Kilitch Drugs (India) Limited's Subsidiary Won Tender Issued by the Ethiopian Pharmaceutical Supply Service of the Federal Democratic Republic of Ethiopia
Feb 27, 2024
PNN
Mumbai (Maharashtra) [India], February 27: Kilitch Drugs (India) Limited, (BSE CODE:524500, NSE CODE: KILITCH), a multi-national pharmaceutical company based in Mumbai, has announced that its subsidiary, Kilitch Estro Biotech PLC, has secured a significant tender issued by the Ethiopian Pharmaceutical Supply Service of the Federal Democratic Republic of Ethiopia having value of approx. USD 9.13 million. This tender win marks a notable achievement for the company not only because of this tender but also it will definitely repeat as the Ethiopian Pharmaceutical Supply Service has planned to purchase injectable from local manufacturers.
The contract awarded to Kilitch Estro Biotech PLC entails the supply of pharmaceuticals with an order size amounting to USD 9.13 million. The contract is executable within a timeline of six months from the receipt of the order, highlighting the efficiency and capability of Kilitch Drugs (India) Limited's subsidiary in fulfilling such large-scale contracts.
This accomplishment further solidifies Kilitch Drug's position in the pharmaceutical industry, showcasing its ability to secure substantial contracts and expand its presence in international markets.
Commenting on the receipt of the order Mukund Mehta, Managing Director of Kilitch Drugs (India) Limited said, "It is a significant achievement for the company. Securing an order from a government entity in Ethiopia represents a milestone moment, opening doors for Kilitch Drugs to engage in government contracts, which speaks volumes about the quality and reliability of our products and supply chain. We anticipate recurring orders from The Federal Democratic Republic of Ethiopia.
Receipt of this order strengthens Kilitch Drug's presence in Ethiopia and positioning the company to capture a larger share of the Ethiopian market."
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