Raddella Holdings launches insulin manufacturing plant | Sunday Observer

Raddella Holdings launches insulin manufacturing plant

27 September, 2020

Raddella Holdings launched a biotech insulin manufacturing plant at the Koggala Export Processing Zone last week.

State Minister of Pharmaceutical Production, Supply, and Regulation, Prof. Channa Jayasumana, Minister of Tourism, Prasanna Ranatunga, Minister of Plantations, Dr. Ramesh Pathirana and State Minister of Rural and School Sports Infrastructure Development, Thenuka Vidanagamage were present at the groundbreaking ceremony.

The biotechnology manufacturing plant is a Rs. 3.5 billion, 100% local investment, which will employ over 200 specialised and trained professionals. All technology used in manufacturing will be state-of-the-art and conform to the highest tier of European standardization.

This new plant has the capacity to meet 100% of projected local demand for next 15 years. The surplus produced thereafter will be exported and provide a valuable source of foreign revenue.

The operation of the plant will be a joint venture between the Premium International Injectable Company (Pvt) Ltd, a subsidiary of Raddella Holdings and the State Pharmaceutical Manufacturing Corporation (SPMC). All new products will be under the SPMC brand name. Extensive planning for the plant took place over the past two years.

Managing Director and CEO, Thushira Raddella said, “The venture which is a 100% local investment will operate to European standards.

This will ensure that all Sri Lankans have access to excellent quality medication, however at just a fraction of the current cost of expensive foreign imports. We worked tirelessly with multiple stakeholders and completed all designs, technology transfers, and specialist training.”