Jordan Times
Sunday, September 19, 2004
Pharmaceutical industry
targets $1b in sales over next ten years
AMMAN (Petra) — The strategic aim of the local pharmaceutical industry is to
bring sales up to $1 billion over the coming ten years, according to Mohammad
Fityani, president of the Federation of Jordanian Drug Manufacturers.
Fityani indicated that the federation seeks to place pharmaceuticals at the top
of Jordan's exports with 50 per cent of the sales going to the US and the
European markets.
Noting that the pharmaceutical industry currently ranks in third place after
textiles and potash, he pointed out that the capital investment in the drugs
sector exceeds $400 million when the regisered capital stands at $225 million.
Production in 2002, the federation president said, has surpassed the $275
million mark which represents four times the $68 million output volume in 1991.
Fityani estimated the value of pharmaceutical exports at $215 million or about
80 per cent of the overall output putting production for the local market at
over $60 million. Sales of companies affiliated to drug manufacturing industries
was valued by Fityani at $175 million.
The federation chief indicated that the local pharmaceutical industry is
currently registered in about 60 countries, including the United States and the
European Union, noting that the main and basic export markets in the Middle East
and North Africa are Iraq, Algeria, Libya and the Arab Gulf states.
“After falling to $185 million in exports to Iraq last year due to the unstable
situation there, exports have picked up during the first four months of this
year to 27 per cent or about $80 million,” Fityani said.
The pharmaceutical industry, which started in 1962, employs around 4,500
workers.
Jordan's drug companies are linked to or operating under licence in cooperation
with world known firms abroad besides working in partnership or in the form of
subsidiaries with firms in Arab states, Europe and north African countries, said
Fityani.
The federation chief remarked that Jordan ranks second, after France, in
pharmaceutical exports to Algeria and that drug exports to Romania accounts for
80 per cent of the Kingdom's entire exports to that country.
The drug manufacturing industry is currently focusing attention on strengthening
and boosting exports in the Middle East and North Africa and increasing
scientific research and development activities to further improve quality and
introducing new production lines as well as exploring new markets in US and
Europe, stressed Fityani.
Underlining the importance of public-private sectors joint efforts to boost
exports, Fityani expressed hope that the Jordanian embassies abroad would be
involved to help market Jordan-made drugs and at the same time attract new drug
investment to Jordan which enjoys high expertise in this field.