ORCHIDPHAR

Orchid Chemicals & Pharmaceuticals Limited has informed that in the meeting of the board held on May 12, 2014, Shri. K N Venkatasubramanian, (Non-Executive, Independent Director) has been designated as the Chairman of the Company and consequent to this, Shri K. Raghavendra Rao has been re-designated as the Managing Director of the Company.

Orchid Chemicals & Pharmaceuticals Ltd has informed the Exchange that the Board of Directors of the Company at its meeting held on March 31, 2014, have fixed the accounting period for the financial year 2013-14 for a period of 12 Months from October 01, 2013 to September 30, 2014.

Orchid Chemicals & Pharmaceuticals Limited has informed that the Register of Companies (ROC), Chennai, Tamil Nadu has granted approval for the extension for holding the Annual General Meeting (AGM) of OCPL for the financial year 2012-13 (18 months) by a period of 3(three) months i.e. upto March 19, 2014.

Orchid Chemicals & Pharmaceuticals Limited has informed the Exchange that Orchid's Oral Formulations facility at Irungattukottai near chennai was successfully inspected and accepted by the USFDA without any observations.

Orchid Chemicals & Pharmaceuticals Limited has informed the Exchange that In accordance with Clause 49 of the Listing Agreement , the Company wishes to inform that Orchid's Cephalosporin API manufacturing complex located in Alathur, Chennai has successfully cleared the USFDA inspection that it went through. The facility manufactures a range of oral and sterile Cephalosporin APIs and caters to the developed markets like USA, Europe and Japan.

Orchid Chemicals & Pharmaceuticals Limited has informed the Exchange that Orchid's Cephalosporin API manufacturing complex located in Alathur, Chennai has successfully cleared the USFDA inspection that it went through. The facility manufactures a range of oral and sterile Cephalosporin APIs and caters to the developed markets like USA, Europe and Japan.

Orchid Chemicals & Pharmaceuticals Limited has informed the Exchange that Industrial Development Bank of India has withdrawn the nomination of Shri. T. A. Ganesh and instead appointed Shri. K. Biju George, Deputy General Manager, IDBI Bank Ltd, Chennai as its nominee on the Board of the Company with effect from June 06, 2012.

Orchid Chemicals & Pharmaceuticals Limited has informed the Exchange that the Hon'ble High Court of Madras has sanctioned the Scheme of Amalgamation for Merger of Orchid Research Laboratories Limited with Orchid Chemicals & Pharmaceuticals Limited.

Orchid Chemicals & Pharmaceuticals Limited has informed the Exchange that Shri R. Sankaran has resigned from the Board of the Company with effect from January 09, 2012.

Orchid Chemicals & Pharmaceuticals Limited has informed the Exchange that there was a fire that broke out in a portion of the New Drug Discovery Laboratories located in the Company's research subsidiary Orchid Research Laboratories Limited, Sholinganallur, Chennai. The fire was brought under control by the Tamil Nadu Fire Services squad assisted by the Orchid safety team. There was damage to office and laboratory equipment, furniture and building interiors. However, there were no injuries to anyone.

Orchid Chemicals & Pharmaceuticals Limited has informed the Exchange that Orchid's Cephalosporin API manufacturing facility located in Alathur (Chennai) was issued a Closure Notice by the Tamilnadu Pollution Control Board (TNPCB) citing some non-compliance with regard to the disposal of solid waste. The Company is in active dialogue with the TNPCB officials and is confident of resolving the issues and bringing the plant to a fully operational stage at the earliest.

Orchid Chemicals & Pharmaceuticals Limited has informed the Exchange that "Orchid has received approval from the US Food and Drug Administration (US FDA) for its ANDA (Abbreviated New Drug Application) for Levetiracetam Tablets, 1000 mg."

Orchid Chemicals & Pharmaceuticals Limited has informed the Exchange that the Company has received the tentative approval from the US Food and Drug Administration (US FDA) for its Abbreviated New Drug Application (ANDA) for its generic drug Gemifloxacin Mesylate tablets in 320 mg strength.

Orchid Chemicals & Pharmaceuticals Ltd has informed the Exchange that the Company has purchased USD 19.778 million aggregate face value of Bonds. The Company is in the process of extinguishing such Bonds.

Orchid Chemicals & Pharmaceuticals Ltd has informed the Exchange that "The Company is exploring opportunities for the buy-back of outstanding FCCBs issued by the Company pursuant to, and in compliance with, RBI regulations. The Company may purchase the bonds from the markets and extinguish from time to time at its sole discretion, under the regulations".

Orchid Chemicals & Pharmaceuticals Ltd has informed the Exchange that the Company has so far purchased USD 37.8 million aggregate face value of 2012 bonds (US$ Zero Coupon Convertible Bonds due 2012) and USD 2.25 million aggregate face value of 2010 bonds (US$ Zero Coupon Convertible Bonds due on 2010) and the said bonds have been extinguished.

Orchid Chemicals & Pharmaceuticals Ltd has informed the Exchange that the Company has purchased USD 12.1 million aggregate face value of Bonds. The Company is in the process of extinguishing such Bonds. Further, the Company may also purchase from the markets and extinguish additional Bonds from time to time at its sole discretion.

Orchid Chemicals & Pharmaceuticals Ltd has informed the Exchange that the Company has purchased USD 25.7 million aggregate face value of Bonds and is in the process of extinguishing such Bonds. Further, the Company may also purchase from the markets and extinguish additional Bonds from time to time at its sole discretion.

Orchid Chemicals & Pharmaceuticals Ltd has informed the Exchange that the Compensation Committee of the Board, has revised by increasing the exercise period of options granted under ORCHID - ESOP 1999 and ORCHID - ESOP 2005 Schemes to 3 years from the date of vesting.