Shares of Orchid Pharma Ltd shot-up 9% higher on 6 June after the company announced receiving approval from the Drugs Controller General of India (DCGI) to market the company’s antibiotic drug combination that is used for the treatment of complicated urinary tract infection (UTI).

The company in its regulatory filing said that the DCGI has approved manufacturing and marketing their first invented Enmetazobactam, a new chemical entity (NCE) active pharmaceutical ingredient (API). 

The Antibiotic Drug Combination of Cefepime and Enmetazobactam will be used as a dry powder injectable. 

Manish Dhanuka of Orchid Pharma said, “This is a beta-lactamase inhibitor, which goes with the antibiotics, and we are happy to announce that we have got the approval for this new inventor molecule which was invented by Orchid a few years back and a combination drug involving Enmetazobactam along with an antibiotic called Cefepime.”

Manish added that they are planning to obtain manufacturing licences from the state licensing authority, and they expect it to take around two months. The company is planning to launch the drug in August. 

Dhanuka added, “Enmetazobactam’s approval in India is personally fulfilling as being an Indian company, we wanted to expand access to advanced and affordable treatment options for patients in India.”

At 3:30 pm, the shares of Orchid Pharma closed 5.72% higher at Rs 1,056 on NSE.