source: www.afsuter.com
The Government of Sri Lanka is initiating a massive change in the field of pharmaceutical manufacturing industry. According to the reports, it was revealed that the Government is presently working on importing substitution through the establishment of a local pharmaceutical production zone that could fulfil 60% demand for drugs by 2020. A Government Information Department report also revealed that it was the vision of late Senaka Bibile, a renowned Pharmacologist Professor, who had dreamt to build a local pharmaceutical production zone that could fulfil the demand of the nation.
The President of National Chamber of Pharmaceutical Manufacturers of Sri Lanka (NCPM), Dr. Lohitha Samarawickrema remarked that near about 12% of the market, two billion units were being manufactured locally. State Pharmaceutical Corporation is initiating to increase it to four billion. They are also planning to create a pharmaceutical manufacturing zone in the country just to fulfil the raising supply market share to 60%. The report also read that an investment vehicle of the Sultan of Johor is planning to invest in USD 10 million Pharma Zone (Pvt.) Ltd in order to build the 50-acre pharmaceutical manufacturing zone across Welipanna in the Kalutara District.
Dr. Samarawickrema also remarked that 17 NCMP members have already agreed and signed on the memorandums of understanding (MoU) with State Pharmaceutical Manufacturing Corporation (SPMC) in order to set up factories. In addition, Dr. Sayura Samarasundara, the Chairman of SPMC also remarked that approximately USD 400-500 million is spent on pharmaceutical imports. The huge expenditure could be reduced with the idea of import substitution. The government is initiating for import substitution and utilize that money for further development of the nation.
