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Below is quote on Alembic Pharmaceuticals receives USFDA Tentative Approval for Dronedarone, positive news for alembic pharmaceuticals, stock up 2% by Mr. Yash Gupta, Equity Research Analyst, Angel One Ltd   

Alembic Pharmaceuticals announced that the company has received US Food & Drug Administration (USFDA) Tentative Approval for Dronedarone Tablets USP, 400 mg. The tentatively approved ANDA is therapeutically equivalent to the reference listed drug product of Multaq Tablets, 400 mg, of Sanofi-Aventis. Dronedarone is indicated to reduce the risk of hospitalization for atrial fibrillation in patients in sinus rhythm with a history of paroxysmal or persistent atrial fibrillation. Dronedarone Tablets USP, 400 mg have an estimated market size of US$ 500 million for twelve months ending September 2021 according to IQVIA. This is a big approval for Alembic Pharmaceuticals, currently the company is trading at EV/EBITDA of 13.4 times and PE of 18.08 which is in range of the last 5 year. We have a neutral call on Alembic Pharmaceuticals Limited.

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