Thursday Jul 30, 2026
Thursday Jul 30, 2026
Thursday, 30 July 2026 05:40 - - {{hitsCtrl.values.hits}}
By Charumini de Silva
Sri Lanka Pharmaceutical Manufacturers’ Association (SLPMA) President Dinesh Athapaththu this week called for the Government to establish a stable, long-term pharmaceutical buyback scheme, describing it as a cornerstone policy for attracting investment and expanding the domestic pharmaceutical manufacturing industry.
Delivering his inaugural address after assuming office as President at the Association’s 60th Annual General Meeting (AGM), he said the buyback scheme had played a pivotal role in supporting local manufacturers over the years, but noted that its evolution into multiple formats had created uncertainty for investors.
“What the industry needs is policy stability. We need a long-term buyback framework built around a clear national industry strategy. In return, manufacturers are prepared to be held accountable for delivering investment, innovation, and exports,” he said.
Athapaththu also urged the Government to maintain investment incentives for pharmaceutical manufacturers, stressing that the industry requires significant upfront capital and long gestation periods before generating returns.
He explained that establishing a modern pharmaceutical manufacturing facility is a lengthy and complex process, with construction alone taking between two and five years, followed by extensive qualification and validation procedures before production can begin.
“Even after manufacturing starts, companies must complete product development, obtain regulatory approvals, build brands, and establish market acceptance before generating sustainable revenue,” he said.
He added that exporters face an even longer timeline, as overseas regulatory approvals can only commence after products have been successfully commercialised in the domestic market.
“Pharmaceutical manufacturing is among the most capital-intensive, scientifically demanding, and time-consuming industries to build. It requires patient capital and long-term commitment,” Athapaththu said.
The SLPMA President also called for greater policy consistency by simplifying import procedures for pharmaceutical raw materials.
He pointed out that, unlike finished pharmaceutical imports, manufacturers are required to obtain multiple approvals for every shipment of raw materials, resulting in delays and higher operating costs.
Athapaththu urged the authorities to streamline these procedures through closer engagement with industry stakeholders, arguing that reducing regulatory bottlenecks would improve manufacturing efficiency and competitiveness.
Despite the challenges facing the sector, he maintained that strengthening domestic pharmaceutical manufacturing is essential for Sri Lanka’s long-term pharmaceutical security.
He noted that the COVID-19 pandemic had highlighted the vulnerabilities associated with excessive dependence on imported medicines, reinforcing the importance of developing a resilient local manufacturing base capable of supporting the country’s healthcare needs.
