Le Lézard
Classified in: Health
Subject: ACC

Julphar Announces Q2 2019 Results

"We remain cautious in our outlook but we are confident we are taking the right actions to ensure a full recovery," says company's CEO

RAS AL KHAIMAH, UAE, Aug. 16, 2019 /PRNewswire/ -- Julphar, one of the largest pharmaceutical manufacturers in the Middle East and Africa, has announced its second quarter 2019 financial results.

The company reported Q2 2019 net sales of AED 100 million and a net loss of AED 96m.

Jerome Carle, CEO of Julphar, said: "Firstly, I wish to express my gratitude to our shareholders, our employees, our customers and our partners for their continued support.

"Our second quarter performance was disappointing primarily due to continued challenges in Saudi Arabia coupled with unfavorable conditions in some of our key markets. However, we have started a transformation that will make us stronger in the long run.

"We remain cautious in our outlook but we are confident we are taking the right actions to ensure a full recovery and achieve our long term objectives."  

Julphar's revenue was negatively impacted by the Saudi Food & Drug Authority's temporary ban on the export of the company's products to the Kingdom in September 2018. Consequently, the company's management has focused on cost reductions and has taken several actions to strengthen the organization and maximize cash flows.

Earlier, the Company announced the appointment of new executive employees to help guide the company towards profitability and long-term success.

About Julphar

Julphar is one of the largest pharmaceutical manufacturers in the Middle East and Africa and for almost four decades, the company has been delivering high quality, innovative and affordable healthcare solutions to families across the globe. Established under the guidance of His Highness Sheikh Saqr Bin Mohammed Al Qasimi in 1980, Julphar employs more than 5,000 people and distributes pharmaceutical products to more than 50 countries on five continents.

Julphar's business is centered on three core business units ? Julphar Diabetes Solutions, General Medicines and its consumer division, Julphar Life ? which target major therapeutic segments including Gastrology, Pain Management, Wound Care, Antibiotics and Cardio-metabolism.

Julphar has 16 internationally accredited facilities in Africa, Middle East and Asia that produce more than a million boxes of medicine a day. In 2012, Julphar became one of the largest producers of Insulin with its UAE-based Biotechnology production unit based.

For more information, visit http://www.julphar.net.

Chris Goward


These press releases may also interest you

at 11:55
Graduates of Western Governors University's (WGU) Bachelor of Science in Nursing (BSN) Prelicensure program achieved a 96.7 percent pass rate on the National Council Licensure Examination (NCLEX) in 2019, compared with the national average of 91.2...

at 11:50
Burbank, California-based online vape retailer ProVape says the vape industry is bound to feel the impact of the Coronavirus outbreak sooner than expected. With the continuing crisis, the Chinese government is torn between restarting the economy and...

at 11:30
MTF Biologics, a global nonprofit organization that saves and heals lives by advancing tissue and organ donation, transplantation, and research, has awarded over $1.8 million in funding to 12 researchers across the nation through its 2019 Extramural...

at 11:30
Ortho Clinical Diagnostics, a global leader of in vitro diagnostics dedicated to improving and saving lives through innovative laboratory solutions, today announced the launch and availability of the VITROS® XT 3400 Chemistry System, which completes...

at 11:30
The "Human Growth Hormone Market Size, Share & Trends Analysis Report By Application (Growth Hormone Deficiency, Turner Syndrome), By Distribution Channel, By Region, And Segment Forecasts, 2020 - 2027" report has been added to...

at 11:26
OMID Holdings, Inc. , a publicly-traded health and wellness company, has issued a letter to shareholders. The company intends to provide shareholders with insight into its history as well as the current operations and goals for the future. Please...

News published on 16 august 2019 at 05:00 and distributed by: