned subsidiary, Orchid Research Laboratories.
Orchid is a pharmaceutical company engaged in development and manufacture of active pharmaceutical ingredients (APIs) and finished dosage forms. It is also engaged in research of new drugs. The company was incorporated in the year 1992 as a 100% export-oriented unit.
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