Kilitch Drugs agrees to $14 million sale of Ethiopian division

NEW DELHI PSqure Daily Correspondent

Pharmaceutical company Kilitch Drugs is selling its Ethiopian business division in a transaction valued at $14 million.

The strategic sale is designed to free up capital, allowing the firm to redirect financial resources toward expanding its core pharmaceutical operations. A portion of the proceeds generated from the transaction will also be utilized to pay down existing corporate debt.

Furthermore, the divestment facilitates a shift in the company's geographical focus. The newly available funds will be reallocated to pursue higher-growth opportunities within the Indian market.

Read the full report with related stories: https://psqure.com/story/26d23ab8-f8e4-417b-9f58-22979acc41a4

Covered by

• The Hindu Business

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