PC Pharma, a pharmaceutical importer associated with Rs. 15 billion turnover PC House, has entered into talks with India's Apura Organics, as well as another, Bangladeshi firm, to be its partner in a local drug manufacturing facility. However the outcome of this project is still pending pursuant to negotiations with Sri Lanka's Health Ministry, according to company Chairman S.H.M. Rishan.
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| Chairman S.H.M. Rishan.
Pic by Hasitha Kulasekera |
PC Pharma made Rs. 130 million in profits most recently, a significant growth from its startup investment of Rs. 5 million less than a decade ago. The keynote speaker at this week's Sunday Times Business Club discussion on Entrepreneurship, Mr. Rishan also noted that activated carbon producer Bieco Link, a company recently acquired by his group, had already turned profitable after just four short months since its takeover. This follows years and millions lost as well as union problems faced by the company prior to its acquisition by PC House.
Also, he noted that, despite a number of people advising him against getting into a declining local garments industry, the PC House group had not only ventured into this segment and showed it to be profitable, but had also surmounted one of the major issues faced by even the biggest local players, a lack of adequate labour force, by moving its manufacturing centres to the South, to areas like Koggala, Weligama, Weerawila and Deniyaya.
The club is sponsored by Etisalat and hosted by the Taj Samudra Hotel. Hameedia is the club co-sponsor.
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