Zydus Sunshine Lifesciences, a joint venture between Zydus Lifesciences Ltd and Sunshine Healthcare, has signed an agreement with the Board of Investment of Sri Lanka to set up a pharmaceutical manufacturing facility in the island nation, according to a regulatory filing on Thursday.
The project involves a phased investment of over USD 20 million.
The facility will be established on a site spanning nearly four acres in the Board of Investment (BOI) zone located in Horana, Sri Lanka.
Commercial operations at the unit are expected to start in 2028, subject to project timelines and relevant regulatory approvals, the company said.
“The investment supports Zydus’ international presence and commitment to expanding access to quality medicines. Local manufacturing is expected to strengthen medicine supply chain resilience and support the availability of essential medicines in Sri Lanka,” the company stated.
Sunshine Healthcare is part of Sunshine Holdings PLC. Both companies had previously announced the formation of the joint venture on June 26, 2026, and the agreement with the Board of Investment of Sri Lanka was signed on October 13, 2026.