Views on Aurobindo Pharma receives USFDA Approval for Raloxifene Hydrochloride Tablet: Angel Broking

Views of Ms. Sarabjit Kour Nangra (VP Research - Pharma, Angel Broking)

Aurobindo Pharma receives USFDA Approval for Raloxifene Hydrochloride Tablet:

"Aurobindo Pharma announced that the company has received the final approval from the US Food & Drug Administration (USFDA) to manufacture and market Raloxifene Hydrochloride Tablets USP 60mg (ANDA 204310).The approved ANDA is bioequivalent and therapeutically equivalent to the reference listed drug product (RLD) Evista® Tablets, 60mg of Eli Lilly. Raloxifene Hydrochloride Tablets are indicated for treatment and prevention of osteoporosis in postmenopausal women. The product has an estimated market size of US$ 404mn for the twelve months ending June 2015 according to IMS. There are currently only three generic players along with the innovators, thus the drug can add to the company's revenues significantly. The drug conservatively can add US$ 30-40mn to the sales of the company. However, on back of valuations, we maintain our ACCUMULATE rating with a target of INR 872."

Shares of AUROBINDO PHARMA LTD. was last trading in BSE at Rs.753.9 as compared to the previous close of Rs. 754.75. The total number of shares traded during the day was 173900 in over 5249 trades.

The stock hit an intraday high of Rs. 779.7 and intraday low of 751.45. The net turnover during the day was Rs. 133223829.

Source : Equity Bulls

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