Moroccan pharmaceutical group Laprophan has secured regulatory approval for an initial public offering (IPO) worth up to 2.22bn dirhams. The company will offer shares at 341 dirhams each, with subscriptions open from 9 to 17 November 2026. The regulator approved the listing on Wednesday, 28 October, under reference VI/EM/033/2026.
The offering has two parts. Laprophan will issue new shares to raise about 1.4bn dirhams, while private equity investors MC IV Pharma and MC IV Morocco will sell existing shares worth up to 822.56m dirhams.
Together, the two sales will put 37.64% of the company’s capital and voting rights in public hands. CFG Finance is managing the operation as financial adviser and global coordinator.
Laprophan plans to use the money raised from the new shares to strengthen its finances, increase production capacity, support its development and fund further acquisitions. The proceeds from the sale of existing shares will go to the investors selling them.
The listing comes as the group expands in Morocco and abroad. In October 2026, Laprophan signed an agreement to acquire Corporate Investment Holding, the parent company of domestic drugmaker Polymedic. The deal still needs approval from the Competition Council.
Earlier in 2026, Laprophan bought a 60% stake in Swiss pharmaceutical company Rivopharm. The deal gave it access to manufacturing operations in Switzerland and distribution businesses in Germany, the UK and Lithuania.
The group has also acquired Amanys Pharma, which specialises in beta-lactam antibiotics, oncology and specialist treatments, and a 75% stake in Botanic Pharma, which makes nutraceuticals and food supplements.
The group is preparing to add a sterile injectable medicines facility in Aïn El Aouda, Morocco, which is scheduled to begin operating in 2027. The site is expected to have an annual capacity of about 30 million units.
Its Swiss facility in Manno, operated by Rivopharm, can produce about 35 million units a year. The group’s international manufacturing operations include facilities with Swissmedic, European Good Manufacturing Practice and US Food and Drug Administration certifications.
Laprophan’s expansion comes as the Moroccan government seeks to increase domestic medicine production and reduce reliance on imports as part of wider healthcare reforms and efforts to extend universal health coverage.
The pharmaceutical sector is also seeing more consolidation. Rival drugmaker Sothema announced plans in late October 2026 to acquire all of Ramo Pharm.
The Laprophan offering will give investors an opportunity to buy into a company that has traditionally operated as a privately held, family-controlled business backed by private equity funds managed by Mediterranean Capital Partners.
Dr Abderrahim Bennis founded Laprophan in 1949. The company has since grown into an international pharmaceutical group with four manufacturing facilities across Morocco and Switzerland.
Its factories can produce more than 180 million commercial units a year, including medicines sold in individual packs. The group has more than 76,500 square metres of built industrial space and employs about 1,450 people.
Laprophan holds more than 1,300 marketing authorisations covering 15 therapeutic areas, allowing it to market medicines across a range of treatments. Its products are distributed in more than 50 countries.
The company has four patents and more than 50 molecules in active development. Its research and development work takes place in Morocco and Switzerland, while its biotechnology subsidiary, Ibyltech, works with Mohammed VI Polytechnic University (UM6P) and MAScIR.
Laprophan has also introduced SAP S/4HANA RISE business software across its subsidiaries and uses internal artificial intelligence tools, known as SuiteLink, to improve operations.
