Gulf Pharmaceutical Industries, known as Julphar, has launched two drugs for managing type 2 diabetes.
It is part of a 2014 licensing and co-marketing agreement with the US company Merck Sharp & Dohme, Abu Dhabi-listed Julphar said yesterday.
“The launch of Xelevia and Velmetia is part of our continuing mission to develop Julphar diabetes portfolio, to support the healthcare community in the region,” said Dr Hosam Badr, the marketing director at Julphar.
Both medicines help improve the control of blood glucose (sugar) levels in the body when combined with a healthy diet and exercise.
Figures from the International Diabetes Federation show that more than 19 per cent of the population in the UAE has type 2 diabetes – ranking 16th worldwide.
An unhealthy, inactive lifestyle and weight gain are the leading causes of type 2 diabetes.
Studies have shown that people with diabetes have a six times higher risk of cardiovascular disease and stroke.
In 2019, the UAE’s pharmaceutical expenditure is expected to reach Dh13.97 billion, growing at an average of 8 per cent annually from Dh10.32bn last year, according to a report in February from the research company BMI.
The manufacturer of generic medicines reported a net profit of Dh54.8 million in the second quarter of the year, compared to Dh54.3m a year earlier.
Julphar shares closed unchanged yesterday at Dh2.18.
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