J L Morison to build a State-of-the-Art New Research and Manufacturing Facility in Homagama
Sri Lanka’s first EU Good Manufacturing Practices (GMP) compliant manufacturing facility
Colombo, Thursday 15 June 2017: J L Morison Son & Jones (Ceylon) PLC, the largest pharmaceutical manufacturer in Sri Lanka, is investing USD 13.5 million on a new Research and Manufacturing facility located within the SLINTEC (Sri Lanka Institute of Nano Technology) Park in Pitipana, Homagama. The foundation stone laying ceremony was conducted on 15th June in the presence of top management officials. The plant will be the first European Union Good Manufacturing Practices (GMP) compliant facility in the country. The state-of-the-art facility is expected to be in operation by March 2019 and will further augment the manufacturing capacity of J L Morison.
J L Morison Son & Jones (Ceylon) PLC commenced operations in Sri Lanka in 1939 and listed on the Colombo Stock Exchange in 1964. In May 2013, the Hemas Group acquired a controlling stake of the company. Today, it is a fully Sri Lankan owned company with over seven decades of experience in pharmaceutical manufacturing and renowned over-the-counter brands such as Morison’s Gripe Mixture, Lacto Calamine, and Valmelix, amongst others. The manufacturing process maintains stringent quality standards and is in compliance with the recognised pharmacopeia specifications and good manufacturing practices, in line with World Health Organisation (WHO) guidelines.
The global Pharmaceutical industry is one of the fastest growing industries, which over the last decade, has grown steadily at a Compound Annual Growth Rate of 5.8%. The stable growth trajectory is expected to continue and reach USD 1.4 trillion by 2020. The rise of “Pharmerging Markets” which is expected to reach 350 billion dollars by 2020 is one key trend seen abetting this growth.
Managing Director, Trihan Perera of J L Morison Son & Jones (Ceylon) PLC said, “The new Research and Manufacturing facility marks an exciting new era for J L Morison and is also significantly, a key milestone for the industry. The facility will create employment for over 200 skilled and semi-skilled persons. It will enhance the use of new technology in the industry and facilitate a modern and technologically-advanced workplace for our employees. Most importantly, the establishment will focus on increasing the availability of an even wider range of high quality, efficacious pharmaceuticals in the country, thereby enhancing our self-sufficiency. This will help save valuable foreign exchange over the years and help bolster our nation’s foreign exchange earnings through exports. We thereby envision a multitude of benefits for all our valued stakeholders and the nation as a whole as a result of this operation. Every great journey begins with the first step. Today, we take that first step with revitalised aspirations, courage and commitment.”
He also stated that the new facility will contribute significantly in achieving a near self-sufficiency in pharmaceuticals, while creating a stronger footprint in exports. A globally significant pharmaceutical manufacturing industry in Sri Lanka will be able to better support a robust national health policy that will benefit all Sri Lankans.
Driven by the increase in global trade in pharmaceutical products and the subsequent complex technical regulations related to medical safety and quality, there has been a push towards the harmonisation of international pharmaceutical guidelines and regulations by intergovernmental organisations at regional and international levels.
Thus, the partnership with SLINTEC is expected to drive cutting edge innovation through both Nano and Bio technology in creating innovative and effective pharmaceuticals, enabling Sri Lanka to be ready to compete in the global pharmaceutical arena.
J L Morison Son & Jones (Ceylon) PLC is a subsidiary of diversified conglomerate Hemas Holdings PLC, listed in the Colombo Stock Exchange with a focus on Fast Moving Consumer Goods, Healthcare, Transportation, and Leisure.