Access Medical Tracers inks US $ 6.5mn BOI agreement to launch SL’s first radiopharmaceutical plant

Access Medical Tracers (Pvt.) Ltd has signed a US $ 6.5 million agreement with the Board of Investment (BOI) to establish Sri Lanka’s first-ever radiopharmaceuticals manufacturing facility. 

This landmark project, a public-private partnership, is set to revolutionise cancer care in the country by producing a critical compound for early and accurate diagnosis.

The joint venture brings together Access Engineering PLC, Access International, the Sri Lanka Atomic Energy Board and Health Ministry. 

The state-of-the-art facility will produce fluorodeoxyglucose (FDG), a vital radioactive tracer used in positron emission tomography (PET) scans, which are crucial for detecting cancer at its earliest stages.

This initiative addresses a critical gap in Sri Lanka’s healthcare system. With over 37,000 new cancer cases diagnosed annually, the country has struggled with a low rate of early detection. Currently, only about 2,000 of the 30,000 new patients detected each year undergo the PET scans, primarily due to the high cost and logistical challenges of importing FDG from India.

In a recent interview, Access Engineering Executive Vice Chairman Christopher Joshua highlighted the current predicament.

“When you import a 100 percent potent product from India, by the time it’s delivered to a hospital, it has maybe 25 percent of the potency,” he explained. 

This rapid decay not only reduces diagnostic accuracy but also limits the use of the existing PET scanners in the country.

The local production of FDG will ensure a consistent supply of high-potency, affordable isotopes, making advanced diagnostic scans more accessible to thousands of patients. This will enable doctors to detect cancer much earlier, significantly improving treatment outcomes and survival rates. 

“The survival rate also drops because the early detection is not there because we don’t have the raw material and facilities. So, it’s a huge need,” Joshua stated.

Leveraging its core expertise, Access Engineering is managing the construction of the facility, which is slated to be commissioned by early next year. The project also holds export potential, with the Maldives already making inquiries to source the medical isotopes once production commences. 

(NF)