India's Orchid Pharma jumps to near 3-yr high as FDA clears UTI drug

Orchid Pharma

26/02/2024 04:24

** Shares of Orchid Pharma  ORCD.NS  rise ~12% to 1,359.95
rupees, their highest since June 2021
    ** US FDA approves Orchid Pharma's "enmetazobactam" to treat
urinary tract infections
    ** Co expects U.S. launch in next couple of quarters
    ** Stock last up 2.8%, set for best monthly gain since March
2021
    ** Stock up ~75% YTD after nearly doubling in value in 2023

 (Reporting by Kashish Tandon in Bengaluru)
 ((kashish.tandon@thomsonreuters.com))