Celogen Lanka (Pvt) Ltd., a new plant to manufacture pharmaceuticals was opened recently at the BOI Kandy Industrial Park in Pallekelle by President Maithripala Sirisena.

The manufacturing facility is a joint venture between Sri Lankan and Indian entrepreneurs with an investment value of USD 6.6 million. It will create employment for 150 workers including 80 university graduates. The Company will be producing a wide range of tablets including Metformin, Losartan potassium and Atorvastatin, capsules such as Omeprazole and Soft Gel Vitamin A, E and A & D.

Currently Sri Lanka imports approximately USD 1 billion worth of pharmaceutical products and is almost entirely dependent on imports. The Government’s ambitious target is to reduce imports of pharmaceuticals by 70 percent by 2020.

Rajitha Senaratne, Minister of Health, Nutrition and Indigenous Medicine and Upul Jayasuriya, Chairman of Board of Investment of Sri Lanka and other dignitaries participated on this occasion.