Orchid gets favorable report for its formulation facility near Chennai

Orchid Pharmaceutical said the FDA gave its facility near Chennai a favorable inspection report. The plant manufactures generic oral formulations.

The company said it had received an Establishment Inspection Report (EIR) from the U.S. regulatory agency for its plant located at Irungattukottai, in the Kancheepuram district near Chennai. The plant was inspected by agency officials last May, the Business Standard reported.

Last month, Orchid announced that its European subsidiary signed an $800 million loan agreement with Line Trust International to be used to help grow its business. The company has planted flags in such pharma areas as anti-infectives, anti-inflammatory, central nervous system, cardiovascular, nutraceuticals and other oral and sterile products.

In 2014, Hospira--which is now owned by Pfizer ($PFE)--acquired an API plant and R&D site in Aurangabad from Orchid--then known as Orchid Chemicals & Pharmaceuticals--for $218 million. The deal was part of Hospira's plan to become less reliant on third-party ingredient supplies.

- see the Business Standard article

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