Julphar Holds Annual General Assembly Meeting
Julphar, one of the largest pharmaceutical manufacturers in the Middle East and Africa, held its annual General Assembly Meeting on Thursday (April 26) at the company’s headquarters in Ras Al Khaimah.
The meeting was chaired by Julphar’s Chairman, His Highness Sheikh Faisal Bin Saqr Al Qasimi, who expressed his gratitude and appreciation to all the members of the board and the company’s shareholders.
Julphar recorded sales of AED 1,273 million compared to AED 1,454m in 2016. Julphar’s operating profit stood at AED 111m and the net profit for the period was AED 90m. Saudi Arabia, with a contribution of 28 per cent, continued to be the leading market for Julphar’s products during the period.
Jerome Carle, General Manager at Julphar, said: “2017 was a challenging year but we continued to act with resilience and delivered encouraging outcomes. Julphar delivered good results and continued to strengthen its position in key markets, launch new products and deliver cash returns in spite of ongoing challenges in the region.
Carle stressed that Julphar would continue with its current strategy of strengthening its leading positions in the MENA region, building on its strong reputation and long track record of solid performance.
“Julphar has a clear roadmap that will enable the company to capitalize on the opportunities in the pharma market. We have started witnessing some acceleration in the first quarter of 2018, especially in the UAE,” he said.
“We are focusing our efforts on leveraging Julphar’s strong presence in the region to benefit from the solid economic outlook and the growth opportunities available. Our strategy remains on track and we are working on several projects, including acquisitions, to bolster our presence and market share.
“We remain cautiously optimistic in 2018 as it is an important year for the organization on several fronts. Julphar remains well poised for continuous and sustained growth thanks to a robust pipeline, strong R&D capabilities and strategic manufacturing locations,” he added.
Carle expressed his gratitude to the chairman and all the board members for their guidance and thanked the shareholders and employees for their continued support.