Nectar Lifesciences to Sell API and Formulations Business to Ceph Lifesciences for ?1,270 Crores

Nectar Lifesciences Limited, a leading pharmaceutical 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 Private Limited for a consideration of ?1,270 crore. The Company has also entered into an Asset Purchase Agreement (APA) for the sale of its menthol business assets to Ceph Lifesciences for ?20 crore. The proceeds from the sale will be used to repay existing debt, invest in new and emerging business areas, reward shareholders, and fund future corporate and growth initiatives.