Pharmaceutical company Nectar Lifesciences (NSE:NECLIFE, BOM:532649) has agreed to sell its core business division--comprising the manufacture, distribution, and marketing of active pharmaceutical ingredients (APIs) and formulations--to Ceph Lifesciences for 12.70 billion Indian rupees, according to a Tuesday filing to the Indian bourses.
The company has also agreed to sell its menthol business assets to Ceph Lifesciences for 200 million rupees.
The transactions are expected to be completed by Sept. 25.
The move is part of the company's long-term strategy to streamline its operations and strengthen its financial position.
The company plans to use the proceeds from the sale to repay existing debt, invest in new and emerging business, reward shareholders, and to fund future corporate and growth initiatives.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。