Dubai: The UAE pharma company Julphar has divested its entire stake in Dubai-based Gulf Inject to GlobalOne Healthcare Holding, part of Yas Holding in Abu Dhabi. The decision comes as part of Julphar’s moves to exit all of its non-core activities.
Founded in Dubai in 1994, Gulf Inject manufactures and distributes IV fluids. The company is a leader in fluid management therapy in the UAE and other Middle East markets with a portfolio of more than 60 products, including IV infusion solutions and small volume ampoule products.
"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,” said Dr. Essam Mohamed, CEO of Julphar. “The sale of Gulf Inject comes as part of the company’s strategy to continue its growth in the most value adding core activities."
There has also been a stake buy as well, with Julphar confirming that it had acquired the 60 per cent that it had not earlier held in the retailer Planet Pharmacies.