Sri Lanka’s first insulin manufacturing factory, established at an investment of over Rs. 3 billion, is expected to commence production in 2027, according to the Ministry of Health.
The factory, operated by Premium International Injectable (Pvt) Ltd, is located at the Koggala Export Processing Zone in Galle.
According to the Ministry, construction of the facility has been completed, with production scheduled to begin next year following the completion of the required validation process.
In addition to insulin, the factory plans to manufacture anaesthetic drugs, painkillers and other pharmaceutical products, with plans to eventually expand production to 33 types of medicines.
Minister of Health and Mass Media Dr. Nalinda Jayatissa, who inspected the facility on October 17, said reducing dependence on pharmaceutical imports and strengthening local production would be key government priorities over the next decade.
The Minister revealed that Sri Lanka currently imports around 85–90 percent of the medicines required for its hospital system, while locally manufactured medicines account for only 10–15 percent.
He further stated that the government has managed to fulfil approximately 96 percent of the pharmaceutical supply requirements of hospitals, although procurement difficulties remain for 37 types of medicines due to a lack of suppliers.
The Minister noted that expanding local pharmaceutical manufacturing would help save foreign exchange spent on imports while creating opportunities to generate export revenue.
He also revealed that discussions are underway to supply medicines to the Maldives through the State Pharmaceuticals Manufacturing Corporation (SPMC), while requests have been received from other countries, including Timor-Leste.
The new insulin manufacturing facility is being established as a joint venture with the SPMC, with a 15-year pharmaceutical supply agreement already in place.
According to the Ministry, the company also intends to export its products after meeting domestic demand. (Newswire)
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