UAE’s Julphar to launch over 100 new products as part of its Strategy 2030

Gulf Pharmaceutical Industries (Julphar) has launched its Strategy 2030 to drive transformation through sustainable growth. The plan targets tripling Julphar’s revenues through six central growth pillars that focus on maximising revenue from their present product offering, new products, geographical expansions, strategic business initiatives, initiatives to create advanced speciality products and “In-Organic Growth Initiatives”.

The strategy will be driven with the adoption of innovative, cutting-edge technologies across all of Julphar’s manufacturing plants.

Dr. Essam Mohamed, CEO of Julphar, said, “Setting out our Strategy 2030, 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.”

Growing its market share
The company is working towards increasing revenue from its existing products by increasing its market share and optimising costs. It is also accelerating its preparations to receive good manufacturing practice approvals from PICs, ANVISA, WHO and the EU to expand its business into other strategic regions, both for its existing portfolio of products and those in the pipeline.

Julphar announces its Strategy 2030 with 100+ new products to drive sustainable growth#WamNews https://t.co/yAqASc5sbF pic.twitter.com/6UvJpMUwFO

— WAM English (@WAMNEWS_ENG) April 20, 2022

Launching new products
The company said its on track to deliver revenue growth from its legacy products, and, to unlock further growth, will launch more than 100 new products between 2022 till 2030, capitalising on its in-house R&D, in addition to signing licensing agreements with top-tier pharma partners and acquiring new products. It’s strengthening its in-house R&D to a build a robust and innovative pipeline, with a focus on developing a broad bio-equivalent generic and biosimilar drugs portfolio.

Supported by its high-tech manufacturing facilities in Ras Al Khaimah,  the company has also partnered with and signed manufacturing contracts with 11 leading companies across the globe for technology transfer, secondary packaging, and co-development agreements.

New ventures and markets
The company aims to venture into well-defined new therapeutic areas, including future treatments for oncology, CNS, hormones and immunology drugs. Additionally, Julphar will expand its presence into new territories, including CIS countries, Turkey, Latin America, and Africa, to create new revenue streams. Julphar is also expanding into vaccine production and biotechnology to extend its areas of expertise further.

Julphar said it will build strategic partnerships with institutions globally to maximise its market access to increase its products’ market share in different countries and create three in-organic growth initiatives in three major pharma markets.