Press briefing of Cabinet Decision taken on 2019-03-06

The progress of the establishment of the Joint Ventures by Potential Investors with the State Pharmaceuticals Manufacturing Corporation (SPMC) for the manufacture of Pharmaceuticals

- The development of the pharmaceutical manufacturing industry of Sri Lanka will pave the way for saving the foreign exchange spent on the import of pharmaceuticals and also for keeping the prices of the pharmaceuticals stable. As such, the Cabinet of Ministers has previously granted approval to identify the potential investors for providing the necessary fresh and high quality medicinal ingredients to the hospitals uninterruptedly and for the State Pharmaceuticals Manufacturing Corporation to establish joint ventures with them. The matters presented, in this regard, for the information of the Cabinet by Hon. (Dr.) Rajitha Senaratne, the Minister of Health, Nutrition & Indigenous Medicine to the effect that on such approval, 17 institutions have established joint ventures with the State Pharmaceuticals Manufacturing Corporation and that their projects are in progress, was noted by the Cabinet.