Nectar Lifesciences Ltd updates on regulatory inspection and Business Status

Nectar Lifesciences Limited has announced updates on EU regulatory inspection and Business Status after the inspection of our manufacturing facility by the European Directorate for the Quality of Medicines.

The management is fully aware of the seriousness of the situation and is taking all necessary steps to ensure that we are back on track. As part of our growth strategy, we consider all geographies, including the EU, as key markets. We would like to reaffirm our commitment to undertaking the required remediation on an urgent basis to maintain business continuity in the EU. The European market contributes 2.7% to our total API sales.

The observations from the inspection are being addressed through a structured Corrective Action and Preventive Action (CAPA) plan, reflecting our unwavering commitment to compliance and quality assurance. We continue to engage proactively with regulatory authorities and will provide further updates as required. Our focus remains on upholding high standards and ensuring sustainable growth.

Shares of Nectar Lifesciences Limited was last trading in BSE at Rs. 23.82 as compared to the previous close of Rs. 25.07. The total number of shares traded during the day was 44235 in over 116 trades.

The stock hit an intraday high of Rs. 23.82 and intraday low of 23.82. The net turnover during the day was Rs. 1053677.00.

Source : Equity Bulls

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NectarLifesciences INE023H01027 Updates EURegulatoryInspection BusinessStatus