Less than two years after entering the Moroccan market, Indian pharmaceutical giant Biocon Biologics is gearing up to take its operations to the next level. Known globally for its expertise in biosimilars—pharmaceuticals derived from living organisms—the company is positioning its Moroccan subsidiary, Biocon Biologics Morocco, for a significant industrial leap.
Strategic investment and expansion
Biocon Biologics has injected 5 million dirhams into its Moroccan branch, signaling a shift from a purely commercial focus to establishing a robust pharmaceutical base. The expansion includes extending the subsidiary’s activities to encompass pharmaceutical manufacturing.
Although specific details about the industrial project remain under wraps, sources close to the company have revealed plans to construct a production site in Casablanca. This facility is expected to require an investment of over 100 million dirhams.
Current performance and future outlook
Presently, Biocon Biologics Morocco operates on a modest scale, reporting a revenue of just 4 million dirhams for the fiscal year ending June 30, 2024. Its portfolio includes a few key biosimilar products, such as Hertraz, Abevmy, Fulphila, Semglee, and Hulio.
However, the anticipated launch of its Casablanca facility is poised to transform the subsidiary’s operations, enabling it to expand its product range to address critical therapeutic areas, including cancer, diabetes, and autoimmune diseases. This strategic move could significantly boost revenues and establish Morocco as a key player in Biocon Biologics’ global supply chain.
A global leader in biosimilars
Founded in 1978 and headquartered in Bengaluru, India, Biocon Biologics has rapidly risen to prominence in the biosimilar space. The company has invested over $1 billion in research and development over the past two decades, resulting in the development of 20 new biosimilar products currently in advanced stages of development.
Biocon Biologics’ Moroccan expansion is part of its broader strategy to strengthen its presence in international markets while contributing to local healthcare ecosystems.
Morocco’s role in the vision
The decision to base production in Casablanca reflects Morocco’s growing appeal as a hub for pharmaceutical manufacturing in Africa. By investing in a local facility, Biocon Biologics is not only enhancing its production capacity but also contributing to the development of the Moroccan healthcare sector, with a focus on providing affordable, high-quality treatments.
