$32 Million Dollar Investment In New Facility

Algeria 14 May 2012 - Gulf Pharmaceutical Industries (Julphar) has laid the foundation stone of its manufacturing plant in Algeria which is being built in partnership with the Algerian Ministry of Health.  The new plant, to be known as Albrat, is located in the capital, Algiers, and will be equipped with state-of-the-art technology enabling production of Julphar products for the local market and further beyond into North Africa.  Julphar will invest $32 million dollars in the construction of the plant which will be completed in 2014.

During a formal ceremony held in the Algerian capital, Sheikh Ahmed Bin Saqr Al Qasimi, representative of the Julphar Board of Directors, along with the Algerian Minister of Health,H.E.Minister Djamel Ould Abbas and Julphar's CEO, Dr Ayman Sahli laid the inaugural foundation stone for the plant.

Speaking at the ceremony, HH Sheikh Ahmed Bin Saqr Al Qasimi, commented: 'We are very excited about this partnership with the Algerian Ministry of Health and the formal laying of the foundation stone is a symbol of the excellent relations enjoyed by our two countries.''

The Algerian Minister of Health, H.E. Minister Djamel Ould Abbas added: 'This is a significant day for Algeria and for the development of the pharmaceutical industry within our nation.  In the UAE Julphar has established itself as a global player in the pharmaceutical arena and has a long and rich heritage within the industry.  For us to work so closely with such a highly regarded industry role model is an excellent platform from which we can begin to liberalize the pharmaceutical sector within Algeria. Not only will we see significant cost benefits for our people when purchasing medicines but the construction of this plant will also generate significant employment opportunities for our people.'

He continued: "We can confirm that the laying of the foundation stone for this project is an important step on the path to the establishment of a new phase in the UAE's active participation with Algeria, which is one of the most important markets in North Africa. We are confident that our joint efforts will benefit all the countries of North Africa and provide a secure and safe environment for the production of pharmaceutical products.'

The Albrat plant, now in the implementation phase of construction, will cover an area of ​​5 000 square meters and is scheduled to be finished by the end of 2014. Production will take place in three stages. The first phase will produce 30 million medicines; the second phase will produce 20 million bottles of intravenous fluids and the third phase will produce 55 million units of injections.

Julphar is a public shareholding company based in Ras Al Khaimah (UAE). It was established in 1980 under the guidance of H H Sheikh Saqr Bin Mohammed Al Qasimi, the Ruler of Ras Al Khaimah, and is currently a leader in the production and distribution of pharmaceutical products in over 50 countries.

Since inception, Julphar remains committed to meeting the needs of an evolving society and playing an instrumental role in global healthcare development.  Its approach to a fast paced market is to focus on strategic initiatives, quality product development and ensuring responsible practices.

Julphar's goal is to create innovative and high-quality products, whilst maintaining a competitive cost. This is achieved through an enhanced organizational structure consisting of ten world-class plants based in the UAE, and a reliable transportation network which covers five continents.

Julphar contains a diverse portfolio of products which targets a large range of major therapeutic segments, including cardiovascular, diabetes, gynecology and other consumer products.

Julphar is well positioned to meet tomorrow's healthcare challenges.

For further information please contact Liz Bamford, The PR Company, 050 551 5971, liz@the-prcompany.com or Samantha Armstrong 050 1582958 samantha@the-prcompany.com

© Press Release 2012