Gulf Pharmaceutical Industries — Capital/Financing Update 2021

Sep 4, 2021

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PRESS RELEASE

Gulf Pharmaceutical Industries ‘Julphar’ divests 100% shareholding in Gulf Inject LLC.

September 5, 2021, Ras Al Khaimah (UAE) – Gulf Pharmaceuticals Industries (Julphar) signed an agreement to sell its 100% subsidiary, Dubai-based Gulf Inject LLC, to GlobalOne Healthcare Holding LLC, the Healthcare Division of Yas Holding LLC in Abu Dhabi. The deal comes as part of the company's strategy to strengthen its core product portfolio and divest from non-core activities.

Founded in Dubai in 1994, Gulf Inject manufactures and distributes world-class IV fluids. The company is a leader in fluid management therapy in the United Arab Emirates and other Middle East markets with a portfolio of more than 60 products, including IV infusion solutions and small volume ampoule products.

The divestment of Gulf Inject is a further step in Julphar’s strategy to concentrate on its core business activities and expand its portfolio through in-house R&D and in-licensing partnerships. The transaction strengthens Julphar’s cash position and allows the company to accelerate the investment in its ongoing product pipeline initiative.

Sh. Saqer Humaid Al Qasimi, Chairman of the Board, Julphar, said : "We believe this deal is in the best interest of Julphar and our shareholders as we intend to maximize value with a strategy that continues to focus on the large and growing core areas of the company."

"Since its establishment in 1994, Gulf Inject has developed into a leading IV Fluids player in the region and achieved a very successful turnaround of its business in recent years. We are confident that under the new ownership, this growth strategy will be taken to the next level." he added.

Dr. Essam Mohamed, Chief Executive Officer of Julphar, said: "The divestiture is a step towards streamlining our operations and bringing a sharper focus on developing Julphar’s generic pharma model in the region and beyond. The sale of Gulf Inject comes as part of the company’s strategy to continue its growth in the most value adding core activities."

"We are working on expanding the base of our generic pharmaceutical portfolio to include new and more complex combination products and biological technologies, encouraging innovation and promoting the production of innovative medicines locally." he added.

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About Julphar:

Julphar is one of the largest pharmaceutical manufacturers in the Middle East and Africa, and for more than four decades, the company has been delivering high quality, innovative and affordable healthcare solutions to families across the globe. Established under the guidance of His Highness Sheikh Saqr Bin Mohammed Al Qasimi in 1980, Julphar employs more than 2,400 people and distributes pharmaceutical products to more than 50 countries across the globe.

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Julphar’s business is centered on 2 core business units – Julphar Diabetes Solutions and General Medicine Division, which target major therapeutic segments including Gastrology, Pain Management, Wound Care, Antibiotics and Cardio-metabolism. Julphar has 13 internationally accredited facilities in Middle East and Africa. In 2012, Julphar became one of the largest producers of Insulin with its UAEbased biotechnology production unit.

For more information , visit http://www.julphar.net

Media contact: Corporate Communication, Julphar. Mail: adel.khaled@julphar.net M: 0562525627