Orchid Chemicals surges 16% on USFDA approval for Gemifloxacin Mesylate

MUMBAI: Shares of Orchid Chemicals closed 7.35points or 14.89 per cent up at 56.70after it surged 16.31 per cent in intraday trade as the company received approval from the US FDA for the abbreviated new drug application ( ANDA) for Gemifloxacin Mesylate Tablets with 180 days of generic drug exclusivity.

The company is present in segments like anti-infective, anti-inflammatory, central nervous system (CNS), cardio vascular segment (CVS), nutraceuticals and other oral and sterile products.

It recently got US FDA ANDA nod for Rivastigmine Capsules and Felodipine extended-release tablets.