Zydus Lifesciences Ltd, an innovation-driven global lifesciences company, has entered into a share subscription and shareholders’ agreement with Sunshine Healthcare Lanka Ltd to establish a pharmaceutical manufacturing facility in Sri Lanka with an investment of $20 million.
The joint venture, Zydus Sunshine Lifesciences Pvt Ltd, will be set up at the Board of Investment zone in Horana.
The facility will initially manufacture pharmaceutical products for Sri Lanka’s retail market, with the objective of strengthening local production and reducing import dependence.
Strategic partnership
The venture combines Zydus’ pharmaceutical manufacturing expertise and technical know-how with Sunshine Healthcare’s strong local market presence and distribution network.
The partnership is expected to facilitate technology transfer, build local manufacturing capabilities and generate employment, supporting the long-term development of Sri Lanka’s healthcare ecosystem.
Leadership comment
“This collaboration marks an important step in strengthening Sri Lanka’s healthcare ecosystem and building sustainable pharmaceutical capabilities for the future,” said Zydus Lifesciences Managing Director Sharvil P. Patel.
“This partnership is a strategic investment in Sri Lanka’s healthcare security and industrial growth. With Zydus, we aim to enhance local pharmaceutical manufacturing, create skilled employment, and improve access to essential medicines for Sri Lankan consumers,” said Sunshine Holdings PLC Group CEO Shyam Sathasivam.
Strengthening healthcare
Sunshine Holdings said the partnership would improve the country’s pharmaceutical self-reliance while enhancing access to essential medicines.
The project will operate under the oversight of Sri Lanka’s Board of Investment, with the Ministry of Health and the National Medicines Regulatory Authority as key stakeholders.
All products manufactured at the facility will comply with NMRA regulations and applicable pricing frameworks.
Company profile
Zydus Lifesciences has a global presence across formulations, active pharmaceutical ingredients (APIs), medical technology, diagnostics, animal healthcare and consumer wellness, with operations spanning more than 55 countries.