- Outshines the industry growth rate of 12%
- Records 43% organic growth in the Consumer Division
Dubai, May 25, 2015: Al Ittihad Drug Store (IDS), one of the UAE's leading pharmaceutical distributors, has announced its financial results for the first quarter of the year 2015 wherein the company has posted a 28% growth in total sales turnover as compared to the first quarter of 2014. This is a significant step in the right direction for the company, as the overall industry recorded a growth of 12%.
Apart from the increase in total sales turnover, IDS has also witnessed a remarkable rise in the Consumer Division by taking a leap of 43%. This positive development is the result of organic growth from the existing portfolio and the launch of new products. The company has also surpassed its own quarterly records with more than 1.3 million units packed, shipped and delivered in the market.
IDS has partnered with two new principals, namely Fillerina, an innovative product in the anti-aging category, and Medcoll, a premium Collagen product, and also launched an innovative line extension for PIC Insulin Pen Needles. IDS was the first company to launch a 32G pen needle in 2007, and by using this expertise they have launched Insupen 33G which is the smallest pen needle in terms of diameter and length.
Speaking on the occasion, Mr. Ahmad Tabari, Group CEO, said, “We are extremely pleased to announce the outstanding growth results for Q1 2015. The numbers clearly show the passion and dedication of the IDS team and their persistent efforts in breaking their own records, quarter after quarter and year after year. We are in the process of signing up with more principals for the rest of the year and we look ahead to set a new benchmark in the annual growth this year.”
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