A Memorandum of Understanding (MoU) for the establishment of three new pharmaceutical factories was signed on Wednesday (12) by the State Pharmaceuticals Manufacturing Corporation (SPMC) and the Urban Development Authority (UDA), at the UDA.
Under the programme, local pharmaceutical production is expected to reach its highest level within the next five years.
The agreement was signed by SPMC Chairman Dr. Uthpala Indrawansa and UDA Chairman Major General (Rtd) Udaya Nanayakkara.
Health Minister Keheliya Rambukwella, State Minister of Production, Supply and Distribution of Pharmaceuticals Prof. Channa Jayasumana and several others were present at the signing.
The site of these factories is a 65-acre land in the Millewa area in Horana, on a long-term lease from the UDA.
These factories are designed to manufacture anti-cancer drugs, orthopedic devices and drugs and conventional pill capsules.
These factories will be able to meet 10 to 12 percent of the total demand for pharmaceuticals and medical equipment in the country.
Orthopedic devices currently being imported from countries such as Germany and Switzerland at a cost of billions of rupees are to be manufactured at these factories.
The opening of these pharmaceutical factories can save a lot of foreign exchange. The new factories will be built in accordance with European standards, subject to international standardization.