Menase Kifle
24 September 2007
Addis Ababa — Cadila Pharmaceuticals (Ethiopia) PLC (CPEL), an Indian pharmaceutical manufacturing enterprise on Saturday inaugurated its first international project in Ethiopia at Akaki on the eastern outskirts of Addis Ababa.
The 10 million Dollar project is the result of partnership between Cadila which will take administrative share of 57.5 % and Almeta Impex to claim the remaining 42.5%.
The inaugural was attended by Minister of Trade and Industry Girma Biru, Minister of Health Tewodros Adhanom and Special Advisor to the Prime Minister, Bereket Simeon, company representatives, invited guests and the media..
Speaking at a press conference after the inaugural, the industrial conglomerates said they aim to make a remarkable difference in the pharmaceutical market in the country by providing high quality health care products.
Mr I.A.Modi chairman of Cadila said the plant which rests on over a 10,600 sq meter of land will have a manufacturing capacity of 390 million tablets 165 million capsules and 1.44 million liters suspension bottles per annum.
He said plans to diversify the range of products into injections and infusions, including Anti retroviral drugs, which the company hopes would be available to the public at affordable prices, as early as next year.
The Chairman added they will be launching a personal HIV diagnostic kit that will tell if a person is positive or not in 3 minutes.
He further stated that the products would not only be for Ethiopia but that they hope to export them to surrounding countries to earn foreign exchange.
High utilization of assets should be a creed of countries with low income" Modi stressed.
The company will create employment opportunities for over 100 Ethiopians, this year apart from a dozen of Indian technicians who would be hired to operate the machineries.
Girma Birru in his inaugural speech said the joint venture was a milestone in the ongoing relationship between Ethiopia and India.
He thanked and appreciated the Indian company and Almeta Impex for the big step they have taken to improve the supply of quality pharmaceutical supplies to the Ethiopian public and assured them of government's continued assistance.
"The Indian market has found a growing niche in the Ethiopian market. The Ethiopian government needs to be applauded for the creating a positive ambiance to encourage private international sectors to invest in Ethiopia," Said Mr Gurjit Singh, Indian Ambassador to Ethiopia at the inaugural ceremony.
Cadila pharmaceutical has been in the manufacturing business for the past 56 years. Within the past 5 decades it has been developing and manufacturing pharmaceutical products in India and selling and distributing them in India and in over 50 other countries around the world.
Cadila, India's present branded generic products portfolio comprises of more than 1000 product registrations across continents.
Its widespread network of wholly owned subsidiary companies and marketing offices is spread over 87 countries across America ,Africa, Asia, Europe, and the middle east.
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