Orchid Chemicals to buy US based Karalex Pharma

MUMBAI: Orchid Chemicals is all set to buy US based Karalex Pharma. The acquisition is likely to be completed this month. (Watch)

The acquisition will help Orchid Chemicals add revenue of $20 million from Karalex. The company is expected to double the business in next three years.

Shares of Orchid Chemicals shot up 3.39 per cent or Rs 4.90 to Rs 149.25 in today’s trade. It touched a high of Rs 151.40 and low of Rs 145.15 on volume of 14.29 lakh shares on the NSE.