Huge profits recorded

Nadira Gunatilleke

The State Pharmaceutical Manufacturing Corporation (SPMC) has recorded a profit of Rs.2204.7 billion (23.54 percent) in 2009 and this is the highest profit it recorded during past four years, Healthcare and Nutrition Ministry spokesman said.

According to the spokesman the SPMC recorded a profit of Rs.1399.6 billion (15.72 percent) in 2008 and it was Rs. 985 billion (18.45 percent) in 2007. The profit earned by the SPMC in 2006 is Rs. 398 billion (9.69 percent). SPMC exports drugs to Papua New Gunea and Fiji. Its annual exports are worth Rs 25 million.

The company has increased its human resources from 171 to 225 during the past four years and also increased the machinery capacity. The SMPC is a gift received by Sri Lanka from Japan, he said.

Annually Japan buys drugs worth Rs 25 million from the SPMC.