Gulf Pharmaceutical Industries (Julphar), a UAE-based drug
manufacturer, posted 13.5 percent year-on-year revenue growth to AED630.3m
(US$171.6m) in H1, including a 19.5 percent uptick in tender market sales.
The firm’s profit during the first six months of the year
rose 8.2 percent to AED110.8m, with gross profit up 5.6 percent to AED380.6m.
Julphar registered AED119.1m in private market sales in
Saudi Arabia, AED62.6m in the UAE, AED56.8m in Iraq, AED39.5m in Libya and
AED33.4m in Egypt.
In tender market sales, the company reported AED62.2m in
Saudi Arabia, AED27.8m in Iraq, AED15.6m in Jordan, AED12.8m in Libya and
AED12.6m in Kuwait.
segments such as Endocrine System, Central Nervous System and Respiratory
System have demonstrated the strongest performance and we expect this to
continue until the year-end,” commented Raghu Sarma, head of investments.
Healthcare spend in the Middle East in 2011 was estimated to be US$46.12bn in a recent Frost & Sullivan report, and this is expected to reach US$133.19bn in 2018.
Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.