UAE-based Julphar Gulf Pharmaceutical Industries, a leading pharmaceutical manufacturer in the Middle East and North Africa (Mena) region, has posted sales amounting to Dh369.3 million ($100.5 million) in the first quarter of this year.

The company also posted a net profit of Dh44.1 million ($12 million) in the first quarter of this year.

During the meeting held earlier this month, the board also discussed and reviewed the development of Julphar’s Vision 2020, said a statement from the company.

Vision 2020 is the new Julphar’s strategic roadmap, which includes key objectives to stay at the top of the regional market, it said.

By 2020, the Emirati company aims to reach more than Dh2 billion ($544.4 million) sales and rank among the top three pharmaceutical companies in the UAE and in Saudi Arabia, it added.

Jerome Carle, Julphar’s acting general manager and chief financial officer, said: “Despite challenging market conditions and the overall regional situation that are impacting our industry, our company is consolidating its market share for the first quarter.”

“We have confirmed launches of 34 new products in the region, including the highly anticipated Dandasha, our new medicine used in the treatment of erectile dysfunction,” he said.

“Also for the first time in our history, we have reached the first position in the UAE market. The company was ranked No.1 pharmaceutical manufacturer in UAE in IMS Health survey, reflecting a sales growth of 11.5 per cent over the last quarter,” he added. – TradeArabia News Service