Orchid Chemicals forms a wholly-owned subsidiary in Japan

Orchid Chemicals & Pharmaceuticals Ltd has announced the formation of its wholly-owned subsidiary in Japan called Orchid Pharma Japan, headquartered in Tokyo.

The company claims that newly formed subsidiary will help Orchid foray into the high potential and growing Japanese generics market.

Chennai-based Orchid Chemicals & Pharmaceuticals Limited engages in the development, manufacture, sale, and export of active pharmaceuticals ingredients and finished dosage forms or formulations.

The company estimates that the generics market in Japan currently estimated at $2.5 billion could double itself in a span of 5 years.

Shares of the company gained Rs 5, or 2%, to trade at Rs 234. The total volume of shares traded was 6,111,991 at the NSE. (1.10 p.m., Friday)

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