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| Orchid to bloom on new verticals | |||
| 14 Jul 2009
: Orchid Chemicals & Pharmaceuticals expects to log at least a 20 per cent year-on-year growth for the next three years as more verticals of the company have started generating revenue. Orchid had focused its attention on five verticals cephalosphorins, penicillin injectibles, carbapenems, non-antibiotics Para IV, which the company was the first to file, and research and development (R&D). While it was generating revenues only from cephalosphorins, it had to direct funds across all focussed verticals to support the development stage demands. So far, it was only cephalosphoporin that was generating revenue for us. Now, penicillin, which we have recently launched in Europe and will shortly be taking to the US, has joined the fray. This vertical will come into full revenue play by the end of this quarter, K Raghavendra Rao, managing director, Orchid Chemicals, told Financial Chronicle. Even as Carbapenems will join the revenue-play by early 2010-11, it will be the turn of non-antibiotics to start generating revenues in 2011-12. We are now on the cusp of our second wave of growth and are confident of achieving substantial growth of at least 20 per cent year-on-year over the next three years, Rao said. While more verticals are set to attain revenue-generating status from now on, the company has also re-addressed its focus on R&D, ever since Dr Gopalan, a former chief scientific officer (CSO) with Glenmark, joined Orchid Research Laboratories in the same capacity sometime ago. His joining helped us to focus on action-based development and set up a superlative team to offer a 360-degree support to the researches undertaken, Rao said. The team chose four therapeutic areas diabetes, pain management, oncology and anti-infection, instead of a wider canvas that it had focused for research in the past. We are methodical in doing it now, than in the past. Compared to the last three years, the next three years are going to see significant growth, as we feel more variable factors are now under our control, he pointed out. Orchid registered a turnover of around Rs 1,300 crore and a profit after tax of Rs 175 crore, which included a Rs 71 crore of FCCB-related forex gain in financial year 2007-08. For the nine-month period of financial year 2008-09, the company, on a consolidated basis, reported a topline of Rs 1,035 crore and a loss of Rs 76.48 crore, which included a FCCB forex related loss of Rs 171 crore. |
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