BusinessPhoto: Hindu BusinessKilitch Drugs to Sell Ethiopian Unit for $14 Million
Kilitch Drugs (India) will sell its entire stake in Ethiopian subsidiary Kilitch Estro Biotech PLC to HarmeeCare Pharmaceuticals, a state-owned Ethiopian firm, for $14 million. The divestment aims to reallocate capital towards growth opportunities in India, repay debt, and expand its pharmaceutical business. Proceeds will reduce borrowings and support a new manufacturing facility in Pen, Maharashtra, producing injectable vials and eye drops.
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