Jamjoom Pharma CEO optimistic about continued growth amid market progress

The North African markets recorded 28.5% growth, while the GCC region reported 19.2% growth.

"This growth reflects the company’s ability to efficiently cater for the market needs and will help the company enhance presence and provide high-quality healthcare services in these regions," he said.

Hosni noted that the third-quarter performance underscores the company’s strategic excellence and operational resilience. He added that robust earnings were buoyed by the focus on high-demand therapeutic areas and efficient cost management.

He also highlighted that the profit increase for this quarter stemmed from robust performance across vital therapeutic fields, including ophthalmology, dermatology, and cardiovascular and metabolic diseases.

Expanding these fields is a top priority for the company due to their tangible impact on outcomes. Additionally, he pointed out that the growing momentum in diabetes treatment reflects how the company’s portfolio is evolving to address emerging health needs and prevalent chronic diseases in the region.

He emphasized that the Q3 results reaffirm the company's commitment to delivering sustainable, long-term value to stakeholders while continuing to enhance its portfolio and operational efficiencies, asserting that Jamjoom Pharma is well-positioned for future growth.

Operationally, the company is leveraging its extensive reach to meet increasing demand. With expanded capacities in Jeddah and Egypt, it is now better prepared to support a wider patient base more efficiently than ever, noting that the main facility in Jeddah operates at a utilization rate of over 97%.

The expansion of production across its new facilities, particularly in ophthalmology, reflects Jamejoom Pharma's forward-looking approach to building a flexible supply chain, underscoring its commitment to ensuring continuous access to essential medicines.

Regarding the joint venture in Algeria, Hosni remarked that it positively contributed to the company’s financial results in the third quarter.

He stated that this venture is not just a financial gain but a fundamental part of Jamjoom Pharma's growth strategy in North Africa, helping to establish a base for the company to build upon in neighboring markets.

He anticipates that Jamjoom Pharma's presence in Algeria will be a key driver of the company's regional impact in the coming years.

Looking ahead to the fourth quarter, Hosni indicated that the company remains optimistic about maintaining its growth momentum, projecting revenue growth between 15% and 18%, with an EBITDA margin ranging from 31% to 32.5%.

He added that the company is focused on launching new products and exploring new partnerships to enhance its long-term market reach, which will support strong demand and bolster its goals and performance.

As the year comes to a close, the company will continue to concentrate on agility, innovation, and efficiency to build on its success and deliver high-quality healthcare solutions to communities.

Jamjoom reported a net profit of SAR 304.9 million for the first nine months of 2024, an increase of 23% from SAR 247.9 million a year earlier, with Q3 earnings at SAR 95 million, data available on Argaam showed.