Pharma Capital, owned by businessman Anas Sefrioui, is set to buy Servier’s Moroccan businesses, pending approval from the Competition Council. The deal covers 100% of Servier Maroc SA and Servier Maroc Investissements SAS. The two companies are part of French pharmaceutical group Servier.
Servier Maroc SA makes, distributes and sells medicines. Its main areas include heart and metabolic diseases, venous diseases and cancer. Servier Maroc Investissements owns and manages the group’s commercial and industrial properties.
The Competition Council is now reviewing the deal. It published details of the proposed acquisition on 23 July and gave interested parties until 3 August to submit comments. The council has not yet made a final decision.
The value of the deal has not been disclosed.
The acquisition would further expand Pharma Capital’s presence in the pharmaceutical sector.
The group entered the sector more strongly two years ago after receiving approval to take control of Afric-Phar, Pharmis and Partner Lab.
Pharma Capital now owns 95.35% of Afric-Phar and 55% of Pharmis, as well as a stake in Partner Lab.
The Servier deal would give the group more pharmaceutical manufacturing, distribution and sales operations. It would also add Servier’s products and industrial property assets to its portfolio.
Servier sells medicines for conditions such as high blood pressure, diabetes and venous disorders. Its products include Coveram, Triplixam, Diamicron and Daflon. The group also has cancer treatments such as Lonsurf and Oncaspar.
Servier has operations in more than 150 countries and annual revenue of more than €5.3bn.
The pharmaceutical market in Morocco is worth about 17bn dirhams a year. Local manufacturers meet around 65% of demand, while imported finished medicines account for the remaining 35%.
The government is also pushing to increase local production as it expands compulsory health insurance and seeks greater control over the supply of essential medicines.
Pharma Capital’s acquisition of Servier’s Moroccan businesses will go ahead only if the Competition Council gives its approval.
