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FINANCIAL NEWS
Julphar builds insulin production plant
27 Mar 2011
(MENAFN) Gulf Pharmaceutical Industries (Julphar) chief executive, Dr. Ayman al Sahli, stated that the company would start producing insulin by the end of 2011, reported The National.
The CEO of the Ras al Khaimah-based company said that the insulin plant would have cost by its completion a total of USD136.1 million.
Al Sahli said that local production of insulin in the UAE would cut production costs as well as ensure constant supply of the substance. This would as well cut costs for government, which would subsequently mean lower taxes and thus, less insurance costs for nationals.
It is worth noting that the UAE imports the majority of its pharmaceuticals, which causes high prices and occasionally, shortages in supply.
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