The UAE-based Julphar, a leading pharmaceutical company in the region, expects the regional market to improve this year.

“Despite the difficult and uncertain times in the regional economic cycle, overall, the company is expecting improvements in the Mena pharmaceutical markets in 2017,” the company said following a board of directors meeting.

The meeting, chaired by HH Sheikh Faisal Bin Saqr Al Qasimi, reviewed the company’s last year’s performance and future expectations.

Julphar plans a launch a range of new products this year and the optimisation of its operations will support its ambitions to drive sustainable growth, a statement said.

“We are confident in the future and we maintain a positive sentiment,” said Julphar’s chief financial officer Jerome Carle. “The company has delivered another robust performance in 2016, and this year, we are expecting a solid growth of the overall healthcare industry in GCC – which remains a cornerstone of our business. On a local level, our ongoing approach is to continue to work with the UAE authorities. With the increased healthcare expenditure from local governments investing in new hospitals and in the industry in general, we firmly believe 2017 will offer significant growth potentials for healthcare in the country.”

Julphar is the largest generic pharmaceutical manufacturer in Middle East and North Africa (Mena), producing over 200 branded products across its 15 manufacturing facilities. – TradeArabia News Service