Jamjoom Pharma focuses on portfolio optimization, ups forecast for H2 growth: CEO

Tarek Hosni, CEO of Jamjoom Pharmaceuticals Factory Co. (Jamjoom Pharma)

Jamjoom Pharmaceuticals Factory Co.’s (Jamjoom Pharma) growth in Saudi Arabia is driven by focusing on high-potential products, precise demand planning, and portfolio optimization, CEO Tarek Hosni told Argaam in an interview.

“We target both local and international competitors, staying competitive through strategic market analysis,” Hosni said.

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The company focuses on maximizing shareholder value through dividends, CAPEX, and exploring opportunities for inorganic growth.

Hosni added that apart from year-on-year revenue growth, effective cost control, economies of scale, and optimized operations have been key to maintaining strong profit margins despite external challenges.

Moreover, Jamjoom Pharma’s main facility in Jeddah produced over 72 million units, with Egypt contributing 9.2 million units. The company expects continued growth with scaled operations and optimized production.

Saudi Arabia, the GCC, Iraq, and Egypt were key growth markets, with strong performance in ophthalmology and dermatology. The anti-diabetes, cardiovascular and consumer health segments also showed exceptional growth.

Based on its first-half performance, the pharmaceuticals manufacturer expects EBITDA margins of 31-32.5% in the second half of 2024, compared to its previous guidance of 30-31.5%. The company is confident in its strategy and market position to sustain this momentum.

Jamjoom Pharma’s H1 2024 net profit jumped 23% to SAR 209.9 million, from SAR 170.7 million in the first half of 2023. In Q2 2024, net earnings came in at SAR 107 million, Argaam earlier reported.