Kilitch Drugs India Limited has purchased 15 Acres land parcel in Village: Maldev, Taluka: Pen, on Pen – Khopoli Highway, Maharashtra as beginning of its expansion plan.
The land bought by the company will be used for establishing a state-of-the-art greenfield pharma complex. The company plans to set up 4-6 manufacturing units in different therapeutics categories to cater to the growing demands in Domestic and Exports markets. The expansion will be in a similar line of Injectables and other Biotech products. The project envisaged is futuristic and shall have maximum recognition of the world’s leading regulatory authorities.
Commenting on this Mr. 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 will be in tune of approx. Rs. 100 Crore. We are planning to fund the capex mostly through internal accruals and it will be in a phased manner. We are looking for a horizon of 2 years to commence commercial production of Phase I. Once the total expansion is complete it will generate Revenue opportunity of approx. Rs. 500 Crore ”