📈 Zydus-Sunshine JV to Invest >US$ 20 Mn in Horana Pharma Plant

• Investment & Agreement: Indian life sciences major Zydus Lifesciences Ltd. and Sri Lanka’s Sunshine Holdings PLC have formed a joint venture, Zydus Sunshine Lifesciences Ltd., signing an agreement with the Board of Investment (BOI) to invest >US$ 20 Mn in a manufacturing plant in Horana (nearly 4-acre site). • Operations & Focus: Commercial operations are targeted for 2028 (subject to regulatory approvals and timelines). Initial phase focuses on producing oral solid dosage medicines for the domestic market to reduce reliance on imported pharmaceuticals and enhance local supply-chain resilience. • Employment & Tech Transfer: Over 80% of the workforce will comprise Sri Lankan nationals, supported by specialized training to build local expertise in high-value pharmaceutical production, quality assurance, and scientific functions. • Market Impact: Combines Zydus's international manufacturing capabilities with Sunshine's local healthcare distribution network. Import substitution impact will depend on production capacity and product range once operational.