Shares of Nectar Lifesciences Ltd continued their downward trajectory, hitting the 5% lower circuit on Tuesday, extending their losses to 10% over the past two days. The decline comes after the company disclosed receiving seven regulatory observations, including four critical ones, following an inspection of its active pharmaceutical ingredient (API) manufacturing facility in Punjab.
The inspection, conducted jointly by the European Directorate for the Quality of Medicines & HealthCare (EDQM) and the Spanish Agency of Medicines and Medical Devices (AEMPS), evaluated the facility’s compliance with European Good Manufacturing Practices (EuGMP). The regulators flagged multiple compliance issues, raising concerns over the company’s ability to maintain uninterrupted supply to European markets.
The stock has been under pressure as investors react to the regulatory findings, with uncertainty looming over potential corrective measures and their financial implications.
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