Marocaine Ste de Therapeutique (Sothema), a Moroccan pharmaceutical group led by pharma tycoon Lamia Tazi, is on track to deliver another excellent performance at the end of its 2022 fiscal year after posting a double-digit increase in revenue in the first six months of 2022.
Sothema’s consolidated revenue climbed by more than 18 percent in the first half of the fiscal year, from MAD973 million ($92.1 million) during the same period of 2021 to MAD.15 billion ($108.9 million).
The double-digit increase in revenue was driven by higher sales in the first half of 2022, which rose by 16.5 percent from MAD985 million ($93.3 million) to MAD1.147 billion ($108.6 million).
The robust top line growth was aided by a significant contribution from one of its subsidiaries, West Africa Pharma, which reported a 16.9-percent increase in sales from MAD497 million to MAD581 million.
While commenting on the financial performance, Tazi, the group’s CEO and chairman, stated that Sothema is consolidating its growth momentum due to its portfolio of differentiated products, worldwide expansion plan, and cost management techniques.
“At the end of June 2022, we led our growth with a disciplined management of expenses and the extent of our commercialization efforts on the Africann continent, Middle East and Europe,” she said. “The emerging market of Senegal strongly contributed to our performance achieved by our subsidiary, West Africa Pharma, which reported impressive performance.”
Sothema produces more than 60 million units of pharmaceuticals every year under the leadership of Tazi, a successful business leader who owns 3.93 percent of the group.
Under the Sothema brand, the renowned Moroccan businesswoman oversees a broad portfolio of 35 global laboratories that manufacture and sell commodities throughout Europe, the Maghreb, Sub-Saharan Africa, the Middle East, and the Persian Gulf.