Kilitch Drugs forms jt venture in Ethiopia

Kilitch Drugs (India) has formed a joint venture in the Republic of Ethiopia with a local party in that country to set up a pharmaceutical/nutraceutical manufacturing unit. Kilitch Drugs (India) will be a 97 per cent partner in the JV, and the Ethiopian partner would hold the remaining 3 per cent. The company did not disclose any other financial details of the JV. Shares of Kilitch Drugs surged 19.87 per cent at ₹38 on the NSE.