Julphar to open pharmaceutical production plant in Saudi Arabia next month
Gulf Pharmaceutical Industries (Julphar) (GPHI.AD), UAE-based pharmaceutical producer, is set to commence production at its new pharmaceutical production plant in Saudi Arabia, according to a company spokesperson. The company’s production plant has paid-in capital of AED300mn and is located in King Abdullah Economic City on the west coast of Saudi Arabia. The new plant will have an annual production capacity of 1 billion tablets, 300 million capsules, 30 million bottles of syrups and suspensions; also, the company will later produce biotech medicines in the second phase of production. The company exports over 90% of its products and considers Saudi Arabia the company’s biggest market, according to Marketing Director, Hossam Badr. Saudi Arabia was the biggest market contributing to Julphar’s sales in 2015 at 35%, which came through exports.
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