Greeting to All,
I am pleased that you have chosen to visit FARABI PHARMA website to learn more about our Company. FARABI has been faithfully serving the needs of physicians, patients and trade customers since 2004. FARABI is one of largest Iraqi pharmaceutical wholesalers and distribution companies.It is located in Baghdad – Iraq.
We are the one of the result oriented wholesalers and distributors of safe, innovative, branded, generics, cost effective pharmaceutical and biological products, medical devices, neutraceuticals, food and dietary products and herbal formulations that helps to improve the patient quality of life.
The Iraqi pharmaceutical industry has experienced remarkable growth in the country at 61 percent in the past five years. Over the past few years, political and security conditions in Iraq have improved significantly, which led to significant growth of the Iraqi economy, Iraq pharmaceutical market has experienced fast growth, both on the generic and originator drugs segments, compared to other developingmarkets, the volume of spending on pharmaceutical supplies reached about USD 1.2 billion in 2012 and is expected to rise during the 2015 to more than USD 2.0 billion.
Message of Chairman and CEO
Dr. Amer Qasim:
(Chairman and CEO)
Over the next 5 years, Iraq GDP is estimated to grow at a CAGR of 8.3%, reaching ~US$ 200b by 2018. However, Iraq healthcare sector is significantly still lagging behind MENA region. It is a well-accepted fact that to grow and prosper, Iraq companies will have to re-think the current business models and move to more global, innovation led growth. That is what we are attempting to build here at FARABI.
The FARABI of tomorrow will have a business presence in many markets of the MENA region across the fields of pharmaceuticals and biotechnology.
he Ministry of Health is seeking to import 1000 different types of medicines to fill the shortfall in the field and has allotted 26.6 percent of the total budget for this purpose. FARABI is fully focused to contribute in achieving this goal.
In Iraq, we are working towards retaining and growing our position of market leadership in key therapy areas with strong prescription driven sales, OTC, food supplementary drugs etc. We at FARABI open for partnering with International companies for distributing their products at Iraq and we whole heartily welcome the proposal for our evaluation and consideration.
Our strategy is straightforward. We aim to maximize the full potential of distributing the commercial brands, generic and biological products, be vigilant on expenses and remain active on the business development front.
Our strong financial position gives us the resources to achieve our goals. We remain focused on our mission of advancing patient care through the delivery of high quality pharmaceutical products for their treatment to improve the quality of life.
Last year FARABI Pharma has achieved sales of 8 million USD, and I am very pleased to see our momentum continuing in this year and we are confident that our best days as a Company are ahead of us. Last year, we faced loads of challenges and our team responded with timely and effective solutions which are now yielding more desirable results.
I would like to acknowledge and thank my colleagues at FARABI for all their fine efforts. I would also like to thank everyone who has been directly or indirectly involved in supporting our efforts to make FARABI name synonymous to trust and quality. We are committed to becoming reliable, respectable company.
Thank you very much for your continued support.
Sincerely,