Shares of Hyderabad-based Cohance Lifesciences declined nearly 2% on Friday, extending losses for the third straight session. The large-cap pharma stock has fallen over 9% in three sessions amid reports of a stake sale by the promoter.

As per exchange data, promoter Jusmiral Holdings sold an 8.9% stake in Cohance Lifesciences for ₹3,094 crore via open market transactions on September 18. Jusmiral Holdings sold 3.41 lakh shares in the contract development and manufacturing firm at ₹906 apiece, amounting to ₹3,093.8 crore. At the end of the June quarter of FY26, Jusmiral Holdings’ shareholding in the company stood at 66.41%.

“This disclosure is consequent to a sale of 3,41,48,000 shares by Jusmiral Holdings Limited on September 18, 2025,” the company said in an exchange filing.

The release noted that the fund proceeds will be used primarily for part payment of the borrowings under the Notes Purchase Agreement, disclosures in respect of which were made on May 9, 2025, by Jusmiral Holdings.

Weighed down by this development, Cohance Lifesciences shares fell as much as 1.9% to ₹896.70 on the BSE. At the time of reporting, the stock was trading 0.45% lower at ₹910, with a market capitalisation of ₹34,813.60 crore.

On September 18, the pharma stock had ended 5.5% lower at ₹914.15 amid a surge in selling activity following the block deal by the promoter. In the calendar year 2025, Cohance Lifesciences’ share price has fallen over 15%, while it lost over 1% in a month.

The counter touched its 52-week high of ₹1,359.00 on December 2, 2024, and a 52-week low of ₹856.90 on August 28, 2025.

Clarifies media reports on USFDA inspection of Nacharam Facility

In a separate release issued yesterday, Cohance Lifesciences also clarified recent media reports regarding the U.S. FDA inspection of its Finished Dosage Formulations Facility (FDF Unit-I) in Nacharam, Hyderabad. The company had previously informed stock exchanges on August 13, 2025, that the inspection had resulted in Form 483 with six observations.

“In view of the reported news in the aforesaid electronic media analysing the Form 483 observations, we wish to clarify that the Company has submitted a comprehensive Corrective and Preventive Action (CAPA) plan within the stipulated timeframe. We are actively engaging with the USFDA and remain committed to ensuring the highest standards of quality and compliance across all our manufacturing facilities,” it said.

The company underlined that U.S. revenues from this facility contributed less than 2% of consolidated revenues in FY25, with related EBITDA contribution below 1%, indicating no material impact.

“We would like to inform that we remain committed to maintaining the highest standards of quality and regulatory compliance in all our operations and will continue to ensure the manufacture and supply of high-quality pharmaceutical products for global markets,” it added.

Jefferies initiated ‘Buy’ call

Last month, Jefferies initiated a ‘Buy’ call on Cohance Lifesciences with a target price of ₹1,150. The global brokerage house said that Cohance Lifesciences, with a global footprint across the US and India, is a differentiated Contract Development and Manufacturing Organization (CDMO) with niche capabilities in Antibody-Drug Conjugates (ADCs), including payloads, linkers, bioconjugation, and oligonucleotides.

Cohance is well-positioned to benefit from growth in the ADC industry, supported by a strong pipeline and multiple growth levers, driving an expected 20% sales CAGR and 26% EBITDA CAGR over FY25–28E, Jefferies said.

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