Kilitch Drugs arm buys land for set up plant in Ethiopia

Updated - January 16, 2018 at 03:51 PM.

Kilitch Drugs (India) on Monday informed the exchanges that its unit Kilitch Estro Biotech Plc has acquired land for setting up a pharma plant in Ethiopia. The Bureau of Rural Land and Environmental Protection, Federal Democratic Republic of Ethiopia, has allotted 4,317.5 square metres of land on lease for a period of 45 years. The land is located near the highway with three-phase electricity passing through it. Kilitch undertakes contract manufacturing for over 20 pharmaceutical companies, including Sandoz India, Zydus Cadila and Nicholas Piramal India, among others. Shares of Kilitch Drugs gained 20 per cent at ₹40.40 on the NSE.

Published on September 26, 2016 15:36