Hemas says pharma exports are on the cards
View(s):Hemas Holdings’ subsidiary J.L. Morrison Son and Jones (Ceylon) Plc which will construct a Rs. 2 billion pharma manufacturing plant at the SLINTEC Nano Technology Park in Pitipana, Homagama, is eyeing exports in the longer term, officials said.
While commercial operations are expected to commence in 2019, Trehan Perera, CEO JL Morison told the Business Times that their focus will be therapeutic products. He said enhancing capacity was always on the cards.
“Since this facility will be built to international standards, we have an edge in maybe exporting in the time to come,” he said.
Hemas Holdings’ consolidated healthcare sector revenue in the first nine months grew by 17 per cent to Rs. 14 billion.
Operating profit and earnings grew at 14.6 per cent and 13.5 per cent, to achieve Rs. 1.5 billion and Rs. 964 million respectively. J. L. Morison posted a YoY growth of 6 per cent and operating profit growth of 1.3 per cent for the nine months ended December 31, 2016. Hemas’ Pharma portfolio continued to do well benefiting from new product launches, the company has said adding that they’ll continue to focus more on new product launches to increase its manufacturing presence in
Sri Lanka.
It has exited from the agricultural supply operations which has been part of J. L. Morison for many years.
Hemas is also exploring tying up with a Sri Lankan startup which has developed a body lotion, according to sources in the startup community. But, Mr. Perera said that while Hemas’ routinely explore these opportunities nothing is firmed up on anything that they have explored so far. -(DEC)