Orchid Pharma Shares Rise 9% After Russia Deal For Antibiotic Exblifep

Shares of Orchid Pharma Ltd gained sharply on Tuesday after the pharmaceutical company announced an exclusive licensing and supply agreement with Russia-based drugmaker Pharmasyntez JSC for its advanced antibiotic Exblifep. The stock opened over 9% higher on the BSE, trading at Rs 1,012.85 around 9:15 am, following the announcement of the partnership. The agreement is expected to expand the global presence of Orchid’s antibiotic and provide access to the Russian market, where the company estimates a potenti