Julphar launches Pharmaceutical Factory at a Cost of 170 million Birr

Julphar, a United Arab Emirates (UAE) based pharmaceutical company, in partnership with Medtech, a local pharmaceutical and medical equipment importer and distributer, on Wednesday established its factory in Ethiopia at a cost of 170 million birr.

The manufacturing factory was launched on in the presence of Prime Minister Hailemariam Desalegn and Sheikh Faisal bin Saqr Al Qasimi, chairman of Juphar. 
Having a network of 11 manufacturing plants, Julphar opened its additional facility in Ethiopia, seeing the country as a strategic corner to do business. Ethiopia being the first in Africa, the company has also planned to open one in Algeria.

Speaking at the inauguration ceremony, Dr Ayman Sahli, Julphar’s CEO, said Julphar recognizes that Ethiopia is an “extremely interesting, dynamic and important market opportunity.” As business and commerce across the continent continue to grow along with the increasing population, the demand for quality, affordable health-care is greater than ever.

Ethiopia’s strategic position within Africa has made it an obvious choice for Julphar when it was looking at opportunities to develop a “real and tangible” presence in Africa, Sahli added.

Medtech, which has been working as an agent for Julphar since its establishment 13 years ago, founded the plant in Ethiopia with a 45 percent and 55 percent share in the company. The plant, built by machineries from Germany, Sweden and France, will produce pharmaceutical products for the local market, Dr. Mohamed Nuri, CEO of Medtech told The Reporter.

Once the manufacturing plant becomes fully operational it will produce 25 million bottles of suspension and syrup, 500 million tablets and 200 million capsules per annual.
According to Mohammed, once the second phase which is under construction is completed, the manufacturing plant will enable Medtech not only to be a vital supplier to the local market but will also export the products to neighboring countries and across the whole continent.
The new plant is going to open work opportunities for 150 Ethiopians, where 20 others are from abroad here for technological transfer, Mohamed told The Reporter.

Julphar (Gulf Pharmaceutical Industries) is a public shareholding pharmaceutical company based in Ras Al Khaimah, United Arab Emirates. It was established in 1980 under Sheikh Saqr bin Mohammad al-Qassimi, the late ruler of Ras Al Khaimah, and currently produces and distributes pharmaceutical products across five continents. Julphar produces therapeutic products that target a large range of pharmaceutical segments including consumer, endocrinology, antibiotics, cardiovascular, women's health, dermatology and gastroenterology.

One of Julphar’s strategic products includes Moist Exposure Burn Ointment (MEBO,) a common product used for burns. The success of MEBO led to the creation of MEBO Scar, an ointment that was developed specifically by Julphar for the treatment of scars both old and new, and is used to restore the health of traumatized skin. MEBO Scar assists patients with both functional and cosmetic problems caused by scarring.

Julphar manufacture and sell more than 423 products. In 2011 the company’s total revenue was USD 278.8 million with an operating income of USD 54.4 million and a net income of 46.3 million dollars.

Source:- Addis Fortune