By: IPP Bureau
Last updated : March 06, 2022 12:34 pm
The company plans to establish a state-of-the-art greenfield pharma facility with a total of 4-6 manufacturing units in different therapeutics categories to cater to domestic and export markets
Kilitch Drugs, an MSME multinational manufacturer of injectables in India and Ethiopia has chalked out its expansion plan by purchasing 15 acres of land on the Pen-Khopoli highway in Maharashtra.
The company plans to establish a state-of-the-art greenfield pharma facility with a total of 4-6 manufacturing units in different therapeutics categories to cater to domestic and export markets. The expansion will be for injectables and other biotech products.
Commenting on the development, Mukund Mehta, Chairman & Managing Director of Kilitch Drugs said, "We are on a growth trajectory and demand for our products is increasing. This expansion will help us to fuel our growth plan. This will be an ultra-modern facility and the Capex requirement for this facility is to the tune of Rs 100 crore.”
He further added, “We are planning to fund the Capex mostly through internal accruals and it will be in a phased manner. We are looking at a horizon of two years to commence commercial production of Phase I. Once the total expansion is complete it will generate a revenue opportunity of approx. Rs. 500 crore."