Press briefing of Cabinet Decision taken on 2011-10-19

Development of the Pharmaceutical Industry

- the annual consumption of Pharmaceutical Products by the Government is around Rs.15 billion and it represents well over 35% of the domestic consumption. The Government intends to introduce a system to procure government pharmaceutical requirements from local manufacturers by the Ministry of Health to promote the local pharmaceutical industry. Steps have been taken by the Ministry of Industry and Commerce to provide laboratory facilities in collaboration with the University of Colombo to facilitate testing of products and also to assist the industry to obtain required short term technical training overseas. On a proposal made Hon. Rishad Bathiudeen, Minister of Industry and Commerce, a Dedicated Industrial Zone for life sciences is to be established to promote local production. At the moment over 10 reputed pharmaceutical manufacturers have expressed their willingness to invest in this industry. The above proposal made by the Minister, was approved by the Cabinet.