Colombo, Oct. 19 (Daily Mirror) - Sri Lanka’s first insulin manufacturing plant is expected to begin production in 2027, following the completion of construction and the necessary validation processes, Health and Mass Media Minister Dr. Nalinda Jayatissa said.
The facility, established by Premium International Injectable (Pvt) Ltd. at the Koggala Export Processing Zone in Galle, represents an investment of more than Rs. 3 billion.
The Minister made these remarks during a visit to the facility on October 17, noting that the project marked a significant step towards reducing the country’s dependence on imported medicines and strengthening domestic pharmaceutical manufacturing.
The company plans to initially manufacture insulin before expanding production to include anaesthetics, painkillers and other pharmaceuticals, with a target of producing 33 different types of medicines.
Sri Lanka currently imports most of its insulin requirements from four companies in India. The Minister said local production would help ensure a continuous supply of insulin while strengthening the country’s capacity to monitor product quality.
The project is being implemented as a joint venture with the State Pharmaceuticals Manufacturing Corporation (SPMC), with a 15-year pharmaceutical supply agreement in place with the corporation.
The company also intends to export its products to international markets, beyond meeting domestic demand.
The Minister said reducing reliance on pharmaceutical imports, expanding local production and increasing export earnings were key objectives for the coming decade.
He noted that around 85% to 90% of the medicines required by Sri Lanka’s hospital system were imported, while domestic production accounted for approximately 10% to 15% of the requirement.
The Government had placed particular emphasis over the past two years on maintaining an uninterrupted supply of medicines following disruptions caused by the COVID-19 pandemic and the economic crisis, he said.
At present, around 96% of the hospital system’s pharmaceutical requirements are being met. However, challenges remain, including the absence of supplier participation in procurement processes for 37 types of medicines, the Minister said.
He added that strengthening domestic pharmaceutical manufacturing would help save foreign exchange spent on imports while generating additional revenue through exports.
The Minister said Sri Lanka’s relatively small land area and population should not be barriers to developing a pharmaceutical industry that meets international standards. The Government would support local manufacturers that comply with the required quality standards and regulatory requirements, he added.
He also revealed that discussions were underway to supply medicines to the Maldives through the SPMC, while requests for medicine supplies had been received from several other countries, including Timor-Leste.
The Minister congratulated all parties involved in establishing the insulin manufacturing facility, describing it as an important development for Sri Lanka’s pharmaceutical manufacturing sector.
The visit was attended by Premium International Injectable General Manager Aseem Kamtham, Managing Director Thushira Radella, Finance Manager Raveen Peiris, Human Resources Manager Nuwan Gamage and Public Relations Officer G.D.P. Gunaratne, along with other company officials.