News Today: BOI Enters Agreement with Celogen Lanka for Pharmaceutical R&D Advancement

The Board of Investment (BOI) of Sri Lanka recently signed a US$ 12.16 million agreement with Celogen Lanka, a leading local pharmaceutical manufacturer, to bolster its research and development (R&D) efforts. This investment aims to enhance Celogen Lanka’s capabilities in pharmaceutical R&D, fostering the production of advanced medicines within the country.

Celogen Lanka operates a state-of-the-art manufacturing facility that has received approvals from the World Health Organization (WHO-GMP) and Sri Lanka’s National Medicines Regulatory Authority (NMRA). The new agreement will further strengthen the company’s R&D infrastructure, allowing it to innovate and contribute to the local healthcare sector’s growth.

The signing event, held at the BOI headquarters in Colombo, was attended by BOI Chairman Arjuna Herath and key representatives from Celogen Lanka. This partnership highlights BOI’s commitment to supporting high-impact industries that drive economic growth and innovation. The collaboration aligns with Sri Lanka’s goals of improving self-sufficiency in pharmaceuticals and advancing the quality of healthcare.