SPC records Rs.1,719 mn profit last year | Daily News

SPC records Rs.1,719 mn profit last year

The State Pharmaceuticals Corporation (SPC) has recorded a profit of Rs.1,719 million, last year.

The SPC was only able to record a profit of Rs.741 million in 2015; and drug sales, which were at Rs.4,865 million in 2014, are now at Rs.7,475 million.

Referring to the development; Health, Nutrition and Indigenous Medicine Minister Dr. Rajitha Senaratne told the Daily News that the value of drugs and surgery equipment being imported was recorded at Rs.17,269 million in 2014. In 2018, the figure stood at Rs.32,000 million.

The State Pharmaceuticals Corporation has opened 43 branches in the country and at present, it has been planned to open additional branches in Kegalle, Badulla, Ambalangoda, and the Dharga town, the minister said. He said their ultimate goal was to open an SPC branch in every electorate in the country.

Dr. Senaratne said that, within the next two years, the importation of drugs would be discontinued. The construction of the eighth local drug manufacturing plant began recently and four factories are functioning at present, he added.

The minister added that the SPC had entered into 38 agreements with the private sector for drug manufacturing, in order to boost local drug productions. He said that Rs.90 billion was spent annually on drug imports.



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