Indo–Sri Lankan joint venture to produce quality medicines in Sri Lanka, for Sri Lanka

Zydus Sunshine Lifesciences (Pvt) Ltd, a proposed joint venture between Zydus Lifesciences Limited, an innovation-led global life-sciences company headquartered in India, and Sunshine Healthcare, part of Sunshine Holdings PLC, signed an agreement at the Board of Investment of Sri Lanka (BOI) to establish a pharmaceutical manufacturing facility in the BOI zone in Horana. The project represents a phased investment of over USD 20 million.

The facility will be developed on a site of nearly four acres, with commercial operations expected to commence in 2028, subject to project timelines and the relevant regulatory approvals.

Medicines made in Sri Lanka, for Sri Lanka

In its first phase, the facility will focus on the manufacture of oral solid dosage forms for the Sri Lankan market. By producing these essential medicines locally, the venture will support access to quality medicines for Sri Lankan patients and strengthen the country's domestic pharmaceutical manufacturing capacity.

The project is also expected to bring meaningful technology transfer to Sri Lanka, improve the resilience of the national medicine supply chain and reduce the country's dependence on imported pharmaceuticals – priorities that have gained renewed importance in recent years.

Global science meets local strength

The joint venture brings together the global manufacturing expertise of Zydus and the local strength of Sunshine Holdings PLC. Zydus Lifesciences Limited is an innovation-led life sciences company with leadership positions across pharmaceuticals and consumer wellness, supported by an emerging MedTech

franchise and a global footprint across the United States, India and other international markets. The group employs 30,000 people worldwide, including 1,500 scientists engaged in research and development. Zydus is driven by its mission to unlock new possibilities in life sciences through quality healthcare solutions that improve lives.

Sunshine Healthcare is the healthcare arm of Sunshine Holdings PLC, a diversified Sri Lankan conglomerate with interests in healthcare, consumer goods and agribusiness. Its healthcare portfolio spans pharmaceuticals, medical devices, retail, manufacturing and R&D, and distribution, giving the venture an established local presence and a nationwide route to market.

Together, the partners combine Zydus' globally proven manufacturing expertise with Sunshine's deep understanding of Sri Lanka's healthcare landscape.

Building Sri Lankan skills and careers

The venture is expected to create skilled employment, with more than 80 per cent of its workforce anticipated to be Sri Lankan nationals. Through specialised training and capability development, the project will help build local expertise across pharmaceutical manufacturing, quality assurance, and scientific and technical functions – strengthening the talent base of a high-value industry in Sri Lanka.

A long-term investment in Sri Lanka's future

Zydus Sunshine Lifesciences represents a long-term commitment to Sri Lanka's healthcare sector and industrial development. As the facility takes shape in Horana, it will add a new dimension to the BOI's portfolio of manufacturing investments, reinforcing Sri Lanka's position as a destination for knowledge-intensive, high-value industry.