Life Science Insights Issue 19
Welcome to the latest edition of our industry newsletter.
Each month we bring you the latest news, advice, career opportunities and more for the Middle East & Africa Life Science industry.
Industry News:
?? Jamjoom Pharma logged net profits amounting to SAR 209.92 million in the first half (H1) of 2024, marking an annual plunge of 22.99% from SAR 170.67 million. Tarek Hosni, CEO of Jamjoom Pharma, commented: “Revenue growth reached 22.0% YoY in 1H 2024, driven by outperformance across our portfolio and key markets. The Gastrointestinal, Cardiovascular, and General Medicine segments showed robust momentum, whilst Ophthalmology and Dermatology segments continued their double-digit growth. Our new Anti-diabetic drugs are receiving excellent consumer and physician feedback,”.
?? Johnson & Johnson has agreed to acquire V-Wave, the maker of an implantable device to treat heart failure, in a deal worth up to $1.7 billion. The device, placed in the heart through a catheter-based procedure, has the potential to fill a treatment gap between medical therapies and highly invasive cardiac replacement procedures such as left ventricular assist device implantation and heart transplant.
?? Infinity Power and Masdar (Abu Dhabi Future Energy Company) officially signed a Power Purchase Agreement (PPA) with the Egyptian Electricity Transmission Company (EETC) to deliver a long-term supply of renewable energy generated by a landmark onshore wind project, located in Ras Ghareb, Gulf of Suez region. The signing of the Ras Ghareb wind farm expands Infinity Power’s presence in Egypt’s renewable energy sector, alongside its existing 252MW West Bakr wind farm. Mohamed Ismail Mansour, Chairman of Infinity Power, said: "We are excited to announce the construction of the Ras Ghareb wind farm, a project that symbolizes Infinity Power's steadfast commitment to advancing sustainable energy solutions. This initiative not only expands our footprint in Egypt but also signifies another big stride in bolstering our local impact in the renewables sector, creating valuable jobs. We remain committed to elevating our contributions to a cleaner, greener future.”
?? Julphar reported rsales for the first half of 2024 reached AED883.1 million ($240.4 million) representing a growth of 2.8%. In Q2, sales reached to AED444 million, marking a 9.5% growth compared to the previous quarter. Sheikh Saqer Bin Humaid Al Qasimi, Chairman of the Board, Julphar, said: "Serving millions of patients across therapeutic areas, we are confident that our growth mindset and focus on innovation, collaboration and geographical expansion will help us deliver continued positive impact to the healthcare sector and to the knowledge economy in the GCC and beyond. Our Growth Strategy 2030 guides our commitment to deliver excellence in the form of first-to-market products and value-adding medicines.”
?? TAQA Group and Japan-based JERA Company announced the financial closing of Najim Cogeneration Company Limited. The joint venture (JV) is a new industrial steam and electricity cogeneration plant that will produce electricity and steam for a petrochemical complex located in Jubail in the Eastern Province of Saudi Arabia. Farid Al Awlaqi, CEO of TAQA’s Generation Business, said: “This is our third generation project in the Kingdom of Saudi Arabia and we will be developing an advanced cogeneration steam and power plant using the latest highly efficient J-Class gas turbine technology in partnership with JERA.”
Next, let's move on to what the Kinetic team have been up to...
?? 10 Positions successfully filled across the MEA region:
领英推荐
Account Manager | Operations Manager | MSL | Senior HR Manager
IT Specialist | Administration Officer | Product Manager – Ophthalmology
Supply Chain Specialist | Logistics Manager | Learning & Development Manager
We're currently working on over 100 roles within Life Sciences across the Middle East and Africa; to view some of our open vacancies,?click here.
Career & Hiring news and advice:
That's all for now, see you in a few weeks! ??
Kinetic Business Solutions is a Middle East-based company that has been successfully providing a full range of recruitment solutions for leading organizations since 2012. The sectors we specialise in are: Pharmaceuticals | Chemicals & Manufacturing | Medical Devices | Energy & Sustainability | FMCG & Retail.
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