Aug 12 , 2023
An Indian-owned pharmaceutical company that supplies 60pc of the world's malaria and tuberculosis medications shows interest in starting manufacturing at Kilinto Industrial Park. Representatives met with, Aklilu Tadesse, CEO of Industrial Parks Development Corporation (IPDC) to discuss possible modalities for entering the Ethiopian market last week. Incorporated in 1986, Calyx Chemicals & Pharmaceuticals Ltd has a global reputation for providing pharmaceutical inputs and supplies to manufacturers. Domestic pharmaceutical manufacturers had faced numerous challenges over the years, with the shortage of foreign currency being the most conspicuous, driving several companies out of the market. Officials hope that the company's involvement in Ethiopia's pharmaceutical sector will play a role in decreasing foreign exchange expenditures on pharmaceutical imports. The Kilinto Park, which was launched in 2018, was constructed for 5.5 billion Br on 279hct of land. It has a power supply substitution system, and zero liquid discharge water and chemical treatment facilities. Last year, Glocare Pharma Manufacturing Plc, another India-based pharmaceutical producer, started producing at the park. Foreign investment was heavy in the industry, accounting for as much as 40pc of total pharmaceutical investments in 2019; the number has dropped prominently since then.
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