Browns to set up $5M pharma plant

By Zohara Ghaffoor

The pharmaceutical wing of Brown and Company PLC will start-up a pharmaceutical manufacturing plant with an investment of US$ 5 million under the Government’s 38 Joint Ventures Pharmaceutical programme. According to Browns & Company PLC, Pharma Manufacturing and Distribution, Chief Executive Officer, Premakumar Weyhenage the manufacturing project will take one-and- a- half years for completion and will be a pharmaceutical supplier to the Government.

Weyhenage noted the manufacturing plant will be located either in a Nano park based in Homagama, proposed by the Industrial Ministry or a Kalutara-based land area mooted by the Ministry of Health. He said the selection will be based on available facilities.

“We have signed a Memorandum of Understanding (MOU) with the Government and are awaiting the Agreement from the Ministry of Health.

He noted that the Company was on a mission to expand its pharmaceutical wing and is planning to capitalize on medical devices importation and distribution to the industry.

Chairman, Browns Investments PLC, Ishara Nanayakkara mid last year said the Company’s nutraceutical division was set to play a major role this year with introductions of nutraceutical products to the existing pharmaceutical product mix.
Earlier this month, Ceylon FT reported that the Government through the State Pharmaceutical Manufacturing Corporation (SPMC), signed 38 Joint Ventures (JVs) with overseas multinational corporations to manufacture 85% of the country’s pharmaceutical requirements in Sri Lanka.

According to the Co- Government spokesman and Health Minister, Dr. Rajitha Senaratne, there will be 38 factories inclusive of a specialized industrial zone in the Kalutara District, spanning 60 acres, which will be awarded to a single Malaysian manufacturer and be an exclusive Pharma Zone.

According to the Chairman State Pharmaceutical Manufacturing Corporation, Dr. Sayuru Samarasundera, the project will be a US $ 250 Million investment. However, he said the entire Pharmaceutical industry was worth US $ 800 million.