India’s Zydus Lifesciences and Sri Lanka’s Sunshine Healthcare plan to invest over US$ 20 million in a pharmaceutical manufacturing facility in Horana, targeting local demand and reducing reliance on imported medicines.
Zydus Sunshine Lifesciences (Pvt) Ltd, the proposed joint venture between the two companies, has signed an agreement with the Board of Investment (BOI) to establish the plant in the Horana BOI zone, according to a company statement.
The phased investment will cover a site of nearly four acres, with commercial operations expected to begin in 2028, subject to project timelines and regulatory approvals.
The first phase will manufacture oral solid dosage forms for the Sri Lankan market, expanding domestic pharmaceutical production capacity.
The partners said the project was expected to bring technology transfer, strengthen the resilience of the national medicine supply chain and reduce dependence on pharmaceutical imports. The statement did not disclose production capacity, the range of medicines to be manufactured or the joint venture’s ownership structure.
The venture will combine Zydus’ pharmaceutical manufacturing expertise with Sunshine Healthcare’s local operations and distribution network.
Headquartered in India, Zydus Lifesciences operates across pharmaceuticals and consumer wellness, with a presence in the United States, India and other international markets. The group employs around 30,000 people worldwide, including 1,500 scientists engaged in research and development.
Sunshine Healthcare, the healthcare arm of listed Sunshine Holdings PLC, has operations spanning pharmaceuticals, medical devices, retail, manufacturing, research and development, and distribution. Its established nationwide network is expected to provide the venture with access to the domestic market.
More than 80 percent of the proposed facility’s workforce is expected to comprise Sri Lankan nationals, although the partners did not specify the total number of jobs to be created.
The project will include specialised training across pharmaceutical manufacturing, quality assurance, and scientific and technical functions, aimed at developing local skills to support the operation.
