US generic sales pressure from competition
US generic sales declined due to additional competition on certain products, and recovery depends on resolving manufacturing compliance issues at several sites.
SUNPHARMA / Q3-FY26 / risks
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Sunpharma · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
high
Proposed US Most Favored Nation pricing models
CMS proposed pricing models could impact US revenues; management declined to share mitigation strategies, citing commercial sensitivity.
Higher effective tax rate impacting PAT growth
Effective tax rate rose to ~25% from ~15% last year, dampening PAT growth relative to EBITDA growth; expected to remain in that range.
Milestone income may not recur
Management noted that milestone income of $55 million in Q3 may not recur in future quarters, potentially impacting revenue comparability.