Celogen Lanka (Pvt) Ltd., has set up a plant, to manufacture pharmaceuticals, at the BOI Kandy Industrial Park at Pallekelle.
It was opened by President Maithripala Sirisena. Minister of Health and Indigenous Medicine, Rajitha Senaratne, Chairman, Board of Investment of Sri Lanka (BOI), Upul Jayasuriya and well-wishers were also present.
It is a joint venture between Sri Lankan and Indian entrepreneurs with an investment of US$ 6.6 million. It will create employment opportunities for 150 workers including 80 university graduates.
The Company will produce a wide range of tablets including Metformin, Losartan potassium and Atorvastatin, capsules such as Omeprazole and Soft Gel Vitamin A, E and A and D.
At present, Sri Lanka imports pharmaceutical products worth approximately US$ 1 billion and is almost entirely dependent on imports.
The Government’s ambitious target is to reduce imports of pharmaceuticals by 70% by 2020.
It is also a thrust sector of the BOI and is actively promoted by the Board.