Kilitch Drugs to divest Ethiopian subsidiary Kilitch Estro Biotech to HarmeeCare for US$14 million; plans new Pen facility
Kilitch Drugs has proposed to divest its entire shareholding in Ethiopian subsidiary Kilitch Estro Biotech PLC to HarmeeCare Pharmaceuticals, an Ethiopian state-owned enterprise, for US$14 million.
By ScoutQuest · · 1 min read
- Divestment consideration
- US$14 million
- Divested subsidiary
- Kilitch Estro Biotech PLC
- New facility
- Pen, Maharashtra facility for injectable vials, eye drops and GLP-1 therapies
- Release
- Deal / acquisition
_Business-line figures_
🏭 At its new Pen, Maharashtra facility, Kilitch Drugs plans to manufacture liquid injectable vials, lyophilised (freeze-dried) injectable vials and ophthalmic eye drops, and to develop and manufacture GLP-1 therapies, all subject to applicable regulatory approvals.
🏭 The company intends to utilise the net proceeds of the divestment towards reducing existing borrowings, lowering finance costs and supporting the phased expansion of its new manufacturing facility at Pen, Maharashtra.
🏭 Kilitch Drugs proposes to enter into a long-term supply and technical services agreement with HarmeeCare Pharmaceuticals to maintain its commercial presence in Ethiopia; the arrangement is expected to support continued operations of the Ethiopian manufacturing facility and an ongoing commercial relationship in the region.
🏭 Kilitch Drugs intends to pursue EU GMP and PIC/S accreditations as part of its strategy to expand its presence in regulated export markets, subject to applicable regulatory approvals.
Also from Kilitch Drugs India
EGM on 16 Nov 2026 to vote on sale of entire stake in Ethiopian subsidiary, debt conversion, 2 director appointments
23 Oct 2026
Board approves divestment of 100% stake in Ethiopian material subsidiary, conversion of INR 57.00 Crores debt
23 Oct 2026
More numbers
- Transaction value, divestment of Kilitch Estro Biotech PLCUS$14 million
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