DIC’s Globalpharma captures 1.8% of Saudi pharmaceutical market

Globalpharma branch

Globalpharma, a UAE-based pharmaceutical manufacturer owned by Dubai Investments Co. (DIC), acquired a 1.8% market share in Saudi Arabia's pharmaceutical market.

The company reported a 139.5% year-over-year (YoY) sales increase in May, reaching $12.6 million, compared to $5.2 million in the same period of 2023.

During the first five months of this year, Globalpharma's sales grew by 78.6% YoY, totaling $33.2 million. From June 2023 to May 2024, sales hit $70.3 million, a 44.7% YoY increase.

This milestone aligns with Globalpharma’s strategy to strengthen its presence and expand its market share in Saudi Arabia.