2023-11-12 07:57:46
In a landmark operation for the Moroccan pharmaceutical sector, Laboratoires Laprophan announced the acquisition of Amanys Pharma, formerly Saham Pharma, a company formerly owned by the former minister of industry and Moroccan tycoon, Moulay Hafid Elalamy. This acquisition, which remains subject to regulatory approval, represents a significant step in the aggressive expansion strategy of Farid Bennis, the emblematic CEO of Laprophan.
Seven months after raising 75 million euros and one week after the conclusion of an extensive partnership in Africa with Sinopharm, the world leader in health professions, Farid Bennis announces a great strategic operation.
Laprophan, pillar of the pharmaceutical industry in Morocco since 1949, took control of the former Moroccan subsidiary of the British laboratory GSK (GlaxoSmithKline), bought in 2011 by the Moroccan tycoon and former minister, Moulay Hafid Elalamy. The transaction would be around 70 million euros.
For this transaction, Laprophan was advised by ASAFO & Co. for legal advice and by Deloitte for financial advice. For its part, SPE Capital was supported by DLA Piper (legal advisor) and KPMG (financial advisor).
Renamed Saham Pharma, the laboratory which engaged in the manufacture of antibiotics, remained within the fold of MHE for nine years. In 2020, as part of its disengagement from the health sector in Morocco, MHE sold Saham Pharma to SPE Capital Partners. The laboratory was then renamed Amanys Pharma.
Amanys Pharma continued to distinguish itself in the production of antibiotics, while maintaining the distribution of drugs, notably on behalf of GSK. The company has experienced sustained growth, an expansion of its industrial capabilities, and a notable improvement in its governance standards.
A continental ambition and complementary expertise
By deciding to acquire Amanys Pharma, Ex GSK Maroc and Ex Saham Pharma, Farid Bennis achieved a masterful move, living up to his ambition.
Laprophan and Amanys complement each other geographically, the industrial units of the first are in the Casablanca region and the second in that of Rabat. These are also two complementary laboratories in terms of specialties.
In addition, Laprophan’s research and development expertise, so dear to Farid Bennis, since he initiated the creation of the first R&D department in the Moroccan pharmaceutical sector, will give the new group an undeniable competitive advantage.
Laprophan and Amanys Pharma will be able to act in synergy to better meet the growing health needs in Morocco and on the continent.
« I am convinced that this merger between two pharmaceutical players with real synergies will better serve the interests of patients in Morocco and more broadly in Africa. », declared Farid Bennis, who remains focused on his vision of a committed company.
Laprophan, with this acquisition, positions itself not only as a key player in Morocco but also as a serious competitor in the African market, strengthening its presence and influence in a constantly evolving sector.
Timeline of the Laprophan-Amanys merger
MHE and Proparco buy GSK Maroc for 21.5 MDH
Saham Pharma, a subsidiary of Moulay Hafid Elalamy’s Saham Group intended to accommodate investments in the health sector, invested 21.5 million dirhams for the purchase of the activities of GSK Morocco. MHE was particularly interested in the production lines dedicated to GSK’s Duplamox antibiotic. Proparco, the private sector financing arm of the French Development Agency (AFD) also participated by acquiring a minority stake. GSK Maroc becomes Saham Pharma.
MHE sells Saham Pharma to SPE Capital Partners
Continuing its disengagement from the health sector in Morocco and after having sold two radiology centers as well as the Marrakech Private Hospital in 2018, Moulay Hafid Elalamy sold Saham Pharma to SPE Capital Partners, a private equity firm. Saham Pharma becomes Amanys Pharma
Laprophan raised €75 million
Farid Bennis takes over the presidency of Laprophan and raises €75 million by opening 24.59% of Laprophan to the private equity company Mediterrania and its partners Proparco, FMO and DEG have decided to acquire.
Laprophan enters into a strategic alliance with continental reach with Sinopharm
Laprophan and the world leader in health professions have signed a partnership for the manufacture, import and sale of medicines, active pharmaceutical ingredients, medical devices and consumables as well as medical equipment intended for the African market, more particularly in West Africa, Central Africa and some North African countries.
Laprophan announces the acquisition of Amanys Pharma for €70 million
Laprophan announces the acquisition of Amanys Pharma from SPE Capital and Proparco, subject to obtaining the required regulatory authorizations.
The Moroccan pharmaceutical sector, pillar of the economy and African leadership
In the Moroccan industrial landscape, the pharmaceutical sector stands out for its vitality and strategic importance. With the notable presence of domestic companies such as Laprophan, Cooper, Sothema, and others, as well as international giants like Sanofi Aventis, Bayer, GSK, Roche, and Bottu, the sector is a dynamic mix of local and global expertise. .
A driving force for employment, the Moroccan pharmaceutical sector employs 50,000 people, including 12,000 directly, with a supervision rate of 30%. Economically, it posted a robust turnover of 16 billion dirhams in 2019, contributing to 1.5% of national GDP and 5.2% of industrial GDP. Its annual added value is estimated at 4.6 billion dirhams.
Beyond these figures, the sector plays a key role in public finances, paying 0.5 billion dirhams in taxes. It is also a major player in foreign trade, with exports amounting to 1.2 billion dirhams, and shows a strong commitment to investment, injecting between 700 and 800 million dirhams annually over the last five years.
On the health front, the sector effectively responds to national needs for medicines. According to AMIP and the Ministry of Health, approximately 60% of the country’s medicine needs are produced locally, while the remaining 40% are imported. The sector is recognized for its alignment with international quality standards, being classified in the Europe zone (EU/WHO, GMP, GMP, ICH, ISO).
This remarkable performance places Morocco as one of the leaders in the pharmaceutical sector in Africa, highlighting its crucial role not only in the economy but also in the field of public health.
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