Orchid Pharma shares advanced as much as 13 per cent after it informed bourses that the company has received the Establishment Inspection Report (EIR) from US Food and Drug Administration (USFDA) based on the successful inspection closure for the API manufacturing facility located at Alathur in Kancheepuram District, Tamil Nadu. The facility was inspected by USFDA in the month of August 2015.
At 12.14 pm, shares of Orchid Pharma were trading 6.84 per cent up at Rs 41.40. The scrip opened at Rs 39.45 and has touched a high and low of Rs 43.90 and Rs 39.45, respectively, in trade so far.
Later, the scrip closed 11.10 per cent up at Rs 43.05.
The promoters holding in the company stood at 39.92 per cent while institutions and non-institutions held 5.61 per cent and 54.47 per cent respectively.
The BSE group ‘B’ stock of face value Rs 10 has touched a 52 week high of Rs 75.30 on Aug 6, 2015 and a 52 week low of Rs 32.60 on Feb 29, 2016.
Orchid Pharma 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.