Jamjoom Pharma Lifts 9-Month Profit 5.1% but Cuts Full-Year Revenue Guidance
Net profit reached $110.5 million on 7.1% revenue growth, while the company trimmed its 2026 revenue growth forecast to 7–9%.
Jamjoom Pharma reported a 5.1% increase in net profit for the first nine months of 2026, reaching $110.5 million (SAR 416.05 million). Revenue growth, a wider gross margin, manufacturing efficiencies and a better mix of products and geographies drove the gain.
Revenue rose 7.1% year over year to $340 million (SAR 1.28 billion). The company pointed to continued expansion in Saudi Arabia, a strong showing in Iraq and the Gulf, and volume growth in ophthalmology, dermatology and cardiometabolic treatments.
Operating profit climbed 7.5% to $115 million (SAR 433.6 million), while EBITDA rose 7.2% to $126.6 million (SAR 477 million). Earnings per share advanced 5.1% to $1.58 (SAR 5.94). Total assets stood at $634.5 million (SAR 2.39 billion) at the end of September, against $544.2 million (SAR 2.05 billion) at the close of 2025.
The profit result came alongside a reduction in the company's own outlook. Jamjoom Pharma cut its full-year 2026 revenue growth guidance to 7–9%, down from an earlier forecast of a 10–12% compound annual growth rate across 2026 and 2027. It attributed the revision to a softer Saudi pharmaceutical market, destocking in distribution channels, the timing of new product launches and budget constraints.
Chief executive Tarek Hosni said the nine-month performance reflected the resilience of a diversified portfolio and the strength of the operating model. He cited market-share gains across strategic therapeutic areas and continued manufacturing efficiencies as the basis for profitable growth in what he called a "relatively fragile operating environment."
relatively fragile operating environment.
Saudi Arabia remains the company's largest market and its biggest contributor to absolute revenue growth, posting $222 million (SAR 836.2 million), up 5.3%. Strategic brands in dermatology, cardiometabolic and ophthalmology supported that expansion.
The Gulf region grew 11% to $46.2 million (SAR 174.2 million), helped by momentum carried over from the first half. Private retail sales in the UAE rose 27.54%, against 11.9% growth for the UAE market as a whole. Government tender work offset geopolitical conditions weighing on private markets in Bahrain and Kuwait.
Iraq was the fastest-growing market, up 15.6% to $32 million (SAR 120.4 million), on strong ophthalmology, dermatology and primary care sales. Egypt revenue rose 5.7% to $16.5 million (SAR 62.3 million), supported by dermatology and by resilience in the face of difficult trading conditions, public-sector spending limits and local currency depreciation against the Saudi riyal.
The gap between reported growth and the lowered forecast is the number to watch. Growth is increasingly arriving from Iraq and the Gulf, which are expanding faster than Saudi Arabia, while the largest market grows at a slower pace and the channel absorbs less stock.
Hosni ranked 20th on a 2026 list of the Middle East's top healthcare executives and 60th on a 2026 ranking of the region's 100 leading chief executives.
Jamjoom Pharma shares traded at $32.5 (SAR 122.4) on the Saudi stock exchange at 1pm Saudi time on Thursday, giving the company a market capitalisation of $2.27 billion (SAR 8.56 billion).
