Nectar Lifesciences 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 a consideration of Rs 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 Rs 20 crore, marking a comprehensive restructuring move aligned with its future strategy.

This transaction forms a part of the company’s long-term strategy to streamline its 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, fund future corporate and growth initiatives.

Nectar Lifesciences has developed fully integrated sustainable production systems to manufacture high quality Cephalosporin intermediates, - Active Pharmaceuticals ingredients (APIs) and Finished Dosage Formulations (FDF or Formulations) to meet the diverse requirements of its customer base in India and over many countries worldwide.