The 50% stake that Orchid holds in the joint venture company (NCPC – Orchid Pharmaceuticals) will be transferred to the partner company (NCPC) for a total cash consideration of USD 13.9 million.

Orchid had in 2002 entered into a 50:50 JV with North China Pharmaceutical Corporation (NCPC) to set up Cephalosporin API manufacturing facility located in Shijiazhuang, China.