Dr. Wilson Endege of Boston, MA is leading the founding of Daktari Biotechnology Ltd. The scientist who worked at Harvard University and the pharmaceutical industry in Cambridge, MA during the Saturday 24th February 2024 Diaspora University Town (DUT) zoom meeting updated on the progress of the company medicines and vaccines plan. He said, “We held a meeting early today and reviewed the design and equipment." Diaspora Kenyans through 10,000 investments of Ksh 200,000 are investing to build and equip the medicine and vaccines production plant that will be built at Diaspora University Town next to Diaspora University.
The investment is done through DUT Credit Ltd. An investor will receive a loan of Ksh 200,000 and pay 4,449 a month, about $32, €29 and £25, for 60 months. Dan Kamau the Diaspora University Town (DUT) project director who is a former Diaspora Kenyan said, ""The investment plan was created based on a company from Bangladesh, Asia that invested $25 million build a pharmaceuticals plant at Athi River, Kenya"
Dr. Endege said that the Athi River plant produces tablets and capsules. He added, "Daktari Biotechnology plant will produce Vaccines and Biologics/Biosimilars that are more expensive and complex to produce. The products will serve an Africa market that is under served."
The Daktari Biotechnology medicine and vaccines production goals; the founders technology; and, the products production plan were also presented.
Prof. David Ogoli showed the building design that is a 3,600 square meter building. He said he is doing the final adjustments with the scientists based on the equipment that will be fitted as the building is constructed.
Taking on the 1.4 billion Africa market, Dr. Endege referred to the success story on U.S pharmaceutical companies based on 350 million market that consumes products of over $500 billion. Some of the U.S companies 2022 revenues were reported as follows: Pfizer of New York, $100 billion; Johnson & Johnson of New Jersey, $94 billion; Merck & Co. of New Jersey, $59 billion; AbbVie of Illinois, $58 billion; Bristol Myers Squibb of New York $46 billion; Eli Lilly of Indianapolis, $28 billion; Gilead Sciences of California $27 billion; AmgenFlag of California, $26 billion; and Moderna of Massachusetts, $19 billion. A total of $457 billion in revenue.
Dr. Endege said Daktari Biotechnology after opening plant goal is to reach a revenue of Ksh 20 billion (about $200 million) by year 5 of operations. The profit from the revenue would be about 30% or Ksh 6 billion. Based on the profit, those taking one investment of Ksh 200,000 (about $2,000) would make a return of Ksh 150,000 (about $1,500) from the Ksh 6 billion (about $60 million). The company shares valuation based on the revenue and profit would be at about $600 million or Ksh 60 billion. A Ksh 200,000 (about $2,000) investment would have a value of Ksh 1.5 million (about $15,000). One can invest in as many investments of the 10,000 provided the investments are available.
The date for investment was set until 31st March 2024.
To Invest https://dktb.co.ke/investors/
