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For the first time in the Sri Lankan medical history, CIC Pharmaceuticals will be manufacturing medical syringes in Sri Lanka.
Government hospitals spend around Rs. 600 million annually to import syringes and CIC hopes to rake around 15% market share from this CIC, Divisional Director Healthcare and Consumer Division, S. Premakumar Weyhenage.
“We hope to come to a forward buying agreement with the government for this operation,” he said. Speaking to Daily News Business he said that that in addition they will also look at manufacturing other medical devices mainly targeting the export market.
“We already have a facility at Ekala and we are looking at building a factory there to manufacture these medical devices and syringes.”
He said that the company had acquired Ceylinco Pharmaceuticals in 2012 and have reinvested and re branded as CIC Lifesciences Ltd to manufacture 15 varieties of drugs to the local market. “We are now looking at investing US$ 2.5 million and increase production. CIC may look at a joint venture in this regard.”
