Jan. 26 (Bloomberg) -- Quality Chemicals Industries Ltd., the Uganda drug maker partly owned by India’s Cipla Ltd., said it secured $50 million to fund expansion, which will boost its daily capacity to 24 million tablets.
The funding will enable it to raise daily production by an additional 18 million tablets from 6 million tablets, the Kampala-based company said in an advertisement published in the New Vision newspaper today.
The company sourced funding after it got the World Health Organization prequalification and it is targeting the East African region and beyond, it said.
Quality Chemicals, which produces generic HIV/AIDS and malaria drugs, opened its plant in Uganda in October 2007.
--Editors: Ana Monteiro, Alastair Reed
To contact the reporter on this story: Fred Ojambo in Kampala at firstname.lastname@example.org
To contact the editor responsible for this story: Paul Richardson at pmrichardsonbloomberg.net