Julphar targets double-digit growth in 2018
Source: AETOS Wire for Julphar , Author: Posted by BI-ME staff
Posted: Wed March 7, 2018 11:00 am

UAE. -- (AETOSWire) -- Julphar reviewed non-audited preliminary financial results for 2017 and forecasts for 2018, following its Board of Directors’ meeting, which was chaired by His Highness Sheikh Faisal Bin Saqr Al Qasimi, Chairman of the Board of Julphar.

Julphar, one of the largest pharmaceutical manufacturers in the Middle East and Africa, recorded sales of AED 1.3 billion for the year ending December 31, 2017, despite the challenging and rapidly changing market environment.

Julphar’s General Manager, Jerome Carle, said, “Firstly, I wish to express my gratitude to the shareholders, colleagues, customers, partners and all the stakeholders of the company for their continued support. In 2017, Julphar faced major challenges, such as currency headwinds, forex shortage, political instability and price cuts.

“However, key milestones have been achieved, including the official opening of our plant in Saudi Arabia, our entry into three highly important markets with large populations – Mexico, Uzbekistan and Sri Lanka – not to mention being ranked number one in the UAE for the first time. We also registered 130 new products last year and signed an important agreement with the Ministry of Health in the UAE to ensure the availability of critical medical supplies during crisis situations.”

“We are off to a solid start in 2018, as evidenced by the successful acquisition of Gulf Inject, new distribution agreements in Africa and Asia, all of which indicate a healthy outlook for the business. We are building up a solid pipeline and we are targeting double-digit growth in 2018 with the planned launches of 25 new products in UAE.

“We aim to increase our impact in the global pharmaceutical industry by enhancing our operations in emerging markets and increasing our presence in Africa.”

In 2017, Julphar opened a manufacturing facility in Jeddah, Saudi Arabia adding to its overseas production bases in Ethiopia and Bangladesh. The SAR 300 million state-of-the-art plant has the capacity to produce 1 billion tablets, 300 million capsules and 30 million bottles of syrups and suspensions per year.-

Earlier this month, Julphar Saudi Arabia was granted Current Good Manufacturing Practice (cGMP) approval by the Saudi Food and Drug Authority (SFDA).

Photo Captions:
1. (above)  Julphar logo
2. (inset)  For illustrative purposes only (File photo)

About Julphar
Julphar, one of the largest pharmaceutical manufacturers in the Middle East and Africa, was established in 1980 under the guidance of His Highness Sheikh Saqr Bin Mohammed Al Qasimi. The company employs 5,000 people and distributes a wide range of products to more than 50 countries on five continents across the globe.

Julphar’s business is centered on three core units – Diabetes Solutions, General Medicines, and its consumer division, Julphar Life. The company’s vast product portfolio target major therapeutic segments including Family Care, Gastrology, Pain and Wound Management, Antibiotic, Cardiovascular and Metabolism.
 
Julphar has 16 internationally accredited facilities in Africa, Middle East and Asia that produce more than a million boxes of medicines a day including tablets, syrups, suspensions, creams and injectables. In 2012, Julphar became one of the largest producer of Insulin with its UAE-based Biotechnology production unit.

For more information, visit www.julphar.net.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: September 17, 2018
UAE. Leading cloud experts chart multi-cloud's trajectory over the next five years; Report also features exclusive qualitative interview input from influential EMEA, global and Middle East-focused cloud experts.
date:Posted: September 16, 2018
UAE. Global demand for mobile data transmissions to grow by 40% Year-on-Year as 5G technology remains hot trend in the GCC.
date:Posted: September 15, 2018
UAE. Organizations are coming to realize that merely a user name and password are not enough to secure their cyber existence. A Zero Trust security approach is increasingly gaining acceptance.
LONDON. The impact of the competitive landscape has been more keenly felt amongst regional reinsurers that lack the scale and diversification of their foreign counterparts, coupled with "following" market practices that restrict their ability to dictate terms.
dhgate