Navesta Pharmaceuticals (Pvt) Limited the first to open a sterile pharmaceutical manufacturing plant in the country, plans to expand its pharmaceutical manufacturing operations in Horana shortly with an investment of Rs. 1.4 billion, to enhance its contribution to the country’s aim of becoming self-sufficient in pharmaceutical products by 2020.
Navesta Pharmaceuticals Chairman Sanjaya Jayaratne said that plans have been drawn up to expand its operations at the current location with new products. The new manufacturing facility will be built on a 35,000 square feet area adjacent to the existing plant.
The company plans to save around US$ 7 million in foreign exchange through the operations of the new facility initially and then increase the quantum of saving with the expansion in the coming years.
Currently the country spends around US$ 800 million annually on pharmaceutical product imports.
The national drug policy formulated by Prof. Senake Bibile in the early 1970s prescribes the importation of around 40 varieties of medicinal drugs. However, Sri Lanka spends colossal amounts of valuable foreign currency each year to import over 4000 brands of medicinal drugs.
Prof. Bibile paid the price for the task he undertook to make essential medicinal drugs affordable, and accessible to all citizens.
The pharmaceutical mafia which is only second to the rest of the mafias across the globe is a huge drain on the country’s foreign exchange . The medicinal drug mafia has spread its tentacles to every nook and cranny of the country.
Minister Senaratne reiterated the commitment of the government which undertook to clean the country from all forms of mafia and went on to say that many pharmaceutical companies have recognized the value of the National Drug Policy of Prof. Bibile.
“We will rid the country from all forms of corruption. The broad day light thieves will be brought to justice soon. The citizens who say nothing is happening will see the change soon,” Dr. Senaratne said.
We will save around US$ 500 million with the expansion of the new facility in Horana and many more similar facilities to be set up in the country soon. Navesta which invested Rs.1.4 billion on the sterile pharmaceutical plant aims to provide a reliable, vertically integrated local supply chain which will provide accessibility of high quality pharmaceuticals to the country.
The 40,000 square foot facility has the capacity to manufacture 50 million vials saving millions in foreign exchange each year.
“With the expansion of the facility we hope to increase production by three fold and contribute to the economy,’ an official of the company said.
The facility houses 13 incubator chambers and two walk in incubators which are Sri Lanka’s first 21 Code of Federal Regulations compliant equipment sets. Navesta Pharmaceuticals is Sri Lanka’s first European Union Good Manufacturing Practices (EU-GMP) and Pharmaceutical Inspection Cooperation Scheme (PICS) compliant facility which will enable the company to export its products to the global market which accepts the accreditations.
Besides, the facility is equipped with the first EU-GMP compliant A and B Grade Microbiology Laboratory capable of carrying out comprehensive advanced in-house testing methodologies. The company will meet the local demand for 12 products in the penicillin category (anti biotic drugs that are part of the Beta Lactam group of medicine) dry powder injectables that were previously imported to the country.
The occasion was graced by President Maithripala Sirisena.