Orchid Pharma gets USFDA approval for Aripiprazole tablet

Orchid Pharma Limited, in its BSE filing on Wednesday, announced that it has received Abbreviated New Drug Application (ANDA) approval from US FDA for Aripiprazole Tablets USP, 2 mg, 5 mg, 10 mg, 15 mg, 20 mg, and 30 mg.

Aripiprazole Tablets are atypical antipsychotic indicated for the treatment symptoms of psychotic conditions such as schizophrenia and bipolar disorder (manic depression), said Orchid Pharma.

Orchid Pharma Limited was trading at Rs 30.25, up by Rs 0.60 or 2.02%, on Wednesday, on the BSE. The stock had hit an intraday high of Rs 31.85.

Orchid Chemicals & Pharmaceuticals Ltd (Orchid) is a globally recognised, integrated pharmaceutical company with core competencies in the development and manufacture of Active Pharmaceutical Ingredients (APIs) and Finished Dosage Forms as well as in drug discovery, which was incorporated on 1st July 1992 as a 100% Export Oriented Unit (EOU).

Stock view

Orchid Pharma Ltd is currently trading at Rs 29.6, down by Rs 0.05 or 0.17% from its previous closing of Rs 29.65 on the BSE.

The scrip opened at Rs 29.95 and has touched a high and low of Rs 31.85 and Rs 29.1 respectively. So far 818366(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 263.78 crore.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 45.85 on 28-Sep-2016 and a 52 week low of Rs 23.7 on 22-Nov-2016. Last one week high and low of the scrip stood at Rs 34.25 and Rs 29.2 respectively.

The promoters holding in the company stood at 25.72 % while Institutions and Non-Institutions held 5.14 % and 65.52 % respectively.

The stock is currently trading below its 200 DMA.