Global pharmaceutical company Zydus Lifesciences and Sunshine Healthcare have announced a strategic joint venture (JV) to establish a pharmaceutical manufacturing facility in Sri Lanka with an investment exceeding US$20 million.
The new joint venture, named Zydus Sunshine Lifesciences Pvt Ltd., will develop the manufacturing plant at the Board of Investment (BOI) zone in Horana. The facility will be built on nearly four acres of land, with the foundation stone laid on June 26, marking the official commencement of the project.
The plant will manufacture pharmaceutical products for Sri Lankaโs retail market, with the objective of improving the availability and accessibility of high-quality medicines while enhancing the resilience of the countryโs pharmaceutical supply chain.
The partnership combines Zydus Lifesciencesโ global expertise in pharmaceutical manufacturing, research and technology with Sunshine Healthcareโs extensive local market presence and healthcare distribution network. The companies said the venture will facilitate technology transfer, strengthen local manufacturing capabilities and generate skilled employment opportunities, contributing to the long-term development of Sri Lankaโs healthcare sector.
The investment comes as Sri Lanka continues to encourage domestic manufacturing in essential industries to improve economic resilience and reduce reliance on imported products.
Zydus Lifesciences brings extensive experience across pharmaceutical formulations, active pharmaceutical ingredients (APIs), medical technology, diagnostics, animal healthcare and consumer wellness, with its global manufacturing expertise expected to play a key role in developing and expanding the Horana facility.
Zydus Lifesciences Managing Director Dr. Sharvil P. Patel said the company has always believed that strong local capabilities are essential for building resilient healthcare systems. He noted that combining Zydusโ global manufacturing excellence with Sunshine Holdingsโ local expertise would strengthen Sri Lankaโs healthcare ecosystem and support the development of sustainable pharmaceutical capabilities.
Sunshine Holdings Group CEO Shyam Sathasivam described the venture as a strategic investment in Sri Lankaโs healthcare security and industrial development. He said the collaboration would enhance local pharmaceutical manufacturing, create skilled employment opportunities and improve access to essential medicines for Sri Lankan consumers.
The project will operate under the supervision of the Board of Investment, with the Ministry of Health and the National Medicines Regulatory Authority serving as key stakeholders. The companies confirmed that all pharmaceutical products manufactured at the facility will comply with National Medicines Regulatory Authority regulations and applicable pricing frameworks.
Source: Daily News
