Julphar’s Board of Directors meeting held on May 18th, 2017
During the meeting held on May 18th 2017, Julphar Gulf Pharmaceutical Industries’ Board of Directors released the company’s quarterly results and business achievements for the first three months of the year.
The Board discussed the situation in Middle East and North Africa (MENA), impacted by the environment in the Iraqi, Egyptian and Libyan markets, with the company achieving sales amounting to AED 369.3 million with a net profit of AED 44.1 million in Quarter 1.
During the meeting, the development of Julphar’s Vision 2020 was also reviewed. Vision 2020 is the new Julphar’s strategic roadmap, which includes key objectives to stay at the top of the regional market. By 2020, the Emirati company aims to reach more than AED 2 billion sales and rank among the top 3 pharmaceutical companies in the UAE and in Saudi Arabia.
“Despite challenging market conditions and the overall regional situation that are impacting our industry, Julphar is consolidating its market share for the first Quarter,” said Jerome Carle, Julphar’s Acting General Manager and Chief Financial Officer. “Julphar confirmed launches of 34 new products in the region, including the highly anticipated Dandasha, Julphar’s new medicine used in the treatment of erectile dysfunction. And for the first time in our history, we have reached the first position in the UAE market. The company was ranked No.1 pharmaceutical manufacturer in UAE in IMS Health survey, reflecting a sales growth of 11.5% over the last quarter.”