• Performance boosted by significant progress in GCC and North Africa, says General Manager
  • Julphar continuing to strengthen financial position

Ras Al Khaimah (UAE) – Julphar, one of the largest pharmaceutical manufacturers in the Middle East and Africa, delivered solid financial results for the first half of 2018 as it continues to strengthen its financial position.

The company reported first half 2018 sales of AED 558 million ($152m) and a net profit of AED 48m ($13m), after implementation of new Accounting Standard IFRS 9 and IFRS 15.

Jerome Carle, General Manager of Julphar, said: “The first half of 2018 was a busy but very productive period. We saw an acceleration of our revenue in the Levant region in the second quarter and continue to improve on last year’s performance. Our subsidiaries, led by GCC and Egypt, are also delivering strong performances locally.

“We have made significant progress in North Africa by delivering strong results in Libya and Morocco. Our strong performance is the result of a clear vision and the decisions we have taken in the last year.

“We have also divested several non-strategic assets in Q2, which will improve our cash-flows and help us to be more focused on our core business.”

Earlier, it was announced that Julphar had been ranked as the number one pharmaceutical company in the UAE, reflecting a strong double digit sales growth versus 2017. This year, the company plans to launch 25 new products in the UAE and register 200 new product in the region.

Continued investment in its pipeline and expansion in key markets is what Carle believes will keep Julphar on track to return to sustainable growth in line with its targets.

“We have just launched several new products in key therapeutic area such as cardiovascular and our expansion plans are on track, particularly in Saudi Arabia and Africa, where we are making inroads in a number of key markets,” he added.

“We aim to achieve industry-leading growth by investing in our business, developing our people and continuing to deliver high quality products. Our balance sheet looks stronger as we continue to reduce our long term debts and manage our working capital position.

-Ends-

About Julphar 

Julphar is one of the largest pharmaceutical manufacturers in the Middle East and Africa and for almost 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 5,000 people and distributes pharmaceutical products to more than 50 countries on five continents.

Julphar’s business is centered on three core business units – Julphar Diabetes Solutions, General Medicines and its consumer division, Julphar Life – which target major therapeutic segments including Gastrology, Pain Management, Wound Care, Antibiotics and Cardio-metabolism. Julphar has 16 internationally accredited facilities in Africa, Middle East and Asia that produce more than a million boxes of medicines a day. In 2012, Julphar became one of the largest producers of insulin in the world.

For more information, visit http://www.julphar.net 

For media enquiries, please contact:

Chris Goward

Julphar

Corporate Communications

T +971 7 246 1461 | M +971 58 263 3997

Email: chris.goward@julphar.net 

© Press Release 2018

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