UAE-based Julphar Gulf Pharmaceutical Industries, a leading generic pharmaceutical manufacturer in Middle East and North Africa (Mena) region, has reported sales revenue of Dh1.066 billion ($290.2 million) in the first nine months of this year.

The company posted a gross profit of Dh622.9 million ($169.5 million) and its net profit for the period was Dh157.2 million ($42.8 million), said a statement from the company.

Dr Ayman Sahli, chief executive officer at Julphar, said: “The Saudi and UAE markets contributed 56 per cent of the sales for the given period."

Overall, the growth in the Mena markets has been quite slow for the period, which impacted the company's sales, he said.

“In current challenging environment, our company’s management has taken steps to reduce cost, like Opex Control to enhance profitability, and that resulted in better savings compared to the previous year,” he added. – TradeArabia News Service