Kilitch Drugs (India) Ltd Company Summary

Kilitch Drugs (India) Ltd Summary

Kilitch Drugs (India) Limited (KDIL) was incorporated in May, 1992 as a public limited company. The Company is a pharmaceutical company engaged in development, manufacturing and marketing of quality finished dosages. The Company is one of the most reliable manufacturer of injectables in India and one of the largest manufacturer of cephalosporins in Africa having its manufacturing unit located in India and Ethiopia. Its services range from manufacturing to marketing a host of formulations in all dosage forms i.e. solid, liquid and parenteral forms of creating safe pharmaceutical solutions.The Company went public in Feb.94 to set up a pharmaceutical formulation plant at Thane to manufacture pharmaceutical products in the form of tablets, capsules,liquid orals, ointments, creams and injectables. Even before the plant was commissioned, the company came out with a rights issue in Oct.95 to expand the injectible capacity. Commercial production at the plant at Thane commenced in 1996. The company has two divisions - O T C and ethical.A Pharmaceutical formulation plant at Sanaa Republic of Yemen was set up at a cost of Rs 15 crore by entering into an agreement with Al-Fath Trading Corporation.It also entered into an agreement with a Miami company for the export of their medicine to West Indies, south and central America.The company entered into a contract with one of the leading company in the Republic of Yemen which it had set up at a cost of Rs 2.5-cr tanning unit, which was implemented in the year 1995-96. The company had set up a bulk drug unit at Patalganga, Maharashtra for producing raw materials for formulations. The company exports to Sudan, Yemen, middle-east, Miami and certain south American companies. KDIL started marketing a range of injectables from the factory on ethical basis. The company also introduced a new product clue-plus, Bon-Bon Gripe Water and Kilitch Balm.The Company launched a new product BENIN in the market in 2011. During the year 2011-12, the Company sold its business located at Paonta Sahib, Himachal Pradesh as a going concern on a slump sale basis along with transfer of services set forth in the Business Transfer Agreement (BTA). The undertaking was sold and transferred on 28th February 2012 after getting all the necessary clearances as indicated in the BTA. It retained its Name, Trademark (Kilitch) and all other properties and assets at Mumbai. It transferred certain products by entering into a Product Transfer Agreement (PTA) with Akorn India Pvt. Ltd. (AIPL) by which the right to manufacture certain products by the Company at Mumbai were sold to AIPL.