- Julphar launches its new project for transformational growth to pursue a strategy focusing on six pillars to drive growth.
- The Company is on-track to deliver revenue growth from its legacy products while also diversifying its portfolio through newly in-house developed, acquired and licensed products.
- Julphar is developing highly diversified pipeline of more than 100 products to be expected to drive sustainable growth from 2022 till 2030.
- Julphar plans to penetrate new territories to create new revenue streams.
- Julphar plans to initiate an in-organic growth initiatives starting in 2023.
Ras Al Khaimah (UAE): Gulf Pharmaceutical Industries PJSC (Julphar), one of the largest pharmaceutical companies in the Middle East and Africa, has announced its Strategy 2030 to drive transformation through sustainable growth and deliver enhanced value for all stakeholders. The announcement came after the company successfully completed one of the most remarkable turnaround stories in the region's pharma sector and marked a return to profit in 2021 with robust top-line growth.
Strategy 2030 is set to triple Julphar’s revenues via six central growth pillars - “Maximizing Revenue from current Product Portfolio” “New Product Launches,” “Geographical Expansions,” “Strategic Business Initiatives,”, “Advanced Specialty Products Initiative”, and “In-Organic Growth Initiatives”.
The new growth strategy embodies Julphar’s aspirations to be the leading pharmaceutical company in the MENA region, recognized with first-to-market products and value-adding medicines. Strategy 2030 is driven by adopting new, cutting-edge technologies across all Julphar’s manufacturing plants.
Dr. Essam Mohamed, Chief Executive Officer of Julphar, said: “Setting out our Strategy 2030 today, we are committed to concentrating our efforts and resources on our priority growth platforms and pipeline projects. Despite the enormous challenges and the global pandemic, Julphar achieved one of the most successful strategic turnaround stories; we have reached our objectives and greatly exceeded expectations, and now we are entering a defining moment in our transformational journey.
“We are confident that we are well-positioned for a bright future by delivering new, innovative healthcare solutions into the hands of our patients. To release Julphar’s full potential, we must now increase profitability and make bold investments in the best and most innovative areas of treatment for the patients and communities we serve,” he added.
Within the framework of Julphar’s growth strategy, the company is working to maximize the revenue from its existing products by increasing its market share and optimizing its cost. Meanwhile, the company is accelerating its preparations to obtain GMP approvals from PICs, ANVISA, the WHO and EU to be able to expand its business into other strategic regions, both for its existing portfolio of products and for those in the pipeline.
Julphar remains on track to deliver revenue growth from its legacy products, and, to unlock further growth, the company is planning to launch more than 100 new products between 2022 till 2030, capitalizing on its in-house R&D, in addition to signing licensing agreements with top-tier pharma partners and acquiring new products.
Based on Julphar’s strategic approach to developing a broad bio-equivalent Generic & Biosimilar drugs portfolio, the company is strengthening accelerating its in-house R&D, in order to achieve its vision to build a robust and innovative pipeline that delivers a sustainable and positive contribution to the communities it serves.
The company also plans to further utilize the advantage of being a part of Ras Al Kamiah’s business ecosystem, which connects organizations and streamlines procedures as part of a wider strategy to ensure the sustainable development of the Emirate, while allowing both home-grown and foreign businesses to thrive.
Supported by Julphar's state-of-the-art manufacturing facilities in the Emirate of Ras Al Khaimah, UAE, the company is fully equipped to be the pharma partner of choice. We have partnered with and signed manufacturing contracts with 11 leading companies across the globe for technology transfer, secondary packaging, and co-development agreements.
The company is aiming to venture into well-defined new therapeutic areas, including future treatments for Oncology, CNS, Hormones and Immunology drugs. Each therapeutic area is expected to deliver sustainable and profitable growth and contribute to shareholder value creation for Julphar into 2030 and beyond.
Julphar will expand its presence into new territories, availing a significant number of essential market shares in target markets through various fast and efficient market access models.
As part of Strategy 2030, Julphar plans to penetrate new territories and top pharma regions including CIS (Commonwealth of Independent States) countries, Turkey, Latin America, and Africa as the company moves to create new revenue streams. Julphar is also expanding into vaccine production and biotechnology to extend its areas of expertise further.
Julphar will forge robust strategic partnerships with institutions globally to maximize its market access in order to increase its products’ market share in different countries, in addition to creating three in-organic growth initiatives in three major pharma markets, which will greatly contribute to the company’s overall growth strategy.
