Julphar sales increase 15% on private market

2014-02-24

Julphar registered sales revenue of Dh1.36 billion in the year ending December 31, 2013, up 15.4 per cent year-on-year. Sales during the year were driven by the private market sales which saw a year-on-year growth of 19.4 per cent.

Julphar chairman, Sheikh Faisal bin Saqr Al Qassimi said: “The UAE is driving forward healthcare expansion at an international level and Julphar is proud to play a significant role in shaping the future of our industry. As the first and largest Emirati pharmaceutical company, we are positioned to help create a truly global platform for quality healthcare. We extend our thanks to our government, customers, board of directors and financial institutions, employees and all other stakeholders for their whole-hearted and continued support and contribution in the success of Julphar.”

The company continued to show robust operational performance during 2013. Gross profit during the period was Dh820.7 million, up 17.7 per cent year-on-year. Operating profit for the year, on the other hand, was Dh235.9 million, up 8.6 per cent year-on-year. Operating profit margin during the period was a robust 17.3 per cent. Profit for the year was Dh230.4 million, up 14.9 per cent year-on-year.

GVG Krishna, CFO, Julphar, said: “2013 has been another great year for the company. The sales mix has seen some shifts during the year. In the private market segment, while our traditional strongholds KSA, the UAE, Iraq and Lebanon have continued to see strong double-digit growth, Kuwait, Oman and Morocco too saw a strong demand for our products. In the tender segment, on the other hand, Libya, Jordan, Ethiopia and Yemen showed strong performance.”

The Julphar manufacturing network consists of twelve world-class production facilities (with further expansion planned) and a reliable logistics network which spans five continents.

Their diverse product portfolio contains over 800 products and targets major therapeutic segments including endocrinology, anti-infective, cardiovascular and gastroenterology, over-the-counter, nephrology, dermatology, respiratory, metabolic and burn and wound management. In 2012, Julphar became the only company in the Middle East to produce the raw material needed to make insulin, through the launch of a division entirely dedicated to Diabetes.

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