The State Pharmaceuticals Corporation of Sri Lanka is to venture into an ambitious project to locally produce 90% of medicines required by Sri Lankans in the next two years. This move is expected to save the SPC around Rs. 40 Billion annually.
The Health Ministry had already inked agreements with 46 local and international Pharmaceutical Companies to construct new factories, with the first three expected to be built in Horana, Kandy, and Digana. Another three factories are to be opened in the first quarter of the next year.
A modern factory for the production of pharmaceuticals was declared open by President Maithripala Sirisena last evening (October 12). The building was constructed at cost of 1240 million Japanese Yen.