Gulf Pharmaceutical Industries (Julphar), one of the largest pharmaceutical companies in the Middle East and Africa, announced its sustainable growth strategy until 2030, as part of its vision to achieve sustainable growth, to create added value for stakeholders and to advance the pace of transformation. The company has completed one of the most successful and efficient transformation programs in the pharmaceutical market of the region.
The 2030 sustainable growth strategy was designed with the aim of achieving a revenue growth boom, as the company aspires, under the new strategy, to triple its annual revenue by the end of 2030, based on the six key initiatives represented in “increase in revenue from existing product portfolio” and “market products”. “Geographical expansions in emerging markets and regions”, “strategic business initiatives”, “specific and advanced product initiatives” and “substantial growth initiatives”.
Julphar’s growth strategy embodies the company’s aspirations to become the leading pharmaceutical company in the Middle East and North Africa, offering a variety of unique value-added products, adopting new additions to its advanced technologies all stages of the pharmaceutical manufacturing process, starting with research. and development processes to deliver high quality product to the end consumer.
Commenting on the company’s launch of its new growth strategy, Dr. Essam Mohamed, CEO of Julphar, said: “With regard to launching our sustainable growth strategy until 2030, we are committed to devoting our current efforts and resources to implementing priority growth. initiatives and projects of the future … despite great challenges and pandemic Globally, Julphar has achieved one of the most successful strategic transformation programs, as we have achieved the desired program goals and far exceeded our expectations for success; We are now at the peak of a defining moment in our transformation towards sustainable growth. ”
He added: “We are confident that we are ideally positioned to achieve our future growth-driven vision based on a clear and defined strategy that enables us to offer and add innovative and innovative patient health solutions. throughout the region. “Through our growth strategy, we will work to unlock our full potential, focusing on increasing profitability and making bold investments in the best and most innovative areas of treatment for the patients and communities we serve.”
In line with the implementation framework of the Julphar 2030 sustainable growth strategy, the company will work to increase the percentage of revenue from its current product portfolio by maximizing the market share of these key products and keeping associated costs at a optimal level.
At the same time, the company is accelerating the process of obtaining GMP approvals for new geographies such as licenses for PICs, the Brazilian Health Regulatory Agency ANVISA, the World Health Organization (WHO) and European Union countries, so that it can expand its business. in new strategic areas that enable it to reap larger market shares for its existing product portfolio and new product portfolio.
Julphar is moving with great confidence towards achieving significant revenue growth based on the existing product portfolio, which is distinguished for its strength in the region’s markets.
To achieve broad prospects in the sustainable growth phase, Julphar plans to launch more than 100 products by 2022 and by 2030, taking advantage of internal research and development processes, along with signing licensing agreements and local production with leading pharmaceutical companies worldwide, with the aim of providing unique treatment solutions for patients, in addition to providing new drugs that will be introduced for the first time in the regional pharmaceutical market.
Based on its strategic approach to developing a wide range of generic drugs and bio-equivalent alternatives, it is strengthening and accelerating internal research and development to serve its future goals, primarily by building a strong portfolio. and innovative of future products that offers sustainable therapeutic solutions to the communities in which it operates.
The company also plans to benefit more from being part of the economic business system in the Ras Al Khaimah Emirates, which has great flexibility in enabling and linking institutions and simplifying economic procedures as part of a major strategy to ensure the development of stable of the emirate. and enables domestic and foreign companies and institutions to grow within a flexible economic business system.
Relying on its advanced manufacturing facilities in Ras Al Khaimah, Julphar is fully equipped to be the preferred partner for all pharmaceutical manufacturing operations, which also enabled it to sign licensing and manufacturing agreements with 11 leading companies worldwide in several sectors, including technology transfer. secondary packaging and cooperation agreements and joint development.
Julphar aims to enter new carefully selected therapeutic areas, including future therapies for oncology, central nervous system, hormones and immunomodulatory drugs, with each therapeutic area expected to achieve sustainable and profitable growth that contributes to value creation for the company shareholders until 2030 and beyond.
To complement the implementation framework of the new strategy, Julphar will work to expand its presence in new regions, in order to take advantage of a large number of market-based shares in these target markets by applying models for reach those markets in the fastest and most efficient way. and flexible way.
Julphar plans to penetrate new markets and geographies within the top 3 markets to include regions such as the Commonwealth of Independent States (CIS), Turkey, Latin American countries and new regions in Africa by 2030, where these expansions geography will play an important role in creating new revenue streams for the company.It is also expanding into vaccine production and biotechnology in order to further expand its expertise and reach new markets and regions.
Julphar is currently working on building strong strategic partnerships with leading institutional entities in several countries, in order to enable the process of delivering its products in the markets of those countries and institutions, in order to increase its share in those markets, in addition to the creation of three core growth initiatives in the three major pharmaceutical markets, which will significantly contribute to achieving its future vision towards sustainable growth.
Julphar will continue to explore and form new alliances and partnerships to support long-term growth prospects, in relation to the launch of new products in key therapeutic areas, taking into account investments in capital expenditures in order to improve operational efficiency, and will continue to accelerate productivity drivers in all sectors of the company, which will be reflected in all aspects. Business on the other hand will lead to the provision of valuable treatment solutions for patients in the region on the one hand and in providing of positive return on investment for shareholders and investors on the other hand.