 "Kilitch Drugs forms JV in Ethiopia")
The Mumbai-based Kilitch Drugs India Ltd has formed a joint venture with an Ethiopian firm as part of its plan to set up a manufacturing facility in that country. While Kilitch Drugs will hold 97 percent in the JV, remaining stake will rest with the Ethiopian firm.
“The company has formed a joint venture in the Republic of Ethiopia with a local party therein to set up a pharmaceutical/nutraceutical manufacturing unit,” said Kilitch Drugs India Ltd in a BSE filing on October 19, 2015.
This will be Kilitch Drugs’ first manufacturing facility outside India. At present, the company exports pharmaceutical products to African countries, including Ethiopia, from its manufacturing facility in Navi Mumbai, which has been certified by various drug regulators from Africa.
“The company has formed a joint venture in the Republic of Ethiopia with a local party therein to set up a pharmaceutical/nutraceutical manufacturing unit,” said Kilitch Drugs India Ltd in a BSE filing on October 19, 2015.
This will be Kilitch Drugs’ first manufacturing facility outside India. At present, the company exports pharmaceutical products to African countries, including Ethiopia, from its manufacturing facility in Navi Mumbai, which has been certified by various drug regulators from Africa.