Raddella Holdings Launches the First Biotech Insulin Manufacturing Plant in Sri Lanka

Raddella Holdings introduce yet another revolutionary first with the launch of Sri Lanka’s first and only biotech insulin manufacturing plant. The recently concluded groundbreaking ceremony was held on the 18th of September 2020, at the Koggala Export Processing Zone. The landmark event was attended by a host of dignitaries and guests including the State Minister of Pharmaceutical Production, Supply, and Regulation – Hon. (Prof.) Channa Jayasumana, Minister of Tourism – Hon. Prasanna Ranatunga, Minister of Plantation – Hon. (Dr.) Ramesh Pathirana, State Minister of Rural and School Sports Infrastructure Development – Hon. Thenuka Vidanagamage and many more. The operation of the new plant will involve a joint venture between the Premium International Injectable Company (Pvt) Ltd, a subsidiary of Raddella Holdings and the State Pharmaceutical Manufacturing Corporation (SPMC). All new products manufactured as a result of this venture will be done under the SPMC brand name, with full government supervision. The new plant will utilize world famous SCADA systems to monitor and control the plant, all equipment, and the entire manufacturing process. This will guarantee the highest level of quality control, where all records of manufacture are completely automated and thus tamper-proof. Other quality control methods include adhering to The European Union Goods Manufacturing Practice (EUGMP), Good Manufacturing Practice (GMP), while also complying with the strict standards set by the World Health Organization (WHO). The extensive planning for the plant happened over the last two years, in this time all designs, technology transfers, and specialist training have been completed, with all approvals and certification having been obtained. With construction completed soon, the plant will commence operations shortly. The opening of this landmark project marks a historic step in the right direction. It also signals the country’s move towards greater self-sufficiency as per the vision of His Excellency President Gotabaya Rajapaksa.  This brave new strategic vision for the country will guarantee a more sustainable economic future, while offsetting the enormous annual spend incurred due to the import of medicines. Furthermore, all drugs manufactured via this new venture will be custom made and specifically designed for the needs of the local consumer. The government has also implemented an excellent and very necessary buy-back guarantee. This encourages and supports new ventures in biotechnology and gives local entrepreneurs the confidence to invest. Special recognition should go to State Minister of Pharmaceutical Production, Supply, and Regulation – Hon. (Prof.) Channa Jayasumana, Minister of Health, Hon. Pavithra Wanniarachchi, and the Chairman of SPMC, Dr. Uthpala Indrawansa, for the indispensable role they have played in making a venture of this magnitude possible. Speaking about this groundbreaking endeavor Managing Director – CEO, Thushira Raddella had this to say. “The opening of Sri Lanka’s first biotechnology manufacturing plant is a momentous occasion for the whole country. In fact, the SPMC has done an outstanding job in ensuring a project of this magnitude is possible. It is also a step in the right direction as we embrace the virtue of self-reliance as a nation. The venture which is a 100% local investment will operate to European standards. This will ensure that all Sri Lankans have access to excellent quality medication, however at just a fraction of the current cost of expensive foreign imports. We have worked tirelessly with multiple stakeholders and completed all designs, technology transfers, and specialist training – the construction is just the last tip of the iceberg” Raddella Holdings is a family enterprise founded in 1984 by Nihal Raddella, a visionary in the field of finance and civil engineering. The organization has since expanded and today the second generation of the Raddella family continues this progressive vision with a diversified conglomerate that employs over 1000 employees and has a presence in several key sectors.

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