Julphar Hosts the Minister of Health for Discussions on the Latest in Biotechnology and Insulin Production

Source: News Source

Julphar is the Largest Medicine Producer in the Middle East

June 24 2013 – UAE pharmaceutical leader Julphar (Gulf Pharmaceutical Industries) today received the Minister of Health, HE Abdul Rahman Mohammed al Awais at the Julphar head office in Ras Al Khaimah, to discuss the latest in Biotechnology and development of the regional healthcare platform.

Julphar Chairman, Sheikh Faisal bin Saqr Al Qasimi welcomed the Minister and MOH Dignitaries on a tour of its insulin manufacturing facility, the only kind in the MENA region. “The UAE is driving forward healthcare production expansion across the Middle East and Julphar is proud to play a significant role in shaping the future of the industry. We extend our thanks to the Ministry for its support in the endeavor,” said HH Sheikh Faisal bin Saqr Al Qasimi.

Speaking after the facility tour, Julphar CEO Dr Ayman Sahli said, ‘’we are deeply honored to meet with the Minister today. Julphar is proud to have become the largest UAE manufacturing company in the Middle East, therefore it is important to work closely with the MOH and other Governing bodies to ensure continued development of a quality healthcare platform.’

Julphar is currently the largest local pharmaceutical company in the Middle East, with a reported sales revenue of AED 330.2 million in Q1 of 2013, up 6.5% year-on-year (yoy). Sales during the quarter were driven by private market sales, which saw a yoy growth of 22.2%. Julphar is the largest medicine producer in the Middle East, with 1.1 million boxes of medicine produced daily. As a country, the UAE is one of the largest for medicine production in the Arab World.

Currently, the global Biotechnology industry is one of the greatest sources of innovation available today however Julphar is one of the few companies in the Arab World investing in Biotechnology to pioneer pharmaceutical production. They have diversified from conventional medicine production into Biosimilars (raw material production), which has subsequently positioned them one of the largest producers of Insulin in the world.

In 2012, Julphar opened a $150m insulin production facility. The plant is built in accordance with the latest EMEA regulations, utilizing the best available technologies in the market to comply with the latest international quality standards, making it one of the most modern bio-technological plants designed for producing insulin crystals. Production capacity is around 40 million vials of insulin per year.