Ras Al Khaimah, United Arab Emirates: (AETOSWire)- Julphar, one of the largest pharmaceutical manufacturers in the Middle East and Africa, has been ranked as the number one pharmaceutical company in the UAE by IMS Health February 2018 panel, reflecting a strong double digit sales growth versus 2017.
Julphar 2017 audited results were announced following a Board of Directors’ meeting, which was chaired by His Highness Sheikh Faisal Bin Saqr Al Qasimi, Chairman of the Board of Julphar.
Jerome Carle, General Manager of Julphar, said, “Firstly, I wish to express my gratitude to our shareholders, our 5000 employees across the world, our customers and our partners for their continued support.
“We are off to a strong start in 2018. We have reached the number one position in the UAE, our new management team is now fully on board and we have just launched several new products in key therapeutical area such as cardiovascular.
“Furthermore, our expansion plans are on track, particularly in Saudi Arabia and Africa, where we are making inroads in a number of key markets. We are building up a solid pipeline with the planned launch of 25 new products in the UAE this year alone and almost 200 new product registrations expected in the region.
“Given the momentum we are seeing in our new products and recent launches, the operating performance improvements we are driving, we are confident in our ability to deliver our 2018 outlook of double digit growth.”
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. Last month, Julphar Saudi Arabia was granted Current Good Manufacturing Practice (cGMP) approval by the Saudi Food and Drug Authority (SFDA).