Latest news with #CephLifesciences
Business Standard
4 days ago
- Business
- Business Standard
Nectar Life slumps on selling core pharma business to Ceph Lifesciences for Rs 1,270 Cr
Nectar Lifesciences plunged 17.75% to Rs 19.05 after the company announced a major strategic move, selling its core business division to Ceph Lifesciences for Rs 1,270 crore. 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.
Economic Times
4 days ago
- Business
- Economic Times
Nectar to sell API, formulations & menthol biz to Ceph Lifesciences for Rs 1,290 cr
Synopsis Nectar Lifesciences will sell its active pharmaceutical ingredients, formulation, and menthol business assets to Ceph Lifesciences for ₹1,290 crore. This strategic move involves a Business Transfer Agreement for the core API and formulation business at ₹1,270 crore and an Asset Purchase Agreement for the menthol business at ₹20 crore. Reuters Representative image Nectar Lifesciences Ltd on Tuesday said it will sell its active pharmaceutical ingredients and formulation along with menthol business assets to Ceph Lifesciences Pvt Ltd, for Rs 1,290 crore. The company has signed a definitive Business Transfer Agreement (BTA) for the sale of its core business division, comprising the manufacture, distribution, and marketing of Active Pharmaceutical Ingredients (APIs) and formulations to Ceph Lifesciences for Rs 1,270 crore on a slump sale basis, Nectar said in a regulatory filing. 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, it added. "By divesting mature segments of our business, we are laying the foundation for a focused and agile organisation geared towards innovation and long-term value creation," Nectar Lifesciences Promoter and Chairman Sanjiv Goyal said. Nectar Lifesciences said the transaction forms a part of its long-term strategy to streamline operations, strengthen its financial position, and unlock value for shareholders. "The proceeds from the sale will be used to repay existing debt, invest in new and emerging business areas and reward shareholders, subject to applicable approvals," the company said. Besides, the proceeds will also be used to fund future corporate and growth initiatives, it added. The transaction is expected to be completed on or before September 20, 2025, subject to customary approvals, the filing said, adding there would be no change in the company's existing shareholding.
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Business Standard
5 days ago
- Business
- Business Standard
Nectar Lifesciences hits 52-week low; why are investors dumping stock?
Nectar Lifesciences share price hit a 52-week low at ₹18.6 per share, slipping 19.6 per cent in trade. At 10 AM, Nectar Lifesciences shares were trading 16.62 per cent lower at ₹19.31 per share on the BSE. In comparison, the BSE Sensex was up 0.04 per cent at 83,478.31. The selling pressure came after the company's move to sell off its core business division to Ceph Lifesciences Private Limited disappointed investors. In the exchange filing the company said that it has inked a definitive Business Transfer Agreement (BTA) for the sale of its core business division—comprising the manufacture, distribution, and marketing of active pharmaceutical ingredients (APIs) and formulations—to Ceph Lifesciences Private Limited, for a consideration of ₹1,270 crore, on a slump sale basis. Additionally, the company has entered into an Asset Purchase Agreement (APA) for the sale of its menthol business assets to Ceph Lifesciences for ₹20 crore, marking a comprehensive restructuring move aligned with its future strategy. "By divesting mature segments of our business, we are laying the foundation for a focused and agile organisation geared towards innovation and long-term value creation," Nectar Lifesciences Promoter and Chairman Sanjiv Goyal said. The proceeds from the sale will be used to: repay existing debt, invest in new and emerging business areas, reward shareholders, subject to applicable approvals, and fund future corporate and growth initiatives. The transaction was approved by the company's board on July 7, 2025, and is subject to shareholder approval at the Extraordinary General Meeting (EGM) to be held on August 4, 2025. The transaction is expected to be completed on or before September 20, 2025, and there will be no change in the company's existing shareholding. ALSO READ | About Nectar Lifesciences Limited Nectar Lifesciences Ltd. is an established pharmaceutical company focused on research-driven innovation, manufacturing, and global distribution. The company is listed on the NSE and BSE and is committed to enhancing stakeholder value through disciplined strategy and operational excellence.
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Business Standard
5 days ago
- Business
- Business Standard
Nectar to sell API, formulations and menthol biz to Ceph for ₹1,290 cr
Nectar Lifesciences Ltd on Tuesday said it will sell its active pharmaceutical ingredients and formulation along with menthol business assets to Ceph Lifesciences Pvt Ltd, for ₹1,290 crore. The company has signed a definitive Business Transfer Agreement (BTA) for the sale of its core business division, comprising the manufacture, distribution, and marketing of Active Pharmaceutical Ingredients (APIs) and formulations to Ceph Lifesciences for ₹1,270 crore on a slump sale basis, Nectar said in a regulatory filing. Additionally, the company has entered into an Asset Purchase Agreement (APA) for the sale of its menthol business assets to Ceph Lifesciences for ₹20 crore, marking a comprehensive restructuring move aligned with its future strategy, it added. "By divesting mature segments of our business, we are laying the foundation for a focused and agile organisation geared towards innovation and long-term value creation," Nectar Lifesciences Promoter and Chairman Sanjiv Goyal said. Nectar Lifesciences said the transaction forms a part of its long-term strategy to streamline operations, strengthen its financial position, and unlock value for shareholders. "The proceeds from the sale will be used to repay existing debt, invest in new and emerging business areas and reward shareholders, subject to applicable approvals," the company said. Besides, the proceeds will also be used to fund future corporate and growth initiatives, it added. The transaction is expected to be completed on or before September 20, subject to customary approvals, the filing said, adding there would be no change in the company's existing shareholding. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
