Julphar eyes Asian expansion
The Ras al-Khaimah-based pharmaceutical company Julphar has acquired a majority stake in the Bangladesh-based Rak Pharmaceuticals.
The acquisition marks the start of the companys planned expansion into Asia.
Julphar CEO Ayman Sahli, said in a statement that the Bangladeshi market alone represents huge opportunities for the company as demand for healthcare and medicine in the Asian country rises.
Rak Pharmaceuticals is a subsidiary of RAK Ceramics, which is headquartered in the UAE emirate of Ras al-Khaimah.
It achieved more than $5.7m-worth of sales in 2013, representing growth of 24 per cent on the previous year.
In 2013, Julphar expanded into Ethiopia with the launch of the first international manufacturing facility. It is also constructing a new facility in Jeddah, Saudi Arabia.
You might also like...
Inside Saudi Arabia’s water PPP ecosystem
02 June 2026
Oman’s OQEP signs agreement with Libyan state entity
02 June 2026
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.
Take advantage of our introductory offers below for new subscribers and purchase your access today! If you are an existing client, please reach out to your account manager.
