Sri Lanka’s first insulin manufacturing plant to begin production in 2027

Sri Lanka’s first insulin manufacturing plant is expected to begin production in 2027 as part of efforts to reduce the country’s dependence on imported medicines and expand local pharmaceutical manufacturing.

Health and Mass Media Minister Dr Nalinda Jayatissa said, on Sunday, the Government’s priority over the next decade was to strengthen domestic pharmaceutical production while also developing export opportunities.

He made the remarks during a visit to the insulin manufacturing facility operated by Premium International Injectable (Pvt) Ltd at the Koggala Export Processing Zone in Galle.

The plant, built at an investment of more than Rs. 3 billion, has completed construction. Production is expected to begin next year once the required validation process has been completed.

In addition to insulin, the company plans to manufacture anaesthetic drugs, painkillers and other pharmaceutical products. It aims eventually to expand production to 33 different medicines.

Jayatissa said Sri Lanka currently imports around 85% to 90% of the medicines required by the hospital system, while locally manufactured products account for only about 10% to 15%.

He said the Government had focused over the past two years on maintaining uninterrupted supplies following disruptions caused by the Covid-19 pandemic and the economic crisis.

Around 96% of the medicines required by hospitals are currently being supplied, he said. Among the remaining shortages are 37 medicines for which no suppliers had submitted bids during the procurement process.

Jayatissa said expanding domestic manufacturing would help reduce foreign exchange expenditure on pharmaceutical imports while also creating opportunities to earn export revenue.

He said discussions were under way to supply medicines to the Maldives through the State Pharmaceuticals Manufacturing Corporation, while inquiries had also been received from Timor-Leste and several other countries.

Sri Lanka currently imports most of its insulin from four Indian companies.

Jayatissa said local production would help strengthen supply security and improve the ability to monitor product quality.

The project is being implemented as a joint venture with the State Pharmaceuticals Manufacturing Corporation, with a 15-year supply agreement in place. The company also plans to export its products after meeting domestic demand.