Ras Al Khaimah based Julphar Gulf Pharmaceutical Industries (Julphar), the largest generic pharmaceutical manufacturer in Middle East and North Africa (MENA), announced sales revenue of AED639mn ($173.97mn) in the first semester of this year. The company also revealed a net profit of AED64mn ($17.42mn) for the same period.
Sheikh Faisal Bin Saqr Al Qasimi, chairman at Julphar, said: We are very proud of the success we have achieved since the beginning of the year. Dandasha has been launched during Q1 in the UAE to treat erectile dysfunction in adult men and by Q2, it has become a leader in its segment.
He further added: And our flagship product Mebo is still leading the Saudi market. Furthermore the company has kept its leading position in the UAE by achieving a robust double digit growth in Q2,
Al Qasimi also mentioned that despite the tough conditions impacting the pharmaceutical market in Saudi Arabia and currency headwinds in Egypt, good results were actually achieved in the (MENA) region, where the market has steadily improved during the second quarter. Julphar has registered 34 new products in the first half of this year.