Seminar on Birzeit Pharmaceuticals Company
The Department of Finance and Banking at the Faculty of Commerce and Economics held a seminar on Birzeit Pharmaceutical Company on 18 February 2010, in which the Director and Chairman of the Board of the Company, Mr. Talal Nasser Eddin, the Chairperson of the Department, Dr. Anees al-Hajeh, the event's coordinator, Fairouz Darweesh, and a number of faculty members and students have participated.
Mr. Talal overviewed the company, stating that it was founded in 1974 as a joint venture owned by 50 persons with a capital of $150,000, which grew in 1979 to become JD500,000 that reached up to JD12 million in 2009, and the number of shareholders has increased to become 1200, and the number of employees is 271.
Mr. Nasser Eddin explained how the company joined the Palestinian financial market in 2005, in order to ensure the company's full transparency in its work, management and distribution of profits, and the entry of foreign investors, especially since foreign investors usually do not engage in private shareholding companies, but after its inclusion in the market, a large number of external investors and foreigners have contributed.
Mr. Nasser Al-Din explained how the company has developed and prospered , despite many obstacles encountered, most importantly foreign and Israeli competition, where the company initially was prohibited from exporting its goods abroad and to Israel, while Israel was allowed to enter the local market, resulting in strong competition, But the company was able to continue to grow, and has invested a proportion of its profits in internal and external investments to maintain its capital , including Alrafah Microfinance Bank and bought a pharmaceutical company in Algeria, in addition to the adoption of a profit distribution policy, knowing that the highest percentage of profits that have been distributed did not exceed 40% of its total profits..