Nectar Lifesciences' Strategic Asset Sale: A Move Towards Innovation

In a strategic restructuring move, Nectar Lifesciences Ltd announced the sale of its core business assets, including active pharmaceutical ingredients and formulations, along with menthol business, to Ceph Lifesciences Pvt Ltd for Rs 1,290 crore.

The sale, formalized through a definitive Business Transfer Agreement and an Asset Purchase Agreement, is part of Nectar's long-term strategy to streamline operations, bolster its financial stance, and enhance shareholder value.

According to Chairman Sanjiv Goyal, the proceeds will be used to clear existing debts, invest in new business ventures, and reward shareholders. The transaction is anticipated to complete by September 20, 2025, pending necessary approvals.

(With inputs from agencies.)