Zydus Lifesciences, Sunshine Healthcare launch $20 million pharma plant in Sri Lanka
EconomyNext: Sunshine Healthcare and Zydus Lifesciences will build a pharmaceutical manufacturing facility in Sri Lanka at a cost of over 20 million US dollars through a joint venture company – Zydus Sunshine Lifesciences Pvt Ltd.
The foundation stone for the factory, which will be developed on nearly four acres of land at the Board of Investment zone in Horana, was laid recently.
The plant will focus on manufacturing pharmaceutical products for Sri Lanka’s retail market, improving access to high-quality medicines while supporting national supply chain resilience, the companies said in a joint statement.
“Strong local capabilities are key to resilient healthcare ecosystems. By combining Zydus’ global experience and manufacturing excellence with Sunshine Holdings’ local expertise, this collaboration marks an important step in strengthening Sri Lanka’s healthcare ecosystem and building sustainable pharmaceutical capabilities for the future,” Sharvil P Patel, Managing Director, Zydus Lifesciences said.
The joint venture combines Zydus’ global expertise in pharmaceutical manufacturing with Sunshine’s local market presence and healthcare distribution capabilities.
“Together with Zydus, we aim to enhance local pharmaceutical manufacturing, create skilled employment, and improve access to essential medicines for Sri Lankan consumers,” Shyam Sathasivam, Group CEO Sunshine Holdings, said.
The partnership will support technology transfer, build local manufacturing capability, and create employment, contributing to the long-term development of Sri Lanka’s healthcare ecosystem, according to the statement.
Zydus Lifesciences brings capabilities across formulations, APIs, medical technology, diagnostics, animal healthcare and consumer wellness.
It’s global healthcare expertise and manufacturing will play a key role in establishing and scaling the facility.
The project will operate under the oversight of the Board of Investment, with the Ministry of Health and the National Medicines Regulatory Authority as key stakeholders.
All products will comply with NMRA regulations and applicable pricing frameworks.
OSL take:
Sri Lanka’s healthcare sector is entering a period of sustained growth, creating attractive business/investment opportunities for foreign businesses/investors across pharmaceuticals, medical manufacturing, healthcare services, medical technology, diagnostics, and hospital infrastructure. The recent $ 20 million joint venture between Sunshine Healthcare and Zydus Lifesciences to establish a pharmaceutical manufacturing facility in Horana underscores growing investor confidence in the sector and the country’s potential as a regional manufacturing base. As Sri Lanka seeks to strengthen domestic pharmaceutical production, improve healthcare access, and enhance supply chain resilience, demand is expected to increase for international expertise, technology, investment, and strategic partnerships. The expansion and profitability of companies already operating in the market further highlight the sector’s strong commercial potential, positioning Sri Lanka as an increasingly attractive destination for long-term healthcare investment.
| Article Code : | VBS/AT/20260708Z_2 |