SLPMA invests Rs. 15 b to boost manufacturing industry | Sunday Observer

SLPMA invests Rs. 15 b to boost manufacturing industry

30 August, 2020

The Sri Lanka Pharmaceutical Manufacturers’ Association (SLPMA) hailed the government’s decision to create a new State Ministry for the manufacture of pharmaceuticals as a timely move to strengthen the local pharmaceuticals industry, stressing its contribution to the nation. 

“This highlights the importance the State places on a self-sufficient local pharmaceutical manufacturing industry,” SLPMA President Sanjaya Jayaratne stated in a media release.  

While Health Minister Pavithra Wanniarachchi is responsible for the entire health sector, Prof. Channa Jayasumana holds the portfolio of State Ministry for Pharmaceutical Production, Supply and Regulation. 

Expressing SLPMA’s confidence in the government’s vision, Jayaratne said, “This is an encouragement to the industry. The association will work to strengthen ties with the government and expand our contribution to the national healthcare sector by expanding the guaranteed buy-back agreement for local pharmaceuticals currently in effect. The SLPMA has always stood for quality, affordable pharmaceuticals and will support the government to secure the highest quality medicines at affordable prices.”

Members of the SLPMA have reinvested over Rs. 15 billion over the past five years on capacity building and market expansion, setting up new plants and upgrading current facilities to enhance the manufacture of a wider range of medicines and infrastructure for the Sri Lankan market and for export.

Currently holding 15% of the local pharmaceuticals market, the SLPMA aims to help the country by increasing the production of world-class pharmaceuticals locally to provide quality cost-effective medicines to all Sri Lankans. 

The vision of the Association is to promote the efficiency of the pharmaceutical manufacturing industry to ensure medicinal products of the highest quality are readily available for the prevention and treatment of diseases at affordable prices.