Julphar achieves sales amounting to AED 1,066 million with a net profit of AED 157.2 million
Ras Al Khaimah – UAE: Julphar Gulf Pharmaceutical Industries, the largest generic pharmaceutical manufacturer in Middle East and North Africa (MENA), announced sales revenue of AED 1,066 million in the first nine months of the year 2016.
The company posted a gross profit of AED 622.9 million and its net profit for the period was AED 157.2 million.
“The Saudi and UAE markets contributed for 56% of the sales for the given period,” said Dr Ayman Sahli, Chief Executive Officer at Julphar. “However and overall, the growth in the MENA markets has been quite slow for the period, which impacted our sales. In current challenging environment, Julphar’s Management has taken steps to reduce cost, like Opex Control to enhance profitability, and that resulted in better savings compared to the previous year.”
Established in 1980, Julphar is the largest generic pharmaceutical manufacturer in Middle East and North Africa, producing over 200 branded products across its fifteen manufacturing facilities. Julphar’s mission is to offer high quality medicines at affordable prices, and its product portfolio includes: Wound, Anemia and Women Care, Adult Primary Care, Pediatric Primary Care, Gastro Care and Pain Management, Cardiopulmonary Care, and Consumer Care. In 2012 Julphar launched Julphar Diabetes, an Active Pharmaceutical Ingredient (API) manufacturing facility that has the capacity to produce 1,500 kg of recombinant human insulin and insulin analogues crystals (rDNA). Julphar employs approximately 3,000 people around the world and registered sales revenue of AED 1.47 billion in the year ending 2015.