08 Jul , 2025 By : Debdeep Gupta
Nectar Life has been attempting to streamline its operations and strengthen its financial position in order to unlock shareholder value.
Nectar Lifesciences on July 8 said in an exchange filing that it will sell its core business division of active pharmaceutical ingredients and formulation along with menthol business assets to Ceph Lifesciences for Rs 1,290 crore on a slump sale basis.
Shares of the pharma company were sharply lower by over 13 percent in early trade on July 8.
"Additionally, the Company has entered into an Asset Purchase Agreement (APA) for the sale of its menthol business assets to Ceph Lifesciences for Rs 20 crore, marking a comprehensive restructuring move aligned with its future strategy," the statement said.
"This transaction marks a significant milestone in Nectar Lifesciences’ evolution. By divesting mature segments of our business, we are laying the foundation for a focused and agile organization geared towards innovation and long-term value creation," Sanjiv Goyal, Promoter and Chairman of Nectar Lifesciences said.
Nectar Life has been attempting to streamline its operations and strengthen its financial position in order to unlock shareholder value.
The sale proceeds from will be used to repay existing debt, invest in new and emerging areas and reward shareholders, said the management. The pharma company aims to fund future corporate and growth initiatives through the proceeds.
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