Zydus Lifesciences and Sri Lanka’s Sunshine Healthcare have entered into a strategic joint venture to establish a new pharmaceutical manufacturing facility in Sri Lanka, with an investment commitment exceeding USD 20 million.
The new entity, Zydus Sunshine Lifesciences Pvt Ltd, will set up the facility at the Board of Investment (BOI) zone in Horana on nearly four acres of land. The foundation stone for the project was laid on Friday (June 26), officially marking the start of development.
According to the companies, the plant will focus on manufacturing pharmaceutical products for Sri Lanka’s retail market, to improve access to high-quality medicines, strengthen local production capacity, and reduce import dependence.
The joint venture combines Zydus’ global expertise in pharmaceutical manufacturing and technical know-how with Sunshine’s strong local market presence and healthcare distribution capabilities. The partnership is expected to support technology transfer, build local manufacturing capability, and create employment, contributing to the long-term development of Sri Lanka’s healthcare ecosystem.
Dr. Sharvil P Patel, Managing Director, Zydus Lifesciences, highlighted that strong local capabilities are key to resilient healthcare ecosystems.
“By combining Zydus’ global experience and manufacturing excellence with Sunshine Holdings’ local expertise, this collaboration marks an important step in strengthening Sri Lanka’s healthcare ecosystem and building sustainable pharmaceutical capabilities for the future,” he added.
Shyam Sathasivam, Group CEO of Sunshine Holdings, described the partnership as a strategic investment in Sri Lanka’s healthcare security and industrial growth.
“Together with Zydus, we aim to enhance local pharmaceutical manufacturing, create skilled employment, and improve access to essential medicines for Sri Lankan consumers,” he said.
The project will operate under the oversight of Sri Lanka’s Board of Investment, with the Ministry of Health and the National Medicines Regulatory Authority serving as key stakeholders. Products manufactured at the facility will comply with NMRA regulations and applicable pricing frameworks.
