Zydus Lifesciences Limited has announced the formation of a joint venture, Zydus Sunshine Lifesciences (Private) Limited, with Sunshine Healthcare Lanka Limited. The JV, with an investment commitment of over USD 20 million, will establish a pharmaceutical manufacturing facility in Sri Lanka. This initiative aims to strengthen local production, improve access to quality medicines, and reinforce Zydus’ commitment to the Sri Lankan market.
Strategic Joint Venture Announced
Zydus Lifesciences Limited, a prominent global life sciences company, has officially entered into a strategic joint venture with Sunshine Healthcare Lanka Limited. This partnership will operate under the name Zydus Sunshine Lifesciences (Private) Limited. The primary objective of this venture is to establish a state-of-the-art pharmaceutical manufacturing facility in Sri Lanka, with an initial investment commitment exceeding USD 20 million.
Strengthening Pharmaceutical Manufacturing
The new facility, to be located in the BOI zone in Horana, Sri Lanka, will focus on manufacturing pharmaceutical products for the Sri Lankan retail market. This move is expected to significantly improve local access to quality medicines, reduce import dependence, and bolster national supply chain resilience. The collaboration combines Zydus’ global manufacturing expertise with Sunshine’s established local market presence and distribution capabilities.
Investment and Operational Details
The joint venture is set to build local manufacturing capabilities, support technology transfer, and create employment opportunities in Sri Lanka. The facility will be developed on nearly four acres of land. The foundation stone for the project was laid on June 26, 2026, marking the formal commencement of the project. Zydus Sunshine will be a 50:50 joint venture between Zydus Lifesciences and Sunshine Healthcare Lanka.
Future Outlook and Collaboration
This partnership signifies a strategic investment in Sri Lanka’s healthcare security and industrial growth. Both companies aim to enhance local pharmaceutical manufacturing, create skilled employment, and improve access to essential medicines for consumers. The project will operate under the oversight of the Board of Investment and comply with Sri Lankan regulatory frameworks.
The agreement involves Zydus subscribing to 50% of the total paid-up equity share capital of Zydus Sunshine. The Board of Zydus Sunshine will comprise six directors, with three appointed by each partner. Zydus will appoint the Chairperson, who will hold a casting vote on all matters except reserved ones.
Source: BSE
