Orchid Chemicals receives US FDA approval for Cefprozil

01/02/06 - newratings.com

LONDON, January 2 (newratings.com) – India-based Orchid Chemicals & Pharmaceuticals Monday announced that it has received the formal approval of the US FDA (Food and Drug Administration) for the ANDA (Abbreviated New Drug Application) for its Cefprozil oral suspension.

Orchid Chemicals & Pharmaceuticals said that it would launch Cefprozil in the US market through its marketing partner, Par Pharmaceuticals (PRX). Orchid Chemicals & Pharmaceuticals estimates the US market for the oral suspension at $120 million. Cefprozil is a generic version of Bristol-Myers Squibb's (BMY) Cefzil. Orchid Chemicals & Pharmaceuticals added that it would begin shipping Cefprozil to the US immediately. The company's share price rose 2.72% to Rs247.75 on the Bombay Stock Exchange on Monday.