21 January 2008
The UAE-based Gulf Pharmaceutical Industries (Julphar) plans to spend about $406 million for expansion projects in seven countries including Yemen over the next three years.
The Yemeni Economic Corporation (YECO) and Julphar Gulf Pharmaceutical Industries Company signed an agreement in November 2007 under which Julphar Gulf Pharmaceutical Industries will invest in the expansion of the medicinal production of the Yemen Drug Company for Industry and Commerce (YEDCO). The plan envisions new product lines and the marketing of YEDCO's products into African countries.
Julphar Gulf Pharmaceutical Industries would also implement training for YEDCO and the Ministry of Public Health and Population at pharmaceutical plants and laboratories in the United Arab Emirates.
Presently, seven pharmaceutical plants in Yemen supply only four percent of the total domestic consumption of medicines. Yemen imports the remaining 96 percent from over 300 international drug companies.
The expansion plans include establishing facilities in Yemen, Afghanistan, Sudan, Morocco, Lebanon, India and Iran during 2008-2010. Julphar Gulf Pharmaceutical Industries will invest 15 percent of every joint project to be established with a local partner in each country.
Last month, the company unveiled that it plans to establish drug stores across the Middle East and North Africa in cooperation with Global Investment House, the largest investment bank in Kuwait.
The UAE-based Gulf Pharmaceutical Industries (Julphar) plans to spend about $406 million for expansion projects in seven countries including Yemen over the next three years.
The Yemeni Economic Corporation (YECO) and Julphar Gulf Pharmaceutical Industries Company signed an agreement in November 2007 under which Julphar Gulf Pharmaceutical Industries will invest in the expansion of the medicinal production of the Yemen Drug Company for Industry and Commerce (YEDCO). The plan envisions new product lines and the marketing of YEDCO's products into African countries.
Julphar Gulf Pharmaceutical Industries would also implement training for YEDCO and the Ministry of Public Health and Population at pharmaceutical plants and laboratories in the United Arab Emirates.
Presently, seven pharmaceutical plants in Yemen supply only four percent of the total domestic consumption of medicines. Yemen imports the remaining 96 percent from over 300 international drug companies.
The expansion plans include establishing facilities in Yemen, Afghanistan, Sudan, Morocco, Lebanon, India and Iran during 2008-2010. Julphar Gulf Pharmaceutical Industries will invest 15 percent of every joint project to be established with a local partner in each country.
Last month, the company unveiled that it plans to establish drug stores across the Middle East and North Africa in cooperation with Global Investment House, the largest investment bank in Kuwait.
By Mohammed al-Kibsi
© Yemen Observer 2008
