Kylemed pharmaceutical lab invests US$25mil for laboratory

By GYNNIE KERO
PRIME Minister James Marape says the country will soon be able to manufacture its own pharmaceutical medicines and supply neighbouring nations.
He made the comment following a recent ground-breaking ceremony for a US$25 million (K84mil) pharmaceutical lab to be built outside Port Moresby.
Marape welcomed the investment by Kylemed Pharmaceutical Laboratories PNG Ltd who had chosen to involve the local community in the ceremony.
Kylemed is a pharmaceutical group of companies producing a wide range of medicines trusted in the Philippines.
The prime minister thanked the firm, saying it was a timely response “on the current situation where the issue on fake medicine was rampant.”
“Your confidence in my Government and to the country is very much appreciated,” Marape said in a statement.
“Papua New Guinea welcomes legitimate foreign direct investments.
The Government will work with you as long as you abide by the set regulations and standards. We would like you to be our long-term business partners that contributes to the economy of our country.
“I appreciate your US$25 million initial investment.
“My Government will look into tax incentives for companies of a certain capital.
“There has been an outcry by the medical community on lack of medicines and medical supply. We have good, professional medical practitioners but unfortunately they cannot properly deliver to the community.
“Healthcare is a citizen’s basic right and together with my Government, we will continue to bridge with institutions and organisations that have their heart for my people,” he said. “Be rest assured that programmes to change and improve lives in our community will have my 100 per cent support.”