Pakistan has pledged to share the best practices of and technical know-how on Pharmaceutical Manufacturing with Sri Lanka.
This assurance was given by Pakistan State Minister, Kashif Sajjad Sheikh, Head of the Pakistani Pharmaceutical Delegation at a bilateral meeting in Colombo recently.
He promised to share the best practices and technical know-how with theSri Lanka Pharmaceutical Manufacturing Association (SLPMA).
He also invited the State Minister and SLPMA to visit Pakistan to make a Road Show on the Opportunities for Pharmaceutical manufacturing in Sri Lanka and enter into MOUs with prospective Pakistan companies, which will be facilitated by PPMA.
Elaborating further, Mr. Kashif stated that it is a good sign that Sri Lankan government policies and the National Medicinal Regulatory Authority are supporting local manufacturing.
He also emphasized the importance of extending the present buyback policy of government for new products to be developed in the future, which will be a definite boost for local manufacturers
The Sri Lanka Pharmaceutical Manufacturers’ Association (SLPMA) facilitated a bilateral meeting on the 24th of February with visiting representatives of the Pakistani Pharmaceutical Manufacturers’ Association (PPMA).
The first ever bilateral meeting between pharmaceutical manufacturers of the two countries focused on mutually beneficial proposals for both nations to leverage on opportunities provided by each for the other.
State Minister Jayasumana requested the Pakistani pharmaceutical manufacturers to share their experience in developing Pakistan’s local pharmaceutical manufacturing industry. He also invited the PPMA to set up joint ventures with local pharmaceutical companies to manufacture complex molecules in Sri Lanka, in order to benefit from the government’s drive to increase local pharmaceutical manufacturing to 50% of the country's requirement by 2025.
Sri Lankan Pharmaceutical Manufacturers will have to manufacture at least 350+ pharmaceuticals locally, he said.
The SLPMA emphasized on the importance of the Pakistani pharma story for local policy makers, especially in learning how the Pakistani government moved towards formulating a long term policy and incentivised the private sector towards local manufacturing.
The SLPMA is hoping to achieve 50% production of local pharmaceutical requirements by 2025, and a target of US$ 1 Billion per year in exports by 2030.
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