Julphar Announces Strong FY2024 Financial Performance and Strategic Growth Milestones at Annual General Meeting

April 22, 2025 – Ras Al Khaimah, United Arab Emirates – Gulf Pharmaceutical Industries PJSC Julphar, one of the MENA region’s leading pharmaceutical manufacturers, held its Annual General Meeting (AGM) today at its headquarters in Ras Al Khaimah. The meeting brought together the company’s Board of Directors, executive management, shareholders, and representatives from regulatory authorities.

During the AGM, Julphar presented a solid financial performance for the fiscal year ending December 31, 2024, underscoring continued momentum in its transformational growth journey. The company reported revenues of AED 1,312.5 million, marking a 2.7% increase year-on-year from continuing operations and a 4% increase on a constant currency basis. Net profit reached AED 40.5 million, supported by robust operational execution and strategic market expansion.

The meeting approved the audited financial statements for FY2024 and confirmed the appointment of the external auditor for the 2025 fiscal year. Julphar’s EBITDA from continuing operations surged to AED 144.9 million—more than triple that of the previous year—driven by improved operational efficiencies, disciplined cost control, and a sharpened focus on high-growth markets. These results reflect the successful execution of Julphar’s strategic roadmap and strong financial discipline.

Operationally, Julphar reinforced its position in key markets across the Middle East and Africa, registering 72 new products and expanding its pipeline for upcoming phased launches. The company also strengthened its manufacturing footprint and maintained operational resilience by leveraging its diversified product portfolio. Julphar reported a substantial improvement in cash flow from operations, reaching AED 245 million compared to AED 93.6 million in 2023. This increase reflects enhanced profitability and effective working capital management.

Reaffirming its commitment to long-term growth, Julphar highlighted key milestones in its product innovation strategy, including the recent launch of insulin analogues Lansulin, Insurapid, and Insumix. These products underscore Julphar’s ambition to deliver advanced therapies and improve patient outcomes across the region. In line with its strategic expansion goals, Julphar reiterated its AED 300 million investment in a greenfield biologics and sterile manufacturing facility in the Kingdom of Saudi Arabia. This project aims to meet rising demand for specialized pharmaceutical products and support the region’s vision for local production and healthcare sustainability.

Julphar continues to execute its transformation strategy with a clear focus on innovation, operational excellence, and geographic expansion to deliver long-term value for all stakeholders.

Sheikh Saqr Bin Humaid Al Qasimi, Chairman of Julphar, said:

“At Julphar, we are committed to serving millions of patients across various therapeutic areas. We are confident that our continued focus on growth, innovation, collaboration, and geographical expansion will enable us to deliver a lasting, positive impact in the healthcare sector, and contribute meaningfully to the knowledge-based economy — not only in the UAE, but also across the GCC and beyond.
 

Mr. Basel Ziyadeh, Chief Executive Officer of Julphar, added:

“These positive results — in terms of sales, profitability, and cash flow — serve as a solid foundation and key motivator to continue, and even accelerate, our transformational journey toward sustainable growth, business expansion, and enhanced manufacturing capabilities. This transformation has been guided by a balanced approach — through strategic investments, maintaining a solid capital structure, and delivering rewarding returns to our shareholders.”

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About Julphar:

Julphar is one of the largest pharmaceutical manufacturers in the Middle East and Africa, and for more than four decades, the company has been delivering high quality, innovative and affordable healthcare solutions to families across the globe. Established under the guidance of His Highness Sheikh Saqer Bin Mohammed Al Qasimi in 1980, Julphar employs more than 3,000 people and distributes pharmaceutical products to more than 40 countries across the globe.

Our business is centred around General Medicines in the retail pharmacy channel and hospitals as well as speciality Products, Our medicines target major therapeutic segments including Diabetes, Gastrointestinal Tract (GIT), Respiratory, Pain Management, Wounds and Scars, Anti-infectives, Anemia, Gynecology, Dermatology, Erectile Dysfunction and Cardiology. 

One of the largest Diabetes drug producers in the MENA and the only Insulin manufacturer in the UAE. We employ around 3,000 people and distribute our products to more than 40 countries on five continents. Our 10 internationally accredited manufacturing facilities can produce up to one million boxes of medicine a day.

For more information, visit http://www.julphar.net

Media contact: Corporate Communication, Julphar.

Mail: ahmed.khatib@julphar.net
M: +971505777883