Orchid Chemicals and Pharmaceuticals, the Chennai-based pharmaceutical company, achieved all-round performance during the year ended March 2006. Its consolidated net profit has taken a quantum jump of 159 per cent to Rs 57.30 crore from Rs 22.09 crore in the previous year. Its net sales also moved up by 29.7 per cent to Rs 951.87 crore from Rs 733.97 crore. The earning per share worked out to Rs 10.27 as against Rs 4.53 in the last period. The board of directors recommended equity dividend of 30 per cent of the year 2005-06.

K Raghavendra Rao, Managing Director, said, "The fiscal year 2005-06 has seen a new trajectory of higher growth, revenue and profitability for the company. The establishment of high-technology projects and facilities, pipeline of international regulatory filings and approvals, entry into the high-growth US generic market, alliances with large, global majors are the major factors that have contributed to the robust earnings and growth profile of the company. The US generics entry, in particular, has been highly successful and the company has been able to garner leading market share and revenue positions in several key antibiotic product introductions in the very first year."

Orchid integrated its Cephalosporin API business to form the backbone of its regulated market foray. A large portion of the company's API production is being used to service the ANDA filings and formulations manufacturing. Sale of bulk actives accounted for Rs 548 crore as compared to Rs 593 crore registered during the previous year. This excludes captive sale to the company's formulations business. The company has till date filed 28 DMFs with USFDA, maintaining the largest count in the Cephalosporin space from India. Further, it has filed 26 ANDAs also.

The finished dosage forms business established a high watermark of Rs 342 crore, compared to Rs 96 crore of last year supported largely by the US generics foray. The domestic formulations business maintained its position with a turnover of Rs 62.1 crore compared to Rs 50.20 crore. Orchid introduced 5 generic products in 11 dosage forms and 29 dosage strengths in the US market. Among these, 2 products are high-value products introduced upon patent expiry, while one is a niche generic