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UAE: Julphar Pharma in crisis

Shares in Julphar Pharmaceuticals have been suspended on the Abu Dhabi Securities Exchange (ADX), following a saga in which the disastrous handling of product suspensions in Saudi Arabia last year jeopardised the company’s wider marketing and operations. Although publicly quoted, members of Ras Al-Khaimah’s royal family have retained a large stake in the company, which was founded in 1980 by RAK’s late ruler Sheikh Saqr Bin Mohammed Al-Qasimi. The share suspension led to the resignation on 17 April of company chairman Sheikh Faisal Bin Saqr Bin Mohammed Al-Qasimi and his son, Julphar vice chairman Sheikh Abdullah Bin Faisal Al-Qasimi.

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