Navesta opens Sri Lanka’s first sterile pharmaceutical manufacturing plant
In September2015 the Board of Investments (BOI) officially granted corporation standards to Navesta Pharmaceuticals, a LKR 1.4 billion EU-compliant pharmaceutical corporation, for the purpose of setting up a manufacturing facility to produce pharmaceutical products for the local market.
Sri Lanka’s first sterile pharmaceutical manufacturing plant which will produce dry powder injectables of Beta Lactam was inaugurated by President Maithripala Sirisena on Wednesday (30) at its 40,000 sq.ft Horana facility.
According to Navesta’s official website, the company “… has rooted itself in Sri Lanka in order to take advantage of the country’s natural resources, the island nation’s strategic location for logistics, and for the country’s historic medical knowledge… Sri Lanka’s extremely fertile and pure eco-system enables Navesta with the best environment for operations. The country’s progressive development strengthens Navesta’s economic outlook, and Sri Lanka’s high concentration of knowledge permits Navesta with the best employees and strategic partners.” (Source: http://navesta.com/locations-facilities/)
The company has already obtained the approvals from the relevant local authorities for the procurement, production and distribution of its products and is compliant with the rules and regulations of the Health Ministry. It has also has obtained relevant permits and approvals required by the Urban Development Authority (UDA), Central Environmental Authority (CEA), National Medicines Regulatory Authority (NMRA), Horana Divisional Council and the Water Resources Board.
OSL TAKE:
The inauguration of this momentous project paves the way for other manufacturers in the pharmaceutical or other sectors to set up such innovative facilities in Sri Lanka.
Since the country has the necessary technical manpower to contribute to such endeavours it will benefit potential investors.
| Article Code : | VBS/AT/01092017/Z_2 |