SECTOR
Kilitch Drugs (India) gets nod to divest entire stake in Ethiopian subsidiary
Oct-23-2026

Kilitch Drugs (India) has received approval from Board of Directors for strategic divestment of its entire shareholding in its Ethiopian subsidiary, Kilitch Estro Biotech PLC (KEB), to HarmeeCare Pharmaceuticals, an Ethiopian state-owned enterprise, in a transaction valued at $14 million.

The proposed transaction forms part of Kilitch Drugs’ broader strategy to optimise its business portfolio, strengthen financial flexibility and accelerate investments in its pharmaceutical manufacturing operations in India. The divestment will enable capital reallocation towards higher-growth opportunities in India, debt repayment and expansion of core pharmaceutical business. The company intends to utilise the net proceeds towards reducing existing borrowings, lowering finance costs and supporting the phased expansion of its new manufacturing facility at Pen, Maharashtra.

Kilitch Drugs (India) is an India-based company engaged in pharmaceutical business. Its services range from manufacturing to marketing a host of formulations in all dosage forms, such as solid, liquid and parenteral forms.

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