- Julphar successfully completes its two-year strategic turnaround project by the end of 2021.
- Julphar launches its new transformational growth project to pursue a strategy based on six pillars to drive growth.
- The company is on track to generate revenue growth from its legacy products while diversifying its portfolio with newly developed, acquired and internally licensed products.
- Julphar is developing a highly diversified portfolio of more than 100 products that should generate sustainable growth from 2022 to 2030.
- Julphar plans to enter new territories to create new sources of income.
- Julphar plans to launch inorganic growth initiatives from 2023.
Ras Al Khaimah (UAE): Gulf Pharmaceutical Industries PJSC (Julphar), one of the largest pharmaceutical companies in the Middle East and Africa, announced its 2030 strategy to drive transformation through sustainable growth and deliver increased value to all stakeholders. The announcement came after the company successfully completed one of the region’s most remarkable pharma turnarounds and marked a return to profit in 2021 with robust top line growth.
The 2030 strategy is expected to triple Julphar’s revenues via six central growth pillars: “Maximize revenues from current product portfolio”, “New product launches”, “Geographic expansion”, “Strategic commercial initiatives”, “Product Advanced Specialty” and “In-Organic Growth Initiatives”.
The new growth strategy embodies Julphar’s aspirations to be the leading pharmaceutical company in the MENA region, recognized for its innovative products and value-added medicines. The 2030 strategy is driven by the adoption of new advanced technologies in all Julphar manufacturing plants.
Dr Essam Mohamed, Managing Director of Julphar, said: “In defining our 2030 Strategy today, we are committing to focus our efforts and resources on our priority growth platforms and ongoing projects. Despite enormous challenges and the global pandemic, Julphar has achieved one of the most successful strategic turnaround stories; we have achieved our goals and far exceeded expectations, and we are now entering a defining moment in our transformation journey.
“We are confident that we are well positioned for a bright future by bringing innovative new healthcare solutions into the hands of our patients. To unlock Julphar’s full potential, we must now increase profitability and make bold investments in the best and most innovative treatment areas for the patients and communities we serve,” he added.
As part of Julphar’s growth strategy, the company is working to maximize revenue from its existing products by increasing market share and optimizing cost. Meanwhile, the company is accelerating its preparations to obtain GMP approvals from PIC, ANVISA, WHO and EU so that it can expand its activities in other strategic regions, both for its portfolio of existing products and for those under development.
Julphar remains on track to generate revenue growth from its legacy products and, to unlock additional growth, the company plans to launch more than 100 new products between 2022 and 2030, capitalizing on its in-house R&D, in addition to signing license agreements. with leading pharmaceutical partners and the acquisition of new products.
Based on Julphar’s strategic approach to develop a broad portfolio of bioequivalent generic and biosimilar medicines, the company is strengthening the acceleration of its internal R&D, in order to achieve its vision of building a robust and innovative pipeline that makes a lasting contribution and positive to the communities it serves.
The company also plans to further exploit the advantage of being part of the Ras Al Kamiah business ecosystem, which connects organizations and streamlines procedures as part of a broader strategy to ensure the sustainable development of the emirate, while allowing local and foreign businesses to thrive.
Backed by Julphar’s state-of-the-art manufacturing facilities in the Emirate of Ras Al Khaimah, United Arab Emirates, the company is fully equipped to be the pharmaceutical partner of choice. We have partnered and signed manufacturing contracts with 11 leading companies around the world for technology transfer, secondary packaging and co-development agreements.
The company aims to venture into new well-defined therapeutic areas, including future treatments for oncology, CNS, hormones and immunological drugs. Each therapeutic area is expected to generate sustainable and profitable growth and contribute to shareholder value creation for Julphar through 2030 and beyond.
Julphar will expand its presence in new territories, taking advantage of a significant number of essential market shares in target markets through various fast and efficient market access models.
As part of the 2030 Strategy, Julphar plans to enter new territories and major pharmaceutical regions, including CIS (Commonwealth of Independent States) countries, Turkey, Latin America and Africa, while the company strives to create new sources of income. Julphar is also expanding into vaccine production and biotechnology to further expand its areas of expertise.
Julphar will forge strong strategic partnerships with institutions globally to maximize its market access to increase the market share of its products in different countries, in addition to creating three inorganic growth initiatives in three major pharmaceutical markets, which will greatly contribute to the growth of the company. overall growth strategy.
