Mumbai, Dec. 4 (PTI): Cadila Pharmaceuticals is setting up a major bio-medical research and development centre for producing life-saving vaccines in Sri Lankan capital Colombo at a cost of $2 million.

“It is a big project which will focus on manufacturing vaccines for life-threatening diseases like HIV, Hepatitis B, Hepatitis C and other communicable diseases, mainly to provide them at affordable costs,” Cadila joint vice-president (finance) Vembu S said.

The project, involving 200 scientists, will cost around $2 million, of which Cadila has invested one-third of the sum on training the staff, technology transfer from Europe and infrastructure development.

“We expect a revenue of $20 million from the fourth year of commercial operations. It would be primarily an export-oriented centre. While 80 per cent of the medicines produced from here will be exported, the remaining will be for domestic consumption,” Vembu said.

India is also a major target for exports from this centre. “Since the cost of manufacturing and exporting from Sri Lanka will be less, the cost of life-saving vaccines will be more affordable to India, which has many financially weak people in dire need of these vaccines,” he added.