Morison invests Rs. 4 bn to commence local production of 3 high-in-demand medicines
Morison Ltd., a pioneer in pharmaceutical manufacturing (formerly known as J.L. Morison’s Son & Jones (Ceylon), commenced manufacturing of Bisoprolol tablets B.P. 5 mg 250s, Ros-10 (Rosuvastatin tablets I.P. 10mg 30s blister),and ChlorMor (Chlorphenamine tablets B.P. 4mg 100s blister) recently in Sri Lanka.
This marks a milestone in the local pharmaceutical industry, as these high-in-demand medicines are now more affordable and accessible to our people, the supply of which does not have to depend on imports. Morison’s investment is Rs 4 billion in its new state-of-the-art pharmaceutical research and manufacturing facility in Pitipana, Homagama.
This is the first time in Sri Lanka, Bisoprolol 5 mg tablets are now being manufactured locally by Morison and supplied to the Medical Supplies Division for the use in government hospitals. Annual requirement of Bisoprolol in the government sector is around 40 million tablets, which have been imported to date.
By producing the same locally, Morison is able to make a significant forex saving for the national economy during these unprecedented times. Plans are underway to make Bisoprolol B.P. 2.5mg and 5 mg available in all leading pharmacies as a branded medication in due course. The second new product Ros-10at approximately half of the current weighted average market price, offering significant savings to Sri Lankans.
The third latest addition to the Morison portfolio, ChlorMor too was launched at a price less than the prevailing similar products in the market.
Dinesh Athapaththu, Managing Director of Morison, said:, “This indeed is a key milestone for Morison as well as the pharmaceutical manufacturing industry in the country. Our purpose is to “Make Premium Healthcare Affordable”, and our efforts to enact our purpose are now predominantly concentrated on nurturing an exclusive homegrown pharmaceutical brand that is built upon a value blend that is uniquely unparalleled.
Our new branded pharmaceutical range as such offers six Unique Value Propositions (UVPs) which are precisely being Truly Sri Lankan, offering Global Quality, at a Local Price, introducing Novel therapies, through a purely Ethical framework whilst being a credible pharmaceutical brand that our people can rely on.”