Sothema, Morocco’s leading pharmaceutical company, expanded its international footprint in 2024, with a strong focus on the Iraqi market. A strategic partnership with Iraq’s Ministry of Health led to the registration of 25 new products and the supply of morphine, addressing the country’s growing demand for essential medicines.
This move is part of Sothema’s broader strategy to strengthen its presence in global markets. In 2024, the company’s export sales surged by 18.2%, driven by successful tenders and rising demand from Gulf Cooperation Council (GCC) countries. At the same time, Sothema reinforced its partnerships with national drug procurement agencies in Senegal and Mauritania, further expanding its reach in West Africa.
Looking ahead, Sothema is eyeing East Africa for its next phase of growth. Discussions are underway to establish a manufacturing facility in the region, with a focus on high-value medicines, particularly in oncology and diabetes treatment. This initiative aligns with the company’s ambition to become a major player across the African continent.
Sothema’s international momentum translated into strong financial performance, with consolidated revenue reaching 2.8 billion dirhams in 2024, marking a 13.3% increase from the previous year. The fourth quarter alone generated 777 million dirhams, up 10.4%, driven by rising demand for medication, the expansion of Universal Health Coverage, and the launch of new treatments for diabetes and hypertension.
Oncology remains a strategic priority, particularly with the dry-form drugs developed by Sothema’s subsidiary, Axess. Other therapeutic areas, such as psychiatry, cardiology, and pain management, also posted strong growth. Additionally, contract manufacturing rose by 10%, fueled by increasing demand for gel syringes and injectable products. Hospital sales also showed significant growth, reinforcing Sothema’s position in the clinical sector.
Innovation was at the core of Sothema’s 2024 strategy, with 18 new products launched, including two in the final quarter. The company also filed 20 new Market Authorization (MA) applications and secured 27 approvals, underscoring its commitment to pharmaceutical research and development.
To support its expansion, Sothema invested 40 million dirhams in the fourth quarter, bringing its total annual investment to 81 million dirhams. These funds were allocated to infrastructure expansion and the acquisition of a new machine for advanced pharmaceutical formulations.
Despite a 14.4% increase in net debt, reaching 507 million dirhams, Sothema maintains a well-balanced financial structure that allows it to sustain its growth while keeping debt at manageable levels.
With a strong international presence, continued investment in innovation, and a solid financial performance, Sothema is positioning itself as a key player in Africa’s pharmaceutical industry, ready to take on new markets and challenges in 2025.
