Julphar Q1 total sales rise 22.5pc
Ras Al Khaimah, July 11, 2010
Gulf Pharmaceutical Industries (Julphar), one of the largest pharmaceutical companies in the UAE, posted a 22.5 per cent rise in total sales in the first quarter of 2010, compared to the same period last year.
Julphar registered sales revenue of Dh245 million ($66.7 million) during the first three months of this year against Dh200 million during the same period last year.
The company recorded a 91.6 per cent rise in sales of its best selling medicine “adol” during the first quarter of 2010, compared to the same period of 2009. The total sales of adol during the first three months of this year stood at Dh13 million against Dh6.7 million last year.
“We are very pleased with this achievement, and the outstanding increase in adol sales during the first quarter of 2010 was much anticipated due to the availability of our high scale assets, equipment, manpower and good planning. Moreover, adol has already secured a global credibility due to its effectiveness in pain relieving and discomfort elimination,” stated Dr Ayman Sahli, general manager of Julphar.
“adol, which has been recently introduced to the local and regional markets with its new packs, has won the accreditation of the Ministries of Health in over 28 countries over 4 continents,” noted Dr. Sahli adding that adol is manufactured in a fully-computerized plant of Julphar’s that complies with international standards of Finished Pharmaceutical Manufacturing and cGMP.
The company’s profits have surged to Dh45.4 million by the end of March 2010 from a total of Dh40.7 million which was recorded during the first quarter in 2009, with a rise of 12 per cent. This increase in profits comes as an inevitable result after the company has succeeded last year in increasing its scope of product registrations to more than 3,487 products, while spreading its geographic footprint to 45 countries.
Asked about the future plans of Julphar, Dr Sahli said that the company is investing about Dh570 million this year to develop and expand its operational business. An Insulin plant, at a total cost of Dh500 million is being constructed to be the newest addition to Julphar’s chain of pharmaceutical production facilities. The plant is expected to be completed by 2012 and will have the capacity of producing over 50 million insulin injections per year at the end of 2015. Another Dh70 million is also being invested in another plant to produce ointments and creams.
“We are going to expand in regional markets like Yemen, Sudan, Libya, Afghanistan, Iraq and other external markets to meet the increasing demand for our pharmaceutical products,” added Dr Sahli.-TradeArabia News Service