Chennai, India | November 29, 2013


Consolidated earnings for the fiscal ended September 30, 2013 (FY13)

  • Turnover of Rs. 1988 crore [US$ 317.6 million] in FY13 (18 months) compared to Rs. 1902 crore [US$ 303.8 million] during FY12 (12 months)
  • Earnings before Interest, Depreciation and Tax stood at Rs. 151 crore [US$ 24.1 million] for the fiscal under review compared to Rs. 413 crore[US$ 65.9 million] registered during FY12
  • Net (Loss) for the fiscal ended September 30, 2013 stood at Rs (560) crore [US$ (89.4) million] compared to profit of Rs. 97 crore [US$ 15.6 million] for the previous fiscal
  • EPS for the fiscal ended September 30, 2013 stood at Rs. (79.21)

Financial year extension

The company had extended its financial year (FY 2012-13) by 6 months to September 30, 2013.

1 US$ = Rs 62.60


Update on the Corporate Debt Restructuring (CDR) initiative and the Business Transfer Agreement (BTA) with Hospira

The Company has been admitted by Corporate Debt Restructuring (CDR) cell for restructuring its loans and the process of finalization of the package is currently underway. The Business Transfer Agreement (BTA) entered into with Hospira is part of the CDR initiative and will be completed in line with the CDR process.

From the Chairman & Managing Director

"Despite the tough liquidity and working capital related issues we are going through, we have managed to sustain sales and operating profitability which denotes the basic strength of the business. We are currently in an advanced stage of discussion with regard to the CDR package with the banks. The approval of the CDR package will help us put operations back on track and given our sound quality processes and product pipeline we are confident of a stronger performance going forward"said Mr. K. Raghavendra Rao, Chairman & Managing Director, Orchid Chemicals & Pharmaceuticals Ltd.


Update on Regulatory filings

Formulations

United States
As on September 2013, the cumulative ANDA (Abbreviated New Drug Application) filings count in the US stood at 43. This includes 8 Para IV FTF (First-To-File) filings. The break-up of the total ANDA filings is 13 in the Cephalosporins space and 30 in the NPNC (Non-penicillin, Non-cephalosporin) space.

On the approvals front too, Orchid. The count of approved AND As increased to 32 as of September 2013. The break-up of the approved AND As comprises of 11 in Cephalosporin space and 21 in the NPNC space.

European Union
The cumulative count of Marketing Authorizations (MAs) filed in the EU region stood at 30 as of September 2013 with 15 in the Cephalosporin space and 15 in the NPNC space.

On the approvals front, Orchid has received approvals for 30 MAs comprising 15 in the Cephalosporin space and 15 in the NPNC space.

Active Pharmaceutical Ingredients (API)

During the fiscal year 2013, Orchid increased the filing count of its US DMFs to 90. Of these 27 DMFs pertain to the Cephalosporin category, 48 to NPNCs, 2 to the Penicillin and 13 to the Carbapenems segment.

Similarly, in European market, the filings of CoS (Certificate of Suitability) stood at 21 which includes 14 in Cephalosporin space, 6 in the NPNC space and 1 in the Betalactam segment.
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