GSK to invest Rs. 200 m more for two new manufacturing plants

Wednesday, 5 December 2012 01:43 - - {{hitsCtrl.values.hits}}

GlaxoSmithKline (GSK), one of the world’s largest research based pharmaceutical and healthcare companies, has announced the investment of Rs. 200 million to build two state-of-the-art manufacturing facilities in Sri Lanka.

The latest venture comes hot on the heels of global giant recently setting up a world class facility to manufacture Panadol tablets with a Rs. 217 million investment, one of the largest in the Sri Lanka pharmaceutical industry.

The new investment will see GSK inaugurating two new plants in the first quarter of 2013 to manufacture Idoex and Eno locally.

Operating in 117 countries, GSK’s parent company continues to hold confidence in the country and recently infused a FDI of US$ 11.2 million and continues to invest more.

New plans were conveyed by GSK Sri Lanka CEO T.S Dayanand and Senior Director Dinesh Weerakkody when the duo called on Economic Development Minister Basil Rajapaksa last week to invite him to commission the facilities. They assured that GSK’s parent would continue to invest to further strengthen GSK’s presence in Sri Lanka.

It has been operating in Sri Lanka since 1958, marketing quality pharmaceutical and healthcare products. GSK in the last two years has brought in major investments to upgrade packaging of Panadol tablets, Horlicks, Viva and manufacturing of Panadol syrup.