Julphar Ethiopia Pharmaceutical Industry as an expansion of its factory is going to start Africa’s first insulin factory.

Julphar which was inaugurated in February 2013 is owned by the UAE based Julphar Gulf Pharmaceutical Industries and a local firm Med-tech Ethiopia and was established with a capital of 170 Million Birr. Med-tech owns 45 percent of the total shares while Julphar takes the rest 55 percent.

Country Director of the UAE based company, Mukemil Abdella, said “We are hoping that the land for construction will be handed over to us in the next two weeks”.

However, he did not reveal the capacity of the plant and just said his company intends to make Ethiopia the insulin hub of Africa.

According to Fortune the factory is going to be constructed on an 11,051 square meters plot of land. The new paper added the factory is going to be worth One Billion Birr and it is expected to begin production in two years by the beginning of 2015.

Julphar Ethiopia has a capacity of producing 25 million bottles of suspensions and syrups, 500 million tablets and 170 million capsules annually.

Source: Fortune