Opportunity Sri Lanka | » Morison starts production at modern pharmaceutical manufacturing facility in Sri Lanka
Morison starts production at modern pharmaceutical manufacturing facility in Sri Lanka

Morison starts production at modern pharmaceutical manufacturing facility in Sri Lanka

Daily FT: Morison Ltd., one of the pioneers of pharmaceutical manufacturing in Sri Lanka since 1959, has announced the commencement of commercial production at its state-of the-art WHO GMP and EU GMP compliant production facility in Pitipana, Homagama.
Unveiled in late 2020 as Sri Lanka’s first and largest general oral solid and liquid dosage pharmaceutical manufacturing facility, the factory marked the launch of commercial production by manufacturing and releasing its first commercial batches of Chlorphenamine Oral Solution and Paracetamol 500mg tablets to the market on the 26 May.
Marking a new era in the pharmaceutical manufacturing industry in Sri Lanka, with a commitment to increase access to high quality yet affordable medicines, Morison’s investment of Rs. 4 billion in its new state-of-the-art pharmaceutical research and manufacturing facility, is the highest investment to date in the local pharma manufacturing industry.
The facility, the first general oral solid and liquid dosage manufacturing plant in Sri Lanka, built as per European Union-Good Manufacturing Practice (EU-GMP) specifications and Quality Management Systems, has a capacity to manufacture over five billion tablets and two million litres of liquid during two shifts, which can cater up to 40% of the national demand.
Morison Managing Director Dinesh Athapaththu said: “With the launch of commercial production at our new facility, Morison continues its 60-year long mission to offer the highest quality products at affordable prices to Sri Lankans. We are humbled at being able to fulfil the medicinal needs of our people with locally manufactured essential drugs at a time of crisis for the nation.”
The Company released the first batches of medicine produced at the new facility, with the seal of approval of the National Medicines Regulatory Authority (NMRA), marking a new era for local pharmaceuticals manufacture.
“In this journey, we envision to build a high-quality pharmaceutical brand manufactured in Sri Lanka, and act on our purpose of ‘Making Premium Healthcare Affordable’. We aspire to drive this within a six-pillar framework of being; Truly Sri Lankan, with Global Quality, at a Local Price, introducing Novel Therapies, maintaining Ethical Standards, and safeguarding Credibility. In this endeavour we undertake the responsibility of building a set of high calibre professionals to take Sri Lanka’s pharma manufacturing industry forward,” Athpaththu added.
Living up to its purpose, Morison recently launched the first locally manufactured SGLT-2, a new generation Diabetes molecule – Empagliflozin at a cost that is approximately 50% lesser than the prevailing market prices. According to the company, it is also working on a new product pipeline which will include some of the latest therapies predominantly in diabetic, cardiovascular and vitamin segments.
Further, leveraging the long-lasting relationships of the Hemas Group, Morison has signed up for contract manufacturing arrangements with a few leading regional pharmaceutical companies, which will be operationalised during the year. Morison is hopeful that it can make a step change in the pharma manufacturing industry in Sri Lanka.

OSL take:

Sri Lanka’s health sector is an emerging business/investment opportunity with the country focusing on developing and uplifting the sector while also looking at increasing the capacity to locally manufacture pharmaceuticals. The growing opportunities in the country’s health industry have been further boosted by the incentives provided by the local authorities. Sri Lanka’s geographical positioning in the Indian Ocean and the many trade agreements as well as concessions enjoyed by the country makes investments in the local health industry a lucrative business venture. Apart from manufacturing to meet the demand in the local health sector, foreign businesses could look at setting up base in Sri Lanka to engage with other countries in the region.

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Article Code : VBS/AT/09062022/Z_6

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