The firm has launched several products in recent months and is set to start operations at its new Saudi plant, which will significantly enhance its market influence
As much as 84 per cent of sales of UAE pharmaceuticals producer Julphar come from export markets, the company has revealed.
Sales amounted to Dh1.47 billion ($400.11 million) in 2015, up 6 per cent compared with the previous year. Net profit was Dh226.65 million, a 12.2 per cent surge over 2014, it said at the annual general meeting held at the company’s headquarters in Ras Al Khaimah.
Saudi Arabia was the largest market in terms of sales, contributing 35 per cent of the total with Egypt, Iraq and Lebanon accounting for 9 per cent, 8 per cent and 5 per cent respectively. The UAE pitched in 16 per cent.
“In the middle of the political crisis that affected some countries, Julphar maintained its stability and its commitment, at the same time raising Julphar’s reputation for pharmaceutical preparations that are respected in more than 40 countries around the world,” said Sheikh Faisal bin Saqr Al Qasimi, chairman of Julphar.
Chief executive Dr Ayman Sahli remarked: “Closing the year 2015 at Dh1.47 billion shows a remarkable effort from Julphar’s employees and sales team, and highlights true dedication from our staff all around the world. We will keep on working hard to deliver our mission to provide high-quality, affordable medicines to communities, as this is – and will remain – at the core of our business strategy.”
The company, the largest generic pharmaceuticals producer in the Middle East, remains highly optimistic of growth. Its Saudi Arabian factory will begin producing before the end of 2016, making it the third Julphar plant outside the UAE after the Ethiopian and Bangladeshi facilities. Thirteen of its facilities are based in the UAE and cover production areas including tablets, syrups and suspensions
One of the highlights of recent months was the launch in Egypt of Enoxirt, the injectable antibiotic for moderate to severe infections, mainly respiratory.
Dr Hosam Badr, marketing director of Julphar, told a conference in Sharm El Sheikh: “Enoxirt illustrates Julphar’s commitment to contribute to better healthcare, and will help us maintain and settle our presence in the big and challenging Egyptian market.”
Enoxirt (Ceftriaxone) is one of the top-selling Julphar products, commercialised in the UAE and in other markets under the name of Triaxone. Registered in 18 countries, Enoxirt/Triaxone is the market leader in Saudi Arabia and Lebanon and has a proven and long-trusted medical history in the healthcare industry, having been successfully distributed in the Mena region for many years.
Earlier this year, Julphar launched its new products for asthma and allergy care, Xaira and Rinelon. They are the second and third products of Merck Sharp & Dohme (MSD) following the commercialisation weeks earlier of the anti-inflammatory medicine Turox – all of them as part of the Julphar/MSD second brands agreement.
Late last year, Julphar introduced the glucose monitoring device Dexcom G4 Platinum, in several Gulf states.
In November it celebrated the success of Julphar Diabetes’ human insulin and insulin glargine.
“Diabetes is one of the key focus therapeutic areas for Julphar and we are committed to continue our investments in biotechnology and bio-similar insulins from raw materials to finished products,” said chairman Sheikh Faisal. The company considers its insulin and glargine as a game-changing therapy for insulin-dependent diabetes sufferers.
The company has a facility for the production of human insulin and insulin analogues.