Mar 12 , 2022
Glocare Pharma Manufacturing Plc, an India-based pharmaceutical producer, has inaugurated a plant erected in Kilinto Industrial Park at a cost of five million dollars. Located in the outskirts of Addis Abeba, the plant has the capacity to produce 600 million tablets annually. The plant is able to produce 36 kinds of medicines. The majority of its products (80pc) are earmarked for the local market while the remainder is to be shipped abroad. Officials hope it will play a role in reducing foreign currency expenditures on medicine imports. The country spends an estimated one billion dollars a year to ship medicine in from abroad. The import bill is also subject to year-on-year growth of as much as 25pc. Domestic pharmaceutical manufacturers remain unable to meet more than 10pc of demand. Around a dozen pharmaceutical companies, half of whom are locally registered, operate in Kilinto Industrial Park.
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