Orchid Pharma’s PAT surges by 71.60% in Q4

New Delhi: Orchid Pharma has announced financial performance for the fiscal year 2023-2024, with a notable increase in Profit After Tax (PAT) of 71.60%. 

Manish Dhanuka, Managing Director of Orchid Pharma, stated, “Our revenues have experienced a significant increase over the past year. We have concentrated on maximizing capacity utilization while maintaining stringent cost controls. The positive outcomes of these initiatives, combined with a robust product pipeline and Capex of more than 800 Crore over the next few years, indicate promising future prospects.”

A significant highlight of this quarter is the groundbreaking progress achieved by Orchid Pharma’s novel drug, Enmetazobactam. With approvals from both the US Food and Drug Administration (USFDA) and the European Medicines Agency (EMA), the drug is poised for imminent launch. 

This marks a monumental milestone for India, as Enmetazobactam becomes the first domestically invented drug to attain such recognition. This achievement not only underscores India’s prowess in pharmaceutical innovation but also addresses the urgent need for affordable and effective solutions to combat Anti-Microbial Resistance (AMR) globally, which is associated with over 5 million deaths annually.

It’s noteworthy that the Dhanuka Group, through its pharmaceutical arm, Dhanuka Laboratories Ltd., took control of Orchid Pharma through the Corporate Insolvency Resolution Process (CIRP) on March 31, 2020. Despite the challenges posed by the COVID-19 pandemic, the group’s relentless efforts have led to a remarkable turnaround in the business, resulting in profitability within a short span.

In the near term, the implementation of the Production Linked Incentive (PLI) project for 7-ACA is expected to enhance Orchid’s supply chain through comprehensive backward integration. With a strong product launch pipeline and significant investments underway, Orchid is poised to emerge as a formidable player in the Cephalosporin Antibiotics space globally.