Globalpharma records a 17% growth over last year

Globalpharma recorded a 17% growth in net profits in 2020 (AED 122.6 million) due to mainly an increase in medicines sales in key markets (UAE, Saudi, Iraq , Yemen and Sudan) and the strengthening of its distribution, sales and marketing capabilities across the region.

Globalpharma’s production volume increased to 17 million packs of medicine in 2020 from 13 million the year prior. A growing demand for penicillin antibiotics (Gloclav, Glomox) and painkillers tablets (Emifenac) across regional markets were the main drivers of production increase.

According to the 2020 IQVIA pharmaceuticals report, Globalpharma increased its market share by 21% in Saudi Arabia and the UAE. Globalpharma is expecting to strengthen its market position in 2021, through the launch of new medicines to treat diseases like dyslipidemia and gastrointestinal disorders.