UAE-based pharma Julphar appoints new CEO

UAE-based Gulf Pharmaceutical Industries (Julphar) has appointed Essam Farouk as its new CEO, it announced on Sunday.

He replaces former CEO Jerome Carle, who resigned from the company last year, as it faced mounting troubles after some its products had to be recalled.

Prior to his appointment at Julphar, Farouk was the CEO at Algerian pharmaceutical company, Elkendi, managing the corporation since its inception in 2006. He also served as the CEO for MS Pharma Group and previously worked with GlaxoSmithKline, Sanofi Aventis, T3A Pharma Group and Julphar Germany.

In his new role, Farouk will be leading Julphar’s “transformation programme” evolution, a statement said.

“I am committed to restoring Julphar’s position as a leading regional pharmaceutical company within three years,” he said.

Ras Al Khaimah-based Julphar, one of the largest pharmaceutical manufacturers in the Middle East and Africa, employs more than 3,500 people and distributes pharmaceutical products to more than 50 countries.

However, the Abu Dhabi-listed company was forced to cut about 150 jobs, or 3 per cent of its workforce last year as part of a restructuring, Bloomberg reported.

In September 2018, Saudi Arabia’s Food and Drug Authority banned Julphar’s products for failing to meet regional standards and the company has been working with the kingdom since then to get the ban lifted.

Read: Saudi halts import of some drugs from UAE’s Julphar