23-Oct-2026 15:16:18
KILITCHAcquisition and merger
KILITCH : DIVESTING ETHIOPIAN SUBSIDIARY FOR $14 MN
• Board-approved divestment of entire shareholding in Ethiopian subsidiary Kilitch Estro Biotech PLC (KEB) • Buyer is HarmeeCare Pharmaceuticals, an Ethiopian state-owned enterprise; transaction valued at US$14 million • Net proceeds to reduce borrowings, lower finance costs and support phased expansion of new Pen, Maharashtra facility • Pen facility to make liquid injectable vials, lyophilised injectable vials, ophthalmic eye drops and develop GLP-1 therapies • Company proposes long-term supply and technical services agreement with HarmeeCare to maintain commercial presence in Ethiopia • Completion expected by January 31, 2027, subject to shareholder approval and regulatory requirements
Kilitch Drugs India Ltd
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