The Board of Investment (BOI) of Sri Lanka has partnered in a US$ 12.16 million agreement with Celogen Lanka, a prominent local pharmaceutical manufacturer to support its research and development (R&D) initiatives.

The company already operates a cutting-edge cGMP manufacturing facility, which is EU-GMP compliant and approved by the World Health Organization (WHO-GMP) and Sri Lanka’s National Medicines Regulatory Authority (NMRA).

The new agreement is aimed at improving the company’s R&D capabilities and support its manufacturing development of advanced pharmaceutical products. 

The agreement for the investment venture was inked this week by BOI Chairman Arjuna Herath and officials of Celogen Lanka at the BOI headquarters in Colombo.