J.L.Morison to invest US $ 13.5mn in new pharma research, manufacturing plant

J.L. Morison Son & Jones (Ceylon) PLC, the pharmaceutical manufacturing and marketing arm of diversified Hemas group said, it is investing US $ .13.5 million or over Rs.2 billion in constructing a new pharmaceutical manufacturing plant.
The research and manufacturing facility will be located within the SLINTEC Nano Technology Park in Pitipana, Homagama.
The company said the proposed plant will significantly enhance the manufacturing capacity of the company while complying with global regulatory standards.

Commercial operations of the facility are expected to commence in 2019.
The company however did not mention how the funding will be raised for the facility’s construction.
For the nine months ended December 31, 2016, J.L. Morison made net profit of Rs.339 million against a net profit of Rs.281 million reported in the same period, 
last year.