The agreement signed on Jan. 08, coincided with the third anniversary of the Sri Lankan government.
A host of distinguished guests including leading Malaysian entrepreneur - Mr. Patrick Lim Soo Kit, Minister of Health - Dr. Rajitha Senaratne, Chairman of the SPMC - Dr. Sayura Samarasundara, National Chamber of Pharmaceutical Manufacturers of Sri Lanka (NCPM) President Dr. Lohitha Samarawickrema, Dr. Jay of BPC Health Care and MD of the SPMC - Mr. Sundaralingam attended the event.
Inti Kemuncak Sdn Bhd, an investment vehicle of the Sultan of Johor, will invest in US $ 10 million Pharma Zone (Pvt.) Ltd to create the 50-acre pharmaceutical manufacturing zone in Welipanna in the Kalutara District.
Already, 17 NCPM members have signed memorandums of understanding (MoUs) with State Pharmaceutical Manufacturing Corporation (SPMC) to set up factories, each with an investment of US $ 4 million upwards, in two to four-acre slots in the zone, according to Dr. Samarawickrema.
The Zone will be run and administered by Pharma Zone, headed by Mr Patrick Lim Soo Kit, while the SPMC along with the Ministry of Health will set the standards and monitor quality.
Electricity, water, road infrastructure, security, wastewater management, etc will all be provided to the companies operating within the Zone.
Drugs from Plasma
Meanwhile, the government also signed an agreement with BPC Health Care to manufacture drugs using plasma which are usually rejected as clinical waste.
A thing of the past
Chairman SPMC, Dr. Sayura Samarasundara said that with the completion of the Pharma Zone, envisaged to be in operation within one year, the Country’s dependency on imported drugs will soon become a thing of the past.
Speaking at the event, Mr. Patrick Lim Soo Kit said, “We are delighted to enter into this agreement with the government of Sri Lanka which has always enjoyed warm relations with Malaysia. It is the fervent wish of His Majesty Sultan Ibrahim, that this venture not only brings commercial prosperity to Sri Lanka but benefits the people by way of reduced pricing as well as the ready availability of drugs”, said Mr Lim speaking on the occasion. “This is a 100 % Malaysian investment and it underlines the high regard that the Sultan and the people of Johor for Sri Lanka”.
"It is the intention of Pharma Zone to attract overseas investors to set up operations within the Zone as well. “We will be marketing Pharma Zone regionally,” he added.
Minister of Health, Dr. Rajitha Senaratne expressed his gratitude to the Sultan and the people of Johor Malaysia for making the Pharma Zone a reality. He said that the establishment of the Pharma Zone by His Majesty the Sultan of Johor would hopefully give confidence and encourage other overseas investors to follow suit.