Further destocking or patent expiry impact on commercial products
Two large commercial products faced earlier-than-expected volume recalibration due to patent expiry and inventory normalization; similar risks exist for other mature products.
COHANCE / Q3-FY26 / risks
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Cohance Lifesciences · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
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Nacharam facility warning letter may delay US market recovery
The Nacharam formulation site received a warning letter; US shipments remain suspended, and remediation may take time, impacting ~₹55 crore in deferred shipments.
Biotech funding environment continues to pressure subsidiary and ADC demand
Slower decision-making and contract renewals due to biotech funding constraints have muted subsidiary performance and ADC near-term demand.
Commercial ramp-up of phase 3 molecules may be slower than expected
Management acknowledged that the pace of commercial ramp-up has been slower than anticipated due to customer launch sequencing and cautious initial scale.