June 28, 2017 (LBO) - Celogen Lanka (Pvt) Ltd has opened a new pharmaceuticals manufacturing plant with an investment value of 6.6 million dollars at the BOI Kandy Industrial Park at Pallekelle.
The manufacturing facility, a joint venture between Sri Lankan and India, was formally opened by President Maithripala Sirisena, the Board of Investment said issuing a statement.
The plant will be producing a wide range of tablets including Metformin, Losartan potassium and Atorvastatin, capsules such as Omeprazole and Soft Gel Vitamin A, E and A and D.
Currently Sri Lanka imports approximately one billion dollars worth of pharmaceutical products and is almost entirely dependent on imports.
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The Government target is to reduce imports of pharmaceuticals by 70 percent by 2020, the statement added.
"The manufacture of pharmaceuticals is a target sector of the Government of Sri Lanka for import substitution and is also a thrust sector of the BOI and is actively promoted by the Board."
Celogen Lanka opens USD6.6Mn pharmaceutical plant in Pallekelle
