With the “hostile” hatchet now buried by Ranbaxy, the ball, it seems, is in the court of Chennai-based Orchid Chemicals and Pharmaceuticals Ltd.
There is no denying that Ranbaxy is interested in Orchid, but the approach will not be hostile, said a source close to the company. The Orchid management needs to decide on getting into […]
As a proxy fight for the control of drug maker Orchid Chemicals & Pharmaceuticals intensifies in the stock market, a key weapon in founder K Raghavendra Rao’s arsenal is a block of 50 lakh warrants that he can convert into an additional 7.6% equity stake and raise his chances of defense, market sources said.
This option […]
The founders of Orchid Chemicals & Pharmaceuticals Ltd have the option to convert 5 million warrants to 7.6 per cent of additional equity, founder and Managing Director Raghavendra Rao said on Wednesday.
“Yes, I have warrants,” Rao said over the telephone. “That converted into shares will mean 7.6 per cent.” The promoters had paid 10 per […]
Ranbaxy picks up 9.54% stake in Orchid Chemicals
Could Ranbaxy buy Orchid Chemicals ?
What could be the reason for rise in Orchid Shares?
Battle lines are being drawn in India’s pharmaceutical sector. A creeping acquisition has begun in the shares of Chennai-based Orchid Chemicals & Pharmaceuticals which has become vulnerable to acquisition after its share price fell […]
The Hyderabad-based Aurobindo Pharma has acquired TAD Italy, a generic Italian company with 70 ready to market products. The acquisition will help Aurobindo enter into the Italian generic market, in a big way.
The size of the deal was not disclosed.
“This deal will provide us with a ready local platform and will help us is immediately […]
The Orchid Chemicals stock tanked 38% in yesterday’s trade. The Orchid management told CNBC-TV18 that they have sold 7% of their stake due to margin calls.
After Bear Stearns transferred over 10 lakh Orchid shares, the stock price was under considerable pressure. As the margin calls positions are being cleared, they have no further plans to […]
Stock of Orchid Chemicals has been down 63% from its January 8 highs. The management has sold its 7% stake as its margin calls got triggered. The management had earlier hiked stake to 24% from 17%. It had no cash and hence had to liquidate its position. The company’s management stake is now back to […]
Glenmark Pharmaceuticals - Glenmark launches Nabumetone & Hydroxyzine Hydrochloride Tablets
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