Jeddah, Saudi Arabia— 19th August — Based on its recent analysis of the KSA emerging generic pharmaceuticals market, Frost & Sullivan recognizes Saudi Arabia-headquartered Jamjoom Pharmaceuticals with the 2020 KSA Company of the Year Award for its operational excellence and expanded product portfolio and footprint. The company leads the KSA market by adopting sustainable business models and clear growth strategies. Implementing best practices, such as the corporate governance and setting up their own R&D center, recruiting qualified staff, strictly adhering to regulatory systems, and ensuring scalability, the company has established itself as the pharma partner of choice in the KSA.
“Despite a particularly challenging 2019, Jamjoom Pharmaceuticals recorded 4% year-on-year growth and maintained its position as one of the top-ranked pharma companies in the KSA,” said Dr. Suhasini, Associate Director – Transformational Health. “Right from the start, it focused on building a world-class manufacturing facility. Its building design, layout, selection, and installation of equipment; plant validation; and other technical processes met the most stringent international industry standards. Owing to its strategic diversification of specialty product lines and accelerating growth in export markets, Jamjoom Pharmaceuticals has been able to expand its manufacturing facilities and grow organically.”
Jamjoom Pharma is aiming to continue its journey of success, by continuously re-investing in cutting edge, state-of-the-art technologies, systems, people and facilities, to meet world-class quality standards and continue to produce products that meet and exceed the international standards. This is in line with its vision to become ‘A top-3 regional, research-driven branded generic pharmaceutical company. In addition, it works in line with the KSA Government’s Vision 2030 to achieve excellence in local manufacturing and provide the best in class, top of the range of of medicines. Jamjoom Pharma’s product portfolio is broadly classified into Dermatologicals, Ophthalmics, Gastrointestinal tract (GIT), Cardiovascular drugs (CVD), General Medicine (GM), and OTC product lines. Among these, the Ophthalmic and Dermatological lines have the highest market share and have historically been its most successful product lines.
Furthermore, to gain market share rapidly, Jamjoom Pharmaceuticals entered new markets with a successful, scientifically-supported methodology. It adopted a rationalized strategy to create customer demand by constantly developing high quality, superior formulations for normal wellbeing, whether Pharmaceuticals or Nutraceutical supplements, and combining it with intensive medical promotion. Besides raising the efficiency of the field force, the company also focused on expanding its product range, to cope with changing market dynamics.
One of the projects Jamjoom is particularly proud of is represented by the Jamjoom Pharma Academy, a state-of-the-art educational and training center with full access to Jamjoom Pharmaceutical’s R&D and quality control labs equipped with the latest manufacturing equipment and analytical techniques. This project is expected to be functional by the end of 2020.
“Jamjoom Pharmaceuticals has one of the largest qualified team of sales representatives in Saudi Arabia. This enables it to cover many doctors and hospitals,” noted Dr. Suhasini. “Overall, the company’s employee-friendly work culture, commitment to creating a strong brand image, participation and active involvement in KSA‘s Vision 2030, and emphasis on localization are expected to further accelerate its growth over the next two to three years.”
Each year, Frost & Sullivan presents a Company of the Year Award to the organization that demonstrates excellence in terms of growth strategy and implementation in its field. The award recognizes a high degree of innovation with products and technologies and the resulting leadership in terms of customer value and market penetration.
Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.
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About Jamjoom Pharmaceuticals
Jamjoom is a GMP manufacturer and marketer of pharmaceutical products, over the counter medicines and health-related consumer products. It is considered one the fastest-growing company over the last decade; its core strategy is specialty line concept which enables Jamjoom Pharma to have a leading position in segments like Dermatology, Ophthalmology, GIT, and CVS.
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