Inventory destocking in commercial molecules
Two large commercial molecules are experiencing destocking, impacting pharma CDMO revenue growth. The destocking is expected to last the full year.
COHANCE / Q1-FY26 / risks
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Cohance Lifesciences · Material risks, their source context, and severity in the latest available quarter.
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Risk intelligence
Material risks this quarter
medium
Tariff exposure on US exports
Potential US tariffs on pharma intermediates could impact exports, though management noted current FOB terms and customer willingness to absorb tariffs.
One-time expenses impacting EBITDA
Ongoing one-time expenses (ESOP, professional fees) are distorting EBITDA margins, with no clear timeline for normalization.
Execution risk in new capacity ramp-up
The oligonucleotide and bio-conjugation expansions are on schedule but any delays could impact revenue contribution from niche technologies.