Date: 16 December 2017
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Celogen Lanka opens US$ 6.6 mn pharmaceutical plant in Pallekelle

Posted on 28 Jun 2017

Celogen Lanka (Pvt) Ltd opened a news plant to manufacture pharmaceuticals, recently at the BOI Kandy Industrial Park at Pallekelle.

The new plant was formally opened by President Maithripala Sirisena, with Rajitha Senaratne - Minister of Health and Indigenous Medicine and Upul Jayasuriya, Chairman of Board of Investment of Sri Lanka.

The manufacturing facility is very significant because it is a joint venture between Sri Lankan and Indian entrepreneurs with an investment value of US$ 6.6 million. It will create employment for 150 workers including 80 university graduates. The Company will be producing a wide range of tablets including Metformin, Losartan potassium and Atorvastatin, capsules such as Omeprazole and Soft Gel Vitamin A, E and A & D.

Currently Sri Lanka imports approximately US$ 1 billion worth of pharmaceutical products and is almost entirely dependent on imports. The Government’s ambitious target is to reduce imports of pharmaceuticals by 70% by 2020.

Hence the manufacture of pharmaceuticals is a targets sector of the government for import substitution. It is also a thrust sector of the BOI and is actively promoted by the Board.