K Raghavendra Rao, chairman and managing director, Orchid Chemicals says the company has approached State Bank of India to delay the repayment of its USD 300 million debt.
K Raghavendra Rao, chief managing director, Orchid Chemicals and Pharmaceuticals says the company will continue to supply Cephalosporin to regulated markets including US.
Shares of Orchid Chemicals were on the rise after the pharmaceutical company sold its penicillin and penem business to US-based Hospira Inc for USD 200 million.
Orchid Chemicals and Pharmaceuticals expects its sales will grow at a slower 20% than the 25% it had seen earlier.
K Raghavendra Rao, chairman and managing director, Orchid Chemicals spoke to CNBC-TV18 about the fund-raising the company has undertaken and strategies of the company going ahead.
In an interview to CNBC-TV18, K Raghavendra Rao, managing director of Orchid Chemicals & Pharmaceuticals Ltd, said a fire took place last morning in one of the laboratories of basic research wing. However, he said, operations are not impacted by fire. “There is no impact on the commercial aspect of business.”
Orchid Chemicals seems to be in a bad situation. K Raghavendra Rao, managing director, Orchid Chemicals & Pharmaceuticals is concerned that raising equity might be difficult at this point.
K Raghavendra Rao, MD of Orchid Chemicals & Pharmaceuticals, in an interview with CNBC-TV18’s Udayan Mukherjee and Mitali Mukherjee, said that unless their share price halves, there won't be any impact on the margins.