Nectar Lifescience Ltd Share Price

History of Nectar Lifescience Ltd

Nectar Lifescience Limited was incorporated on June 27, 1995 with the name 'Surya Medicare Limited'. On March 26, 2004, Company changed their name from 'Surya Medicare Limited' to 'Nectar Lifescience Limited'. NECLIFE is an integrated pharmaceutical organization, engaged in manufacturing and delivering high quality pharmaceutical products. It is a global pharmaceutical company specializing in Cephalosporins. Nectar excels in Cephalosporin APIs production with certified facilities meeting global standards. Nectar has two manufacturing units with 13 facilities. The Plant has a total oral and sterile capacity of more than 2000 MT. All its facilities can be converted to multi-purpose plants based on product basket requirement. Company is the world's leading producer of Cefixime Trihydrate, ... Cefuroxime Axetil, Cefpodoxime Proxetil and Sterile APIs. Company's business operations are primarily concentrated on manufacturing and marketing of oral and sterile cephalosporins, phytochemicals and allied products. They manufacture and sell a range of cephalosporins and phytochemicals. They are also engaged in contract manufacturing of API's for pharmaceutical players. The company was established pursuant to a financial collaboration agreement between the Promoters and Punjab State Industrial Development Corporation. In April 1997, the company commenced business with the commercial production of Oral Bulk Drugs at their manufacturing facility located in the B Category zone of Punjab. In March 1998, they started the production of Sterile Bulk Drugs. In the year 1999, they added the formulation facilities by setting up a vial filing section for Crystalline Sterile Bulk Drugs. In the year 2000, the company undertook an expansion by increasing the installed capacity Crystalline Sterile Bulk Drugs from 406 MT to 810 MT. In the year 2001, they also installed one Crystalline section of 65 MT per annum, which commenced production in October 2001. In the year 2002, the company undertook another expansion programme increasing the production capacity for Cephalosporin Sterile. In October 18, 2002, they incorporated Chempharma (Pvt) Ltd as a wholly-owned subsidiary company in Sri Lanka to manufacture API intermediaries. In the year 2003, the company commenced modernization / expansion plan for increasing our presence in the Cephalosporins segment. In April 2003, the company bought back the entire shareholding of PSIDC at a price of Rs 16.47 per share under the One Time Settlement policy announced by Government of Punjab - Industrial Policy, 2003. In the year 2004, the company started production in a portion of the new Cephalosporins plant. During the year 2006-07, the company commissioned a state-of-the-art facility dedicated to the non-antibiotic therapeutic segment in compliance with stringent US-FDA and EDQM guidelines. The company established a state-of-the-art mint derivatives plant, initiating its business activity into the phytochemicals arena. They also up a menthol flakes facilities at SIDCO Industrial Complex, Jammu to add to the requisite business activity with all the locational benefits to the industry in J&K. They commissioned a unit in Derabassi to process menthol into powder and crystal forms The company also established an Empty Hard Gelatin Capsule unit at Baddi, Himachal Pradesh referred to as Unit VII which commenced production with effect from April 2007. In April 2008, they set up a state-of-the-art facility, Unit X at Derabassi, which commissioned on April 17, 2008. During the year 2008-09, the company increased the production capacity of Bulk Drug & Sterile from 425 MT to 650 MT. Also, they increased the production capacity of Phytochemicals - Menthol from 6000 MT to 7600 MT. They launched 30 formulation brands (P2P). Also, they established a fully-owned formulation R&D centre in Derabassi dedicated to non-cephalosporins related developments like oncology, anti-diabetes, cardiovascular system, female healthcare and anti-HIV. During the year 2009-10, the company increased the production capacity of Bulk Drug & Sterile from 650 MT to 1600 MT. Also, they launched the diagnostic division during the year. During FY 2010-11, M/s Nectar Capital Limited was incorporated in Mauritius and M/s Nectar Lifesciences UK Limited, was incorporated in United Kingdom. Nectar Lifesciences US, LLC in United States was also incorporated during year 2014-15, which commenced the business operations of trading in pharmeceutical products. In March 2011, the company received approval from the Japanese MOH for their product, Cefuroxime Axetil. Neclife PT, Unipessoal LDA Portugal was incorporated as a subsidiary of the Company effective on July 11, 2019 to takeover MA from Nectar Lifesciences UK Limited. Nectar launched two new innovative products in EHGC menthol capsules (Nexxicap MintyTM) and pearl capsules (Nexxicap PearlTM) in 2023.