Julphar, one of the biggest pharmaceutical companies in the Middle East and Africa, is embarking on an ambitious turnaround strategy. Jeff Topping / The National
Julphar, one of the biggest pharmaceutical companies in the Middle East and Africa, is embarking on an ambitious turnaround strategy. Jeff Topping / The National
Julphar, one of the biggest pharmaceutical companies in the Middle East and Africa, is embarking on an ambitious turnaround strategy. Jeff Topping / The National
Julphar, one of the biggest pharmaceutical companies in the Middle East and Africa, is embarking on an ambitious turnaround strategy. Jeff Topping / The National

Julphar to resume exports to Saudi Arabia as ban lifts


Fareed Rahman
  • English
  • Arabic

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.”

“We would like to thank the SFDA (Saudi Food and Drug Authority) and UAE’s Ministry of Health and Prevention for their continued guidance and support as we worked together to implement further improvements in our manufacturing processes as per recommendations highlighted in their report,” Sheikh Saqer Humaid Al Qasimi, Julphar's chairman of the board, said.

“We will continue to strengthen our partnership and cooperation with all relevant regional authorities today and in the future as our products continue to be successfully sold in 50 markets around the world.”

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. The plant has an installed annual capacity for one billion tablets and 300 million capsules and 30 million bottles of syrups or suspensions.

Julphar, one of the biggest generic drugs manufacturers in the Middle East and North Africa, had to recall products from cough syrups to mouthwash last year after health authorities in the UAE too raised concerns.

Aside from Saudi Arabia, Julphar's products were suspended from Kuwait and Oman as well.

The company has also replaced several of its top executives including its chief executive and appointed new board members last year as financial stress mounted on the firm.

Earlier in April, shareholders of Ras Al Khaimah-based Julphar approved the company's plan to restructure its capital through a rights issue to improve the financial position and reduce debt.

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.

Set up in 1980, Julphar distributes pharmaceutical products to more than 50 countries on five continents. It has 16 manufacturing facilities in Africa, the Middle East and Asia.

Company Profile:

Name: The Protein Bakeshop

Date of start: 2013

Founders: Rashi Chowdhary and Saad Umerani

Based: Dubai

Size, number of employees: 12

Funding/investors:  $400,000 (2018) 

Dubai works towards better air quality by 2021

Dubai is on a mission to record good air quality for 90 per cent of the year – up from 86 per cent annually today – by 2021.

The municipality plans to have seven mobile air-monitoring stations by 2020 to capture more accurate data in hourly and daily trends of pollution.

These will be on the Palm Jumeirah, Al Qusais, Muhaisnah, Rashidiyah, Al Wasl, Al Quoz and Dubai Investment Park.

“It will allow real-time responding for emergency cases,” said Khaldoon Al Daraji, first environment safety officer at the municipality.

“We’re in a good position except for the cases that are out of our hands, such as sandstorms.

“Sandstorms are our main concern because the UAE is just a receiver.

“The hotspots are Iran, Saudi Arabia and southern Iraq, but we’re working hard with the region to reduce the cycle of sandstorm generation.”

Mr Al Daraji said monitoring as it stood covered 47 per cent of Dubai.

There are 12 fixed stations in the emirate, but Dubai also receives information from monitors belonging to other entities.

“There are 25 stations in total,” Mr Al Daraji said.

“We added new technology and equipment used for the first time for the detection of heavy metals.

“A hundred parameters can be detected but we want to expand it to make sure that the data captured can allow a baseline study in some areas to ensure they are well positioned.”

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Key facilities
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  • Premier League-standard football pitch
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  • NBA-spec basketball court with auditorium
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  • AR and VR-enabled learning centres
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The more you save, the sooner you can retire. Tuan Phan, a board member of SimplyFI.com, says if you save just 5 per cent of your salary, you can expect to work for another 66 years before you are able to retire without too large a drop in income.

In other words, you will not save enough to retire comfortably. If you save 15 per cent, you can forward to another 43 working years. Up that to 40 per cent of your income, and your remaining working life drops to just 22 years. (see table)

Obviously, this is only a rough guide. How much you save will depend on variables, not least your salary and how much you already have in your pension pot. But it shows what you need to do to achieve financial independence.

 

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Wolves 1 (Traore 67')

Tottenham 2 (Moura 8', Vertonghen 90 1')

Man of the Match: Adama Traore (Wolves)

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2. They can be created when massive stars collapse under their own weight

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4. The biggest black holes lurk at the centre of many galaxies, including our own

5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed

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Monday, January 28
Iran v Japan, Hazza bin Zayed Stadium (6pm)

Tuesday, January 29
UAEv Qatar, Mohamed Bin Zayed Stadium (6pm)

Friday, February 1
Final, Zayed Sports City Stadium (6pm)

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.

Part three: an affection for classic cars lives on

Read part two: how climate change drove the race for an alternative 

Read part one: how cars came to the UAE

The Sand Castle

Director: Matty Brown

Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea

Rating: 2.5/5

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Argentina 4 Haiti 0

Peru 2 Scotland 0

Panama 0 Northern Ireland 0

COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
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Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

The five pillars of Islam

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18

This is how many recognised sects Lebanon is home to, along with about four million citizens

450,000

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1.5 million

There are just under 1 million Syrian refugees registered with the UN, although the government puts the figure upwards of 1.5m

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The percentage of stateless people in Lebanon, who are not of Palestinian origin, born to a Lebanese mother, according to a 2012-2013 study by human rights organisation Frontiers Ruwad Association

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Transmission: eight-speed automatic

Power: 258hp at 5,000-6,500rpm

Torque: 400Nm from 1,550-4,400rpm

Fuel economy, combined: 6.4L/100km

Price, base: from D215,000 (Dh230,000 as tested)

On sale: now

How to watch Ireland v Pakistan in UAE

When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.

Tickets

Tickets start at Dh100 for adults, while children can enter free on the opening day. For more information, visit www.mubadalawtc.com.