Nectar Life slumps on selling core pharma business to Ceph Lifesciences for Rs 1,270 Cr
The deal, executed on a slump sale basis, includes the manufacture, distribution, and marketing of APIs (active pharmaceutical ingredients) and formulations.
As part of the broader restructuring, Nectar has also signed an asset purchase agreement to divest its menthol business assets to Ceph Lifesciences for an additional Rs 20 crore.
The transaction, expected to be completed by 20 September 2025, is subject to shareholder approval at an extraordinary general meeting scheduled for August 4.
According to the company, this sale marks a significant pivot toward becoming a more focused and innovation-driven enterprise. Proceeds from the deal will be used to repay existing debt, invest in emerging opportunities, potentially reward shareholders and fund future growth initiatives.
The buyer, Ceph Lifesciences, is a non-promoter entity with no impact on Nectar's existing shareholding pattern post-transaction.
Sanjiv Goyal, promoter and chairman of Nectar Lifesciences, commented: "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. We thank our stakeholders for their continued trust and support as we embark on this next chapter."
Nectar Lifesciences is a pharmaceutical company focused on research-driven innovation, manufacturing, and global distribution.
The company will announce Q4 results on 7 July 2025. On a consolidated basis, net profit of Nectar Lifescience soared 399.36% to Rs 7.84 crore while net sales rose 0.48% to Rs 454.33 crore in Q3 December 2024 over Q3 December 2023.
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