Julphar achieves Dh641m in total sales in FY 2006

RAS AL KHAIMAH — The Gulf Pharmaceutical Industries (Julphar) has achieved Dh 641 million in total sales during the financial year 2006 with 18 per cent increase compared to 2005. The company's sales to the private sector have increased by 35 per cent during the same period. „ "This is a substantial increase that helps to consolidate our position as a leading pharmaceutical manufacturer worldwide," Abulrazaq Yousif, Julphar's Managing Director, said at the company's agents conference.

By Sadiq A Salam

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Published: Fri 8 Sep 2006, 10:15 AM

Last updated: Sat 4 Apr 2015, 4:18 PM

He also pointed out that around 30 of the company's 480 products and formulas have registered phenomenal sales in the targeted areas.

"This indicates that the our products are winning acclaim among specialists as well as end-users worldwide," he added. Around 20 agents from GCC countries, Middle East, Arab countries, Asia and Europe get together in the three-day event to exchange views and methods on the future plans to increase the company's sales and promote its products throughout their respective countries. Yousif also pointed out that the company's future expansion plans include the construction of seven new factories in the UAE. "The initial investment is of Dh 700 millions. Plants will produce different medicines and formulas," he said. This is in addition to establishing factories in other countries like Sudan, Morocco, Bangladesh and Afghanistan," he added.

The company's Extraordinary General Assembly Meeting has recently decided to issue 537,760,000 new shares, with the total cost of Dh 1 for each share and Dh0.75 issuance fees, to increase the its total paid up capital to Dh1 billion.

"Julphar products have a strong market presence in our country due to their quality and affordable prices keeping in mind that we import medicines from 150 companies in different countries like Germany, US, China, India, North Korea, Iran and the UK," Zalmai Atifi, the General Manager of Afghan Pharma Holding Group, the Agent of Julphar in Afghanistan, told Khaleej Times on the sidelines of the event. He also pointed out that Julphar has around 145 formulas registered in Afghanistan, mainly antibiotics and multivitamins. "We are also working hard to increase this list throughout the coming years," he added. The official also pointed out that plans have been formulated to increase the company's sales in Afghanistan from $ 3 millions as it was in the year 2005 to $5 million during the coming year.

"Julphar was the first and only non-European or non-American country to have registered medicines in Lebanon," Dr. Gassan Al Ameen, Julphar's agent in Lebanon, told Khaleej Times. He attributed this to the high quality of its medicines that exceeds the products of the developed countries. Ssome of them are FDA-registered besides other European registrations. He also added that the company is working hard to increase its sales in Lebanon by 45 per cent by the next year.

The event was attended by Shaikh Faiysal bin Saqr Al Qasimi, Chairman of Julphar's Board of Directors along side a number of officials from the company.

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