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|19 November, 2017

UAE's Julphar pharma records $23mln in profits for Q3 2017

Saudi Arabia remains the major revenue contributor for Julphar.

RAS AL-KHAIMAH- Julphar Gulf Pharmaceutical Industries announced today revenues of AED992 million for the first three quarters of the year 2017. The company posted an AED86 million net profit for the period.

"Overall, the MENA markets remained challenging for the pharmaceutical industry. Julphar’s management has undertaken cost-saving initiatives and new projects to optimise processes further and consolidate our current market shares. We will continue to launch our new products pipeline while increasing our geographical presence, to fully align towards with our 2020 roadmap," said Jerome Carle, Julphar General Manager.

"Saudi Arabia remains the major revenue contributor for Julphar, despite the current market situation in the Kingdom. At the same time, the UAE operations achieved a solid growth of 16 percent. With steady double-digit growth, the performance of the North African and Levant regions confirms Julphar as a strategic player in the area."

© Copyright Emirates News Agency (WAM) 2017.

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