Julphar’s Board of Directors, chaired by His Highness Sheikh Faisal Bin Saqr Al Qasimi, met on January 26th to review the company’s last year performance and future expectations. The Board expressed its satisfaction and reported a positive outlook for 2017.
Despite the difficult and uncertain times in the regional economic cycle, overall, the Emirati company is expecting improvements in the MENA pharmaceutical markets in 2017. Julphar’s pipeline of new products is planned to be launched this year and the optimization of its operations will support its ambitions to drive sustainable growth.
“We are confident in the future and we maintain a positive sentiment,” said Julphar’s Chief Financial Officer Jerome Carle. “The company has delivered another robust performance in 2016, and this year, we are expecting a solid growth of the overall healthcare industry in GC – which remains a cornerstone of our business. On a local level, our ongoing approach is to continue to work with the UAE authorities. With the increased healthcare expenditure from local governments investing in new hospitals and in the industry in general, we firmly believe 2017 will offer significant growth potentials for healthcare in the country.”
Further details on Julphar’s outlook will be shared with the release of the full year earnings report, which will be communicated during Q2 2017.
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, a 150 million-dollar 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. For more information, please visit http://www.julphar.net.
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