Companies / United Arab Emirates
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Consolidation In Evidence In Pharmacy Sector
December 2007 | Company News AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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The pharmacy sector across the Middle East is fragmented. However, evidence of consolidation is growing with the announcement that a chain of pharmacies is to be launched in a joint venture between UAE-based drugmaker Gulf Pharmaceutical Industries (Julphar) and private equity firm Global Investment House. The pharmacy chain will be known as Planet Pharmacies and will begin operating with a market capital of AED900mn (US$245mn), which should eventually rise to AED3bn (US$817mn). Initially 65 pharmacies will be open, with the target of having a chain of more than 2,000 pharmacies and clinics across the Middle East and North Africa (MENA)