Price erosion in Sacubitril/Valsartan
The key US launch faces competitive pressure; price erosion could impact US growth trajectory in coming quarters.
high · management_commentaryAlkem Laboratories Limited — Q2 FY26
Alkem delivered a strong Q2 FY26 with revenue of INR 4,001 crore (+17.2% YoY), EBITDA of INR 921 crore (+22.3% YoY), and PAT of INR 765 crore (+11.1% YoY).
bullish
high
Financial stats pending filing verification
Risk Intelligence
Material risks this quarter
Concise cards keep the risk register scannable while preserving evidence-level context in the underlying quarter data.
Risks
GST impact on profitability
Loss of Sikkim facility benefit will result in INR 50-60 crore impact in H2, pressuring margins.
medium · management_commentaryUS CDMO plant ramp-up risk
New US CDMO plant will incur ~INR 50 crore quarterly OpEx with only ~INR 20 crore revenue initially, delaying breakeven.
medium · analyst_questionPenicillin G MIP uncertainty
Potential government MIP on penicillin G could increase costs; management declined to comment as it is speculative.
medium · analyst_question