Abu Dhabi – Mubasher: Gulf Pharmaceutical Industries (Julphar) is planning to establish its first factory for cancer drugs in Abu Dhabi, Al Ittihad newspaper reported, citing Julphar’s chairman Faisal bin Saqr Al Qasimi.
The company also plans to enter the Kuwaiti market by establishing a drug plant there, Al Qasimi told the newspaper, noting that this follows the opening of the company’s plant in Saudi Arabia.
Julphar’s sales are expected to reach AED 1.5 billion in 2017, he added.
The UAE pharmaceutical industries firm, which has over 200 medicinal products under its umbrella across the MENA region, last reported sliding profits by 44.2% to reach AED 44.1 million in the first quarter in 2017, compared to AED 79 million in Q1-16.