Julphar continues to explore new alliances and partnerships to support its long-term growth prospects, while launching new products in key therapeutic areas and investing in capital expenditures to improve operational efficiency, driving to a growing market share and an expanded geographical presence. The company will continue to improve the productivity of its divisions, cutting red tape in order to grow the business and serve its patients in the best possible way, while ensuring positive returns for shareholders and investors.
Julphar is one of the largest pharmaceutical companies in the Middle East and Africa, and for more than four decades the company has provided high quality, innovative and affordable healthcare solutions to families around the world. Founded under the leadership of His Highness Sheikh Saqr Bin Mohammed Al Qasimi in 1980, Julphar employs more than 2,400 people and distributes pharmaceutical products in more than 50 countries around the world.
Julphar’s activity is centered on two main business units Julphar Diabetes Solutions and General Medicine Division, which target major therapeutic segments including gastrology, pain management, wound care, antibiotics and cardio-metabolism. Julphar has 12 internationally accredited manufacturing plants in the Emirate of Ras Al Khaimah, United Arab Emirates. In 2012, Julphar became one of the largest insulin producers with its UAE-based biotechnology production unit. For more informationvisit http://www.julphar.net
About Ras Al Khaimah:
Ras Al Khaimah (RAK) is the northernmost of the seven emirates that make up the United Arab Emirates. It is known for its varied landscapes, ranging from 64 km of pristine beaches to terracotta deserts and a towering mountainous backdrop, as well as for its rich history, dating back 7,000 years. It has many archaeological sites, four of which have been shortlisted on the tentative list of UNESCO World Heritage Sites.
Besides its breathtaking natural vistas that have been carved over millennia, the emirate’s Jebel Jais mountain, which is the highest peak in the United Arab Emirates, is home to attractions such as Jebel Jais Flight, the longest zip line of the world at almost 3 km, and 1484 by Puro, the highest restaurant in the UAE, as well as a host of other adventure activities.
In recognition of its range of premium tourism offerings, Ras Al Khaimah has been named the Gulf Tourism Capital for 2021 by the Gulf Cooperation Council – a title it has won for the second consecutive year. Given its safe environment for visitors, the emirate has become the first city in the world to be certified “safe” by Bureau Veritas and the first emirate to receive the “safe travel” stamp from the World Travel and Tourism Council ( WTTC).
Ras Al Khaimah is located at the modern crossroads between Europe, Asia and Africa, with one third of the world’s population less than a four hour flight away, making it an ideal location for businesses wishing to expand in the United Arab Emirates, the Middle East and Africa. and beyond.
The emirate has an economy based on a variety of sectors, such as tourism, business, manufacturing, shipping and transportation services, and natural resources. Each sector accounts for no more than 26% of the emirate’s GDP – a key advantage that reinforces Ras Al Khaimah’s economic flexibility and strength.
For more than a decade, Ras Al Khaimah has consistently been rated in the “A” range by international rating agencies Fitch and Standard & Poor’s. The emirate is home to more than 38,000 companies from 100 countries, representing more than 50 diverse economic fields, all of which benefit from the excellent quality of life offered, the competitive cost of housing and labor, infrastructure – including an international airport and the largest bulk seaport in the region – and its state-of-the-art industrial zones and business parks. Ras Al Khaimah is one of the most diversified economies in the United Arab Emirates.
Ras Al Khaimah is home to 111 schools – 76 public schools and 35 private institutions – including Ras Al Khaimah Academy. Several institutions of higher learning are also based in the emirate, including the American University of Ras Al Khaimah, RAK University of Medical and Health Sciences, and graduate schools of technology. This is in addition to several international universities which have established branches in the emirate, including the University of Bolton and the University of Stirling, both from the UK.
The government of Ras Al Khaimah is at the forefront of digitization and has moved more than 700 services from various government departments to electronic services available online, while the mRAK application offers more than 150 services, ensuring convenience, security and high standards for businesses and the general public.
Ras Al Khaimah is a cultural melting pot, with an estimated population of 0.4 million in 2021, up from 0.345 million in 2015, when 37% of the population were local Emiratis.
With year-round sunshine, a simple business setup and a competitive and affordable cost of living, Ras Al Khaimah is the informed choice for business, lifestyle and travel.
Media contact: Corporate communication, Julphar.
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