Julphar, a UAE-based producer and distributor of pharmaceutical products, said its sales revenue increased to Dh1.36 billion ($370.7 million) in the year ending December 31, up 15.4 per cent year-on-year (YOY).

The sales during the year were driven by the private market sales which grew by 19.4 per cent, said a statement.

Sheikh Faisal Bin Saqr Al Qassimi, chairman, said: “The UAE is driving forward healthcare expansion at an international level and Julphar is proud to play a significant role in shaping the future of our industry.

“We extend our thanks to our government, customers, board and financial institutions, employees and all other stakeholders for their whole-hearted and continued support and contribution in the success of Julphar.”

The company’s gross profit during the period was Dh820.7 million, up 17.7 per cent, which its operating profit for the year was Dh235.9 million, up 8.6 per cent during the year.

GVG Krishna, CFO, said: “The sales mix has seen some shifts during the year. In the private market segment, while our traditional strongholds Saudi Arabia, the UAE, Iraq and Lebanon have continued to see strong double-digit growth, Kuwait, Oman and Morocco too saw a strong demand for our products. In the tender segment, on the other hand, Libya, Jordan, Ethiopia and Yemen showed strong performance.” - TradeArabia News Service