Cohance Lifesciences MD resigns; share price crashes 10%, hits 52-week low

Cohance Lifesciences shares fell over 10% to a 52-week low after MD V Prasada Raju resigned. The pharma firm also faces USFDA "Official Action Indicated" status for its Hyderabad facility

Cohance Lifesciences , erstwhile Suven Lifesciences, share price tumbled 10.2 per cent on the BSE today, hitting a 52-week low of ₹767.10 per share, after the company’s managing director resigned from his post.

 

At 11:21 AM, the stock of the pharmaceutical company was trading 8.14 per cent lower on the BSE as against a 0.21 per cent (180 points) rise in the benchmark Sensex index.

Why did Cohance Lifesciences shares fall today?

 

Cohance Lifesciences shares saw heavy selling pressure on Wednesday amid the resignation of the company’s MD with immediate effect.

 

In an update to the stock exchanges, the company said the Board of Directors of the company at has approved the resignation of Dr. V Prasada Raju as the Managing Director and Director of the

 

 

Company.

 

“In view of his resignation, he will cease to be a Director and Key Managerial Personnel, with effect from close of business hours on October 28, 2025. However, he will continue to be available with the company in terms of his contractual terms and to facilitate seamless transition of his duties and responsibilities,” the company said.

 

Cohance Board, however, did not disclose the reason behind Raju’s exit.

 

Meanwhile, the Nomination and remuneration Committee has approved the appointment of Himanshu Agarwal, currently working as the Chief Financial Officer, as an Additional Director of the company, for a period of five years with effect from October 29, 2025.

 

Agarwal has been associated with the pharmaceutical company since January 2, 2024. He has previously worked with ICI India, Huhtamaki oyj, AkzoNobel India, Astra Zeneca Pharma, and Bennett, Coleman & Co.

 

USFDA action against Cohance Lifesciences

 

On October 26, Cohance Lifesciences informed the exchanges that the US Food and Drug Administration (USFDA) has classified the company’s inspection of the Hyderabad facility as “Official Action Indicated (OAI)”.

 

USFDA inspected the company’s Finished Dosage Formulations Manufacturing Facility (FDF Unit-I), located at Nacharam, Hyderabad, and issued Form 483 with six observations.

 

“The company is engaging proactively with the USFDA and has initiated a comprehensive remediation program and align the facility fully with global standards. The FDF Unit -1 facility at Nacharam continues to run its operations normally,” it said.

 

Notably, the Nacharam unit contributed less than 2 per cent of the company’s consolidated US revenues in FY25, with related Ebitda contribution below 1 per cent.

 

The company, thus, does not expect any material impact on its ongoing operations or supplies.

 

“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 said.