Proparco and SPE AIF I acquire Saham Pharma, the leading antibiotics manufacturer and main hospital provider in Morocco

Morocco
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medical factory and production indoor
Through the acquisition of Saham Pharma, Proparco and the private equity fund SPE AIF I are supporting the company’s development strategy. This operation is an example of Proparco’s strong commitment to local production and access to high-quality essential drugs in Morocco and Africa.
Client presentation

Saham Pharma is a pharmaceutical production and distribution company based in Morocco. It is specialized in the production of antibiotics for the general public and the distribution of niche products for the hospital sector (plasma factors for treating hemophilia, chemotherapy supplements, painkillers). Saham Pharma is one of the main suppliers of antibiotics and specialty drugs in Morocco, with a significant impact on the health of the population of this country.

Project description

The operation involves the acquisition of Saham Pharma, alongside the private equity fund SPE AIF I, to support its management for the implementation of a development strategy in Morocco and Sub-Saharan Africa. Proparco’s USD 12m equity investment in this drug manufacturer, processor and distributor should strengthen the company and allow it to develop its export business, especially in West Africa.     

Project impact

Through this project, we estimate that Saham Pharma will contribute to:

  • Improving access to antibiotic drugs and other “life-saving” pharmaceuticals (blood products, painkillers and cancer treatments) reimbursed by the social security system for some 750,000 new patients over the next five years, with a total of over 4.5 million people served annually within five years; 
  • Generating a sixfold increase in the company’s antibiotic exports to West Africa over the term of the financing;
  • Supporting over 170 direct jobs (including 63 held by women) and over 700 indirect jobs over the next five years. 
04/03/2020
Date of signature of the project
Sectors
Morocco
Location
Financing tool
11 030 000 Euros
Amount of funding
USD 12m equity investment
Financing details
Saham Pharma
Client
CES