Kilitch Drugs to divest Ethiopian arm for $14 million
Kilitch Drugs (India) announced the divestment of its Ethiopian subsidiary, Kilitch Estro Biotech PLC, to HarmeeCare Pharmaceuticals for $14 million. This move aims to reallocate capital towards higher-growth opportunities in India, including debt repayment and expanding its core pharmaceutical business. The transaction is expected to enhance Kilitch's operational focus in the domestic market.