ICICI Direct's research report on Alembic Pharma
Alembic Pharma operates in international generics (54%), domestic branded (28%) and API (18%).Exports contribute 69% of sales (US~74%), domestic contributes 31% of sales (Chronic~69% & Acute~31%) It has filed 212 ANDA and has 146 approvals with 94 product launches
We maintain our HOLD rating on the stock We value Alembic at Rs 885 i.e. 20x P/E on FY23E EPS
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