Julphar continues to explore new alliances and partnerships to support its long-term growth prospects, while also launching new products in core therapeutic areas and investing in capital expenditure to improve operational efficiency, leading to growing market share and expanding geographic presence. The company will continue to drive productivity improvements across its divisions, cutting red tape in order to grow the business and serve its patients in the best way possible, while ensuring positive returns to shareholders and investors.
Julphar is one of the largest pharmaceutical companies in the Middle East and Africa, and for more than four decades, the company has been delivering high quality, innovative and affordable healthcare solutions to families across the globe. Established under the guidance of His Highness Sheikh Saqr Bin Mohammed Al Qasimi in 1980, Julphar employs more than 2,400 people and distributes pharmaceutical products to more than 50 countries across the globe.
Julphar’s business is centered on two core business units – Julphar Diabetes Solutions and General Medicine Division, which target major therapeutic segments including Gastrology, Pain Management, Wound Care, Antibiotics and Cardio-metabolism. Julphar has 12 internationally accredited manufacturing facilities in the Emirate of Ras Al Khaimah, UAE. In 2012, Julphar became one of the largest producers of Insulin with its UAE-based biotechnology production unit. For more information, visit http://www.julphar.net
About Ras Al Khaimah:
Ras Al Khaimah (RAK) is the northernmost of the seven Emirates that make up the United Arab Emirates. It is known for its diverse landscape, from 64km of pristine beaches, to terracotta deserts and an imposing mountain backdrop, as well as its rich history, dating back 7,000 years. It has many archaeological sites, four of which have been shortlisted on UNESCO’s tentative list of World Heritage Sites.
Alongside its breathtaking natural vistas that have been carved out over millennia, the Emirate’s Jebel Jais mountain, which is the highest peak in the UAE, boasts attractions including Jebel Jais Flight, the world’s longest zip line at almost 3km, and 1484 by Puro, the UAE’s highest restaurant, as well as a host of other adventure pursuits.
In recognition of its array of premium tourist offerings, Ras Al Khaimah was named Gulf Tourism Capital for 2021 by the Gulf Cooperation Council – a title it won for the second consecutive year. In light of its safe environment for visitors, the Emirate became the first city in the world to be certified as ‘safe’ by Bureau Veritas and the first Emirate to receive the World Travel and Tourism Council’s (WTTC) ‘safe travels’ stamp.
Ras Al Khaimah is centrally located at the modern crossroads between Europe, Asia and Africa, with one third of the world’s population within four hours’ flying time, making it an ideal location for businesses to expand into the UAE, the Middle East and Africa region and beyond.
The Emirate boasts an economy that is based on a variety of sectors, such as tourism, business, manufacturing, shipping and transportation services, as well as natural resources. Each sector accounts for no more than 26% of the Emirate’s GDP – a critical advantage that enhances Ras Al Khaimah’s economic flexibility and strength.
For more than a decade, Ras Al Khaimah has been consistently rated in the ‘A’ range by Fitch and Standard & Poor’s international ratings agencies. The Emirate is home to more than 38,000 businesses from 100 countries, representing over 50 diverse economic fields, all of which are benefiting from the excellent quality of life on offer, the competitive cost of housing and labor, modern infrastructure – including an international airport and the largest bulk seaport in the region – and its state-of-the-art industrial areas and business parks. Ras Al Khaimah is one of the most diverse economies in the UAE.
Ras Al Khaimah is home to 111 schools – 76 public schools and 35 private establishments – including Ras Al Khaimah Academy. Several Higher Education institutions are also based in the Emirate, including the American University of Ras Al Khaimah, RAK Medical & Health Sciences University and the Higher Colleges of Technology. This is in addition to several international universities that have set up branches in the Emirate, notably the University of Bolton and the University of Stirling, both from the UK.
Ras Al Khaimah Government is driving digitalization and has transitioned more than 700 services from various Government departments into e-services available online, while the mRAK app offers over 150 services, ensuring convenience, safety and high standards for businesses and the general public.
Ras Al Khaimah is a cultural melting pot, with an estimated population of 0.4 million people in 2021, up from 0.345 million in 2015, when 37% of the population were local Emirati.
With year-round sunshine, straightforward business set-up and a competitive and affordable cost of living, Ras Al Khaimah is the informed choice for business, lifestyle and travel.
Media contact: Corporate Communication, Julphar.