Orchid Chemicals & Pharmaceuticals, engaged is bulk drugs business, has informed that it will develop and manufacture an anti-coagulant drug candidate, which was initially discovered and developed through phase I by U. S. pharmaceutical giant Merck & Co. Inc. Chennai-based pharmaceutical company has invested in US-based Diakron Pharmaceuticals Inc., which has an exclusive license agreement with Merck for the compound. Orchid's investment in Diakron, through a combination of services and cash, will result in majority control for Orchid. The compound is an investigational oral anti-coagulant drug anticipated to have considerable potential. The market for oral anti-coagulant products is predicted to grow significantly to $5 billion over the next five years However the financial details of the deal were not disclosed. The stock of Orchid Chemicals closed on Thursday at Rs 256 on BSE. The total traded volume of shares was 199136.