Gulf Pharmaceutical Industries ‘Julphar’ reports financial results for H1 2023

Gulf Pharmaceutical Industries ‘Julphar’ reports financial results for H1 2023

Over 86 million units sold indicating enhanced unit delivery, with strong market share increases across key markets reflecting robust commercial execution.

Ras Al Khaimah, UAE: Gulf Pharmaceutical Industries PJSC (Julphar), one of the largest pharmaceutical manufacturers in the Middle East and Africa, has reported its financial results for the period ending June 30th, 2023.

Amid headwinds in specific geographies, and currency devaluation in Egypt, Julphar reported revenues of AED859.4 million in H1 2023, a 2.5% increase (+4.7% at constant currency) compared with the same period last year (AED838.5 million in H1 2022) driven by improved sales, and a solid and sustained market share increase across its core markets, with subsidiary Planet Pharmacies’ sales delivering +7.1% growth compared with the same period last year and showing good momentum in the retail and distribution business.

This period witnessed Julphar achieving double digit growth in the UAE and GCC region markets as a result of continued positive developments in key markets, such as Saudi Arabia, Oman, and Kuwait. Over 86 million units were sold during the first half, a noticeable increase compared to 70 million in H1 2022, demonstrating the strong momentum of the company in core markets and its ability to balance headwinds occurring in