RAS AL KHAIMAH // Gulf Pharmaceutical Industries (Julphar), the country's oldest drugs manufacturer, will open a plant to produce insulin from scratch in less than two years.
The company, which is based in Ras al Khaimah and was founded in 1984, will spend Dh500 million (US$136.1m) on an expansion designed to produce drugs to combat the so-called lifestyle diseases common in the region, most notably, diabetes.
The new facility will produce more than 50 million vials of insulin, which will be sold throughout the MENA region, said Dr Ayman al Sahli, Julphar's general manager. "This will be a true Emirati product."
The company now imports the raw materials for insulin from Europe. Being able to produce the drug from scratch will allow Julphar to better control costs, Dr al Sahli said.
It makes sense to manufacture insulin locally, said Pascal Baz, a pharmaceuticals consultant with Stanton Chase in Dubai. "The UAE is the centre of the Gulf," she said. "They can better address demand locally and not having to ship from Europe or the Levant will lower costs. Also, it makes it easy to export to the Gulf region."
About 90 per cent of the pharmaceuticals in the UAE are imported, which can lead to high prices and critical shortages. It also means very little of the money spent on medicine is reinvested in the local economy. About Dh1.4bn was spent on pharmaceuticals last year in the Emirates.
Demand for insulin in the UAE will only grow. One in four nationals shows evidence of having diabetes, according to Government health statistics. About 25 per cent of Emirati men and almost 40 per cent of women in the country are classified as obese and are at higher risk of developing the disease.
The healthcare sector is booming in the Gulf overall and valued at between $15bn and $18bn last year. It is expected to grow five-fold by 2025 and companies are scrambling for a piece of the action. "The regional market had been ignored for so long," Dr al Sahli said.
In addition to Julphar, there are three other pharmaceuticals manufacturers in the Emirates: Neopharma, Globalpharma and Medpharma.
The Julphar campus, with the main administrative building and nine plants that manufacture 186 products that can create 800 medicinal formulations, sits in a quiet corner of this northern emirate. Julphar was established under the patronage of Sheikh Saqr bin Mohammed, Ruler of Ras al Khaimah, and produced generic pain killers and cough suppressants.
The company has grown into a global exporter to 40 markets worldwide with sales of Dh762m last year, an increase of 22 per cent compared to 2008.
Dr al Sahli said about 90 per cent of its profits come from overseas sales. "We are from Ecuador to Thailand," he said.
Two plants, the one to produce insulin and another to manufacture products such as ointments and creams, are under construction. Last year Julphar opened a facility that cost Dh100m to produce antibiotics.
In many ways, Julphar illustrates the findings of a recent survey by HSBC that UAE companies were the most internationally focused of those in any of the countries where the bank operates. It said 91 per cent of the survey's respondents from the Emirates said they had operations abroad, topping the bank's global average of 76 per cent.
Unlike those UAE companies, however, Julphar is not looking to India for its next expansion. "It's a huge market ? but difficult for Julphar to penetrate," Dr al Sahli said. "With the low prices, it is difficult to manufacture here and ship there."
Last year, the company struck a deal to be the only UAE company to provide MENA with a swine flu vaccine. Julphar partnered with Hualan Biological Bacterin of Beijing, which was the first in the world to enter clinical trials for the Pandemic H1N1 Influenza single-shot vaccine.
The UAE company employs about 1,500 workers of 20 nationalities. Dr al Sahli said he believes that diversity is an asset when recruiting staff, giving them an edge in the stiff competition for medical workers.
It operates a training centre onsite and sponsors a variety of programmes to encourage Emiratis to become the pharmacists, technicians and doctors who could work for Julphar. It also has scholarship programmes with local universities to encourage students to study subjects related to the pharmaceutical industry.
ashah@thenational.ae
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The candidates
Dr Ayham Ammora, scientist and business executive
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Key facilities
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MATCH INFO
Crawley Town 3 (Tsaroulla 50', Nadesan 53', Tunnicliffe 70')
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Engine: Long-range single or dual motor with 200kW or 400kW battery
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Max touring range: 620km / 590km
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The Prison Letters of Nelson Mandela
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- Carbon sink: Seagrass sequesters carbon up to 35X faster than tropical rainforests
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UAE currency: the story behind the money in your pockets
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Thursday
Dibba v Al Dhafra, Fujairah Stadium (5pm)
Al Wahda v Hatta, Al Nahyan Stadium (8pm)
Friday
Al Nasr v Ajman, Zabeel Stadium (5pm)
Al Jazria v Al Wasl, Mohammed Bin Zayed Stadium (8pm)
Saturday
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Sharjah v Shabab Al Ahli Dubai, Sharjah Stadium (8pm)
UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
Dates for the diary
To mark Bodytree’s 10th anniversary, the coming season will be filled with celebratory activities:
- September 21 Anyone interested in becoming a certified yoga instructor can sign up for a 250-hour course in Yoga Teacher Training with Jacquelene Sadek. It begins on September 21 and will take place over the course of six weekends.
- October 18 to 21 International yoga instructor, Yogi Nora, will be visiting Bodytree and offering classes.
- October 26 to November 4 International pilates instructor Courtney Miller will be on hand at the studio, offering classes.
- November 9 Bodytree is hosting a party to celebrate turning 10, and everyone is invited. Expect a day full of free classes on the grounds of the studio.
- December 11 Yogeswari, an advanced certified Jivamukti teacher, will be visiting the studio.
- February 2, 2018 Bodytree will host its 4th annual yoga market.
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Sand storm
- Particle size: Larger, heavier sand grains
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Dust storm
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Engine: 2.0-litre turbocharged four-cylinder
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Power: 204hp @ 5,800rpm
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Fuel economy, combined: 6.7L / 100km
Profile
Company: Justmop.com
Date started: December 2015
Founders: Kerem Kuyucu and Cagatay Ozcan
Sector: Technology and home services
Based: Jumeirah Lake Towers, Dubai
Size: 55 employees and 100,000 cleaning requests a month
Funding: The company’s investors include Collective Spark, Faith Capital Holding, Oak Capital, VentureFriends, and 500 Startups.
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Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
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THE SPECS
Engine: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
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LILO & STITCH
Starring: Sydney Elizebeth Agudong, Maia Kealoha, Chris Sanders
Director: Dean Fleischer Camp
Rating: 4.5/5
