Nika Pharmaceuticals, Inc. (Nika) Acquires a Two Million USD Production Building
Nika Pharmaceuticals, Inc. (OTCMKTS: NIKA) has acquired a production building and land valued at $2,045,209 in Sofia Province, Bulgaria. The company now owns Nika Europe, , which includes the production building and land. The building has a 18,669 square feet area with manufacturing halls, an office section, and various facilities. NIKA plans to construct laboratories and a manufacturing facility for injection drugs, complying with strict GMP standards. The company signed a Supply Agreement for a vial production line with a maximum capacity of 18,000 vials/h, expected to be operational by January 2025. CEO Dimitar Savov emphasizes the importance of having its own production to meet demand and generate profits for shareholders.
Acquisition of a production building and land valued at $2,045,209 in Sofia Province, Bulgaria.
Ownership of Nika Europe, , including the production building and land.
Plans to construct laboratories and a manufacturing facility for injection drugs.
Signing of a Supply Agreement for a vial production line with a maximum capacity of 18,000 vials/h.
Expected operational production equipment by January 2025.
Dependency on successful construction and operation of the new manufacturing facility.
Risks associated with production delays or quality control issues.
HENDERSON, Nev., May 10, 2024 (GLOBE NEWSWIRE) -- Nika Pharmaceuticals, Inc. (OTCMKTS: NIKA) announces that it is the beneficial owner of a production building and land valued at
On May 9, 2024, NIKA acquired Nika Pharmaceuticals, Ltd.; as a result, the company became
The large building area will allow NIKA to construct scientific, microbiological and chemical laboratories in addition to the planned manufacturing facility for its drugs in injection form. The manufacturing facility will be constructed via antibacterial wall panels and homogenic PVC flooring, accompanied by a specialized ventilation system to ensure sterile production environment according to the strict GMP standards. With the architectural layout of the facility complete, Nika Europe is currently working with experts to finish the technical projects for the ventilation and injection water systems in order to begin construction.
On April 23, Nika Europe signed a Supply Agreement with an established manufacturer for the production, supply, and installation of a complete vial production line consisting of washing, sterilization, filling, stoppering, capping, light inspection, and labelling machines. The line will be tailored to the production specifications of NIKA’s drugs in injection form and will have a maximum production capacity of 18,000 vials/h, i.e. a maximum yearly capacity of 3,500,000 sets of ITV-1 or TNG. With the down payment of 191,534$ paid by Savov, the production equipment is expected to be produced, delivered, and installed according to GMP by the end of 2024, allowing NIKA to begin production in January 2025.
“The most important component to sustainable growth is for a company to have its own production in order to reliably satisfy demand,” stated Dimitar Savov, CEO of Nika Pharmaceuticals, Inc. “For this reason, I have purchased and provided NIKA with this asset, which not only has a tangible value of its own, but will also generate the company significant profits to the benefit of its shareholders. We intend to soon publish a business strategy overview where we will discuss market demand, distribution plans, and expected profits,” continued Savov.
Find more via NIKA’s disclosures on www.sec.gov or https://www.otcmarkets.com/stock/NIKA.
About Nika Pharmaceuticals, Inc.
Nika Pharmaceuticals, Inc. (NIKA) is a pharmaceutical company, specializing in the treatment of HIV/AIDS, Hepatitis B and C, Rheumatoid Arthritis, Cancer, Diabetes, and all diseases, for which strengthened cell immunity is of vital importance. NIKA's intellectual property includes six drugs in injection form – two of which have successfully undergone clinical trials with good treatment results – three drugs in tablet form, and nine dietary supplements. NIKA’s goal is to not only achieve corporate profits, but to provide better and easier access to life-saving medicinal drugs and useful dietary supplements. Find more on www.nikapharmaceuticals.com.
Forward-looking Statement:
This press release contains forward-looking statements. Certain statements, other than purely historical information, including estimates, projections, statements relating to our business plans, objectives, and expected operating results, and the assumptions upon which those statements are based, are “forward- looking statements.” These forward-looking statements generally are identified by the words “believes,” “expects,” “anticipates,” “intends,” “strategy,” “plan,” “may,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from the forward-looking statements. Our ability to predict results or the actual effect of future plans or strategies is inherently uncertain.
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