Nectar Lifesciences Completes Slump Sale of API and Formulations Business; Shares Slip 3%

MT Newswires Live

Nov 12

Nectar Lifesciences (NSE:NECLIFE, BOM:532649) has completed the slump sale of its active pharmaceutical ingredients (API) and formulations business to Ceph Lifesciences, effective Nov. 10, according to a Tuesday filing.

Shares of the company were down over 3% at market close on Wednesday.

The transfer was executed as per the terms of the Business Transfer Agreement and Asset Purchase Agreement, both signed on July 7, and all completion deliverables under the agreements have been fulfilled, the company said in the filing.

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