GlaxoSmithKline, a multinational firm will start work at its newly built pharmaceutical production facility in Moratuwa, which will produce Panadol, later this month.
According to the Ministry of Industry and Commerce, the new plant will produce 2.5 billion panadol tablets, annually, at this newly built plant.
“This new source of supply will boost our pharma manufacturing sector and will also help stabilize domestic prices” said, the Minister of Industry and Commerce Rishard Bathiudeen during a meeting with the company officials.
According to the Ministry, currently there are only six pharmaceutical manufactures that are active in Sri Lanka, while the shortfall is met by imported products from more than 300 overseas manufacturers.
During the meeting with the Minister, a top executive of GlaxoSmithKline, T.S. Dayananda has told that the company is also planning to invest a further Rs. 1.4 billion to expand operations in Sri Lanka.
GSK is exploring the possibility of setting up a plant in the upcoming pharmaceutical zone in Kurunagela.
Article Views: 897