Kilitch Drugs to operate from Africa plant in October

Kilitch Drugs (India) Ltd., one of the leading Indian pharmaceutical exporter, is all set to enhance its expansion plans in Africa with its first manufacturing plant which is about to complete in Addis Ababa, the capital city of Ethiopia.

The company said that the manufacturing of this unit is about to complete and machinery installation is already started. Along with that company is planning for validations and trial runs from October onwards. After successful completion of validation and trial runs, inspection from the Ethiopian Food, Medicine and Health Care Administration and Control Authority (FMHACA) will be triggered.

Kilitch Drugs has a product registration in over 25 countries in Asia, Latin America, Middle East, Europe and Africa with portfolio consisting of about 300 formulations. The company is currently providing pharmaceutical solutions with more than 200 registered products and above 250 under registered. With current expansion, the Kilitch Drugs is expecting to generate revenue of Rs. 500 crores in next 5 years as it is bullish on the African markets.

On Friday, the stock of Kilitch Drugs (India) Ltd. opened at Rs.107.60 per share and made an intraday high and low of Rs. 112.00 and Rs. 103.20, respectively on the BSE. At 03.25 pm, the stock was trading at Rs. 103.15, down by 4.76 per cent.