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| Sunday, 21 September 2003 |
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Business |  |
| News Business Features Editorial
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SPMC to be restructured by Hiran H. Senewiratne The State Pharmaceutical Manufacturing Corporation (SPMC) is likely to be restructured in the near future. Although restructuring programmes had been proposed by the Public Enterprise Reform Commission for the SPMC, nothing has materialised up to now, said Minister of Health, Nutrition and Welfare P. Dayaratne. Official sources said the factory at Ratmalana will be modernised at a cost of Rs 200 million to expand production. The SPMC is targeting a Rs 20 million profit this year, as against the Rs 5 million profit last year, said SPMC Chairman K.M.S.B. Rekogama. He said SPMC expects to begin the second production shift to raise production. The SPMC has an annual installed capacity of one billion units of tablets and capsules and also 60,000 litres of dry syrup. The SPMC manufactures 53 generic drugs, which account for more than 20 per cent of the country's drug requirements. Rekogama said the SPMC's policy is to supply the best quality drugs at affordable prices. It intends to bring new technology, capital and proper management skills to be competitive in the business, Rekogama added. The SPMC is Sri Lanka's biggest drugs manufacturer and markets its products under the SPC label. It exports anti-filaria tablets to many countries including Egypt, Philippines, Myanmar and the USA. With its own marketing network, the SPMC sells products through 40 dealers. Rekogama said the corporation is a self-funded autonomous entity even though it is a Government-owned body. |
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| Editorial | Security Produced by Lake House |
