The UAE based Gulf Pharmaceutical Industries (Julphar) hopes to triple its revenues, penetrating new territories and launching more than 100 new products under its Strategy 2030.

The Strategy 2030 is set to drive transformation through sustainable growth and deliver enhanced value for all stakeholders between 2022 and 2030.

The announcement came after the company successfully completed one of the most remarkable turnaround stories in the region’s pharma sector and marked a return to profit in 2021 with robust top-line growth.

SIX GROWTH PILLARS

Strategy 2030 is set to triple Julphar’s revenues via six central growth pillars - maximising revenue from current product portfolio, new product launches, geographical expansions, strategic business initiatives, advanced specialty products initiative, and inorganic growth initiatives, the company said. 

Julphar plants to adopt new, cutting-edge technologies

The new growth strategy embodies Julphar’s aspirations to be the leading pharmaceutical company in the Mena region, recognised with first-to-market products and value-adding medicines. Strategy 2030 is driven by adopting new, cutting-edge technologies across all Julphar’s manufacturing plants.

Dr Essam Mohamed, Chief Executive Officer of Julphar, said: “We are committed to concentrating our efforts and resources on our priority growth platforms and pipeline projects. Despite the enormous challenges and the global pandemic, Julphar achieved one of the most successful strategic turnaround stories; we have reached our objectives and greatly exceeded expectations, and now we are entering a defining moment in our transformational journey.

“We are confident that we are well-positioned for a bright future by delivering new, innovative healthcare solutions into the hands of our patients. To release Julphar’s full potential, we must now increase profitability and make bold investments in the best and most innovative areas of treatment for the patients and communities we serve,” he added.

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Within the framework of Julphar’s growth strategy, the company is working to maximise the revenue from its existing products by increasing its market share and optimising its cost.

Meanwhile, the company is accelerating its preparations to obtain GMP approvals from PICs, ANVISA, the WHO and EU to be able to expand its business into other strategic regions, both for its existing portfolio of products and for those in the pipeline.

Julphar remains on track to deliver revenue growth from its legacy products, and, to unlock further growth, the company is planning to launch more than 100 new products between 2022 and 2030, capitalising on its in-house R&D, in addition to signing licensing agreements with top-tier pharma partners and acquiring new products.

IN-HOUSE R&D

Based on Julphar’s strategic approach to developing a broad bio-equivalent Generic & Biosimilar drugs portfolio, the company is strengthening accelerating its in-house R&D, in order to achieve its vision to build a robust and innovative pipeline that delivers a sustainable and positive contribution to the communities it serves.

The company also plans to further utilise the advantage of being a part of Ras Al Kamiah’s business ecosystem, which connects organisations and streamlines procedures as part of a wider strategy to ensure the sustainable development of the Emirate, while allowing both home-grown and foreign businesses to thrive. 

Supported by Julphar’s state-of-the-art manufacturing facilities in Ras Al Khaimah, UAE, the company is fully equipped to be the pharma partner of choice. It has partnered with and signed manufacturing contracts with 11 leading companies across the globe for technology transfer, secondary packaging, and co-development agreements.

NEW THERAPEUTIC AREAS

The company is aiming to venture into well-defined new therapeutic areas, including future treatments for oncology, CNS, hormones and immunology drugs. Each therapeutic area is expected to deliver sustainable and profitable growth and contribute to shareholder value creation for Julphar into 2030 and beyond.