Nectar Lifesciences hits lower circuit on receiving 7 observations for API manufacturing facility
Nectar Lifesciences is locked at its lower circuit limit of Rs. 26.38, down by 1.38 points or 4.97% from its previous closing of Rs. 27.76 on the BSE.
The scrip opened at Rs. 26.38 and has touched a high and low of Rs. 26.38 and Rs. 26.38 respectively. So far 27498 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 56.39 on 11-Sep-2024 and a 52 week low of Rs. 24.90 on 04-Mar-2025.
Last one week high and low of the scrip stood at Rs. 29.95 and Rs. 26.27 respectively. The current market cap of the company is Rs. 591.60 crore.
The promoters holding in the company stood at 44.53%, while Institutions and Non-Institutions held 0.75% and 54.72% respectively.
European Directorate for the Quality of Medicines & HealthCare (EDQM) and the Spanish Agency of Medicines and Medical Devices (AEMPS) have concluded joint inspection at Nectar Lifesciences’ API manufacturing facility, located at U-2, Village Saidpura, Tehsil Dera Bassi, District SAS Nagar (Mohali), Punjab. This inspection aimed to assess of compliance with EuGMP standards. Following the inspection, seven observations including four critical, were noted.
The Company is in the process of preparing a Corrective Action and Preventive Action (CAPA) report to address the observations. The Company upholds quality and compliance with utmost importance and remain committed to be compliant with the cGMP quality standards.
The European regulator will conduct a re-inspection of the facility to verify the compliance and CAPA submitted which may lead to EuGMP approval.
Nectar Lifesciences (NLL) is a knowledge driven organization which constitutes a vital part of fast growing Indian Pharmaceutical Industry.
