Addressing media persons after the extraordinary general body meeting of the shareholders, Mr Rao said the new business plan scripted by the company has identified five new areas of growth such as broadening and widening its core cephalosporin business, a foray into non-cephalosporin drugs like central nervous system and cardiovascular drugs, new drug delivery and discovery systems, formulations and bio-enzymes and bio-transformation research.

All the projects, which the company has been implementing in these areas, would be completed within the next two years, Mr Rao said adding Orchid would invest a whopping $90 million to fund this plan. He said the company has tied up close to $70 million from its equity partners already. The remaining would be raised from the internal accruals of the company, he added.

Mr Rao said the company has introduced its version of Viagra, `Ulti-mate' in the market. However, he said, with the current restrictions, Orchid is not expecting this product to be a major money spinner for the company. The revenue from exports of this drug would be marginal, he added.

He said Orchid has filed 14 IPs so far with the US FDA and is expecting to get the patents soon. This includes patents for both process and products and that the company would be filing more patent applications when and where it develop new formulation or processes, he added.

He said Orchid has been diversifying exports to new geographical destinations and now is exporting to 60 countries around the world. The company's export to China as a percentage of its total exports has come down drastically to 40 per cent from 100 per cent four years back. He said, Orchid would be progressively reducing the Chinese share further down to 25 per cent.

He said in a bid to boost profitability, Orchid would focus only on specialty products, where margins are higher. He said the company is expecting to triple its business four year down the line as then the new business plans would start yielding results.