Julphar to resume exports to Saudi Arabia as ban lifts – The National

Julphar to resume exports to Saudi Arabia as ban lifts – The National

Julphar to resume exports to Saudi Arabia as ban lifts. The kingdom lifted a temporary suspension on the company's products following successful inspection of its facilities. Gulf Pharmaceutical Industries (Julphar), one of the biggest drug manufacturers in the Middle East and Africa, will resume exporting its products to Saudi Arabia after authorities lifted a temporary ban on the sale of its products.. The company said the ban was lifted following a "successful inspection of its manufacturing facilities.". Saudi Arabia banned the sale of Julphar's products in 2018 for failing to meet regional standards.. The company had already started supplying the Saudi Arabian market from its new production facility at King Abdullah Economic City at the end of 2019.. Aside from Saudi Arabia, Julphar's products were suspended from Kuwait and Oman as well.. The capital restructuring involves first reducing the company's share capital by just over Dh503 million by cancelling shares to extinguish accumulated losses, and then raising up to Dh500m through the issuance of new shares with a nominal value of Dh1, the company said.. It has 16 manufacturing facilities in Africa, the Middle East and Asia..