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news.Julphar, the Gulf Pharmaceutical Industries, has announced its intent to commence the production of insulin in the first quarter of 2012 at the new facility in Ras Al Khaimah.
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The factory that is worth Dh500m ($136.92m) is believed to have a capacity of producing 1,500kg and 50 million vials of the raw insulin every year.
The main motive behind producing insulin in the manufacturing plant is to reduce the drug’s price as large number of people are being affected by diabetes.
In 2011 Julphar’s sales hit an all time high to Dh1,024bn ($280.42) indicating a rise of 11.3% as compared to the sales in 2010.