Nectar Lifesciences (NecLife), a manufacturer of generic pharmaceutical active  pharmaceutical ingredients (APIs) and formulation products, has received ANVISA cGMP (current Good Manufacturing Practices) approval for Brazil for its Cephalosporin APIs manufacturing facility in Dera Bassi, Punjab.  The regulatory authority concluded that the facility, systems and practices comply with ANVISA cGMP requirements.

The facility is already approved by various international regulatory agencies such as USFDA, MCC-South Africa, PMDA- Japan, OGYI-Hungry and KFDA- South Korea. "This approval opens up very valuable market for NecLife for APIs as well as formulations for which unit-6 located in Baddi is already approved by the ANVISA authority," the company said.

Shares of the company gained Rs 0.2, or 0.63%, to settle  at  Rs 31.85.  The total volume of shares traded  was  36,633 at  the BSE (Thursday).