SLPMA warns Govt. inaction stalls local pharma growth,

• CNL Reporter
• February 17, 2025
• Political
• SLPMA warns Govt. inaction stalls local pharma growth
• 0 Comments

The Sri Lanka Pharmaceutical Manufacturers Association (SLPMA) urged the government to create a level playing field for domestic pharmaceutical manufacturers to compete with imported pharmaceutical products.

SLPMA Chief asserted that domestic pharmaceutical manufacturers are competing with imported pharmaceutical products on an uneven playing field due to taxes imposed on critical packaging material imports required to produce various pharmaceutical products domestically.

However, in contrast, no such taxes are imposed on fully imported pharmaceutical products entering the country.According to SLPMA, a 24 percent tax is imposed on imported packaging materials.

“Although locally produced pharmaceuticals supply 35 percent of the public sector’s demand, they contribute only five percent to the private sector’s demand, mainly due to price competition that favours imports because of the unfair taxation on packaging materials,” SLPMA President Nalin Kannangara said.

The association asserted that local players are well-equipped to compete with imports in both quality and price, but stressed they need a level playing field.