Published: 28 November 2007

Julphar plans new firm to run pharmacies

BY ADNAN UKASHAH

RAS AL KHAIMAH-based Gulf Pharmaceutical Industries (Julphar) has unveiled a plan to set up three new factories for producing raw materials for the first time in the Arab world.

The raw materials will be used in pharmaceutical industries with an aim to meet the needs of the company's factories and covering the raw material deficit of the national and Arab medicine industry.

Following a meeting with the people in charge of distributing the company's products and Julphar's marketing directors in different countries, Abdul Razzaq Yousuf, Julphar CEO, said the company was currently in the process of setting up the three new raw material factories inside and outside the country.

He emphasised that the company had already started building seven new factories that were previously announced as part of its strategic plan. The factories are planned to be built in Sudan, Yemen, Morocco and Afghanistan.

Yousuf said Julphar would set up a joint-stock company that would be charged with establishing and managing a number of pharmacies in a number of Arab countries with a capital of Dha900 million. Julphar is going to own 40 per cent of the capital of the new company.

He pointed out that Julphar's strategic plan for the coming three years would focus on raising the company's sales to Dhs2.25 billion and opening new markets for its products before enhancing its position as the largest medicine producer in the Arab world.

Julphar is currently producing 375 different compounds for the treatment of various medical cases.