Kilitch Drugs Forms Joint Venture In Ethiopia To Set Up Manufacturing Unit

by Shirley Johanna on  October 19, 2015 at 5:46 PM Drug News
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Kilitch Drugs India has formed a joint venture in Ethiopia with a local partner to set up a manufacturing plant in the African country.
Kilitch Drugs Forms Joint Venture In Ethiopia To Set Up Manufacturing Unit
Kilitch Drugs Forms Joint Venture In Ethiopia To Set Up Manufacturing Unit

"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," Kilitch Drugs said in a BSE filing.

It, however, did not provide the name of the company with which it has formed the JV.

"The company (Kilitch Drugs India) shall be a partner to the tune of 97 percent and the Ethiopian partner shall hold remaining 3 percent in the said joint venture," it added.

Shares of Kilitch Drugs India were trading a steep 19.97 percent up at Rs 38.15 per scrip during afternoon session on the BSE.

Source: PTI 

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