Business

Three pharmaceutical manufacturing companies to be established

With the expectation of increasing the manufacturing capacity in the country to 80%, a 64-acre land that was owned by the Urban Development Authority (UDA) from Millewa, would be leased under 99 years, to the State Pharmaceutical Manufacturing Corporation (SPMC) in order to establish three pharmaceutical manufacturing companies.

Accordingly, a Memorandum of Understanding (MoU) was signed between SPMC, represented by SPMC Chairman Dr. Uthpala Indrawansa and SPMC Director Shammi Kumari Denawatta, and UDA, represented by UDA Chairman Gen. (Retd.) Udaya Nanayakkara and UDA Director General and Chartered City Architect Prasad Ranaweera, on Wednesday (12) at the UDA premises. 

Apart from increasing the manufacturing capacity, this venture expects to enter the international pharmaceutical market, save capital in importing medicine, as well as provide patients with standardised medicine. 

Minister of Health Keheliya Rambukwella, State Minister for Production, Supply, and Regulation of Pharmaceuticals Prof. Channa Jayasumana, and other authority officials were among the participants.