Moroccan businesswoman Lamia Tazi has recorded a $10.5-million bump in her stake in Marocaine Ste de Therapeutique (Sothema), Morocco’s leading pharmaceutical group, in the last two weeks thanks to the recent increase in the company’s share price.
Sothema is Morocco’s leading healthcare company, producing approximately 60 million pharmaceutical units per year and managing a diverse portfolio of 35 global laboratories that develop and sell products to Europe, the Maghreb, Sub-Saharan Africa, and the Persian Gulf.
Tazi, the chairperson and CEO of Sothema and one of the wealthiest investors on the Casablanca Stock Wxchange, owns a significant 8.4-percent stake in the leading healthcare company, which translates to 605,030 issued shares.
The company’s share price has increased 14.75 percent since the beginning of February, from MAD1,220 ($117.84) on Feb. 1 to MAD1,400 ($135.22) at the time of writing this report, amid widespread optimism on the Casablanca bourse.
Tazi, who derives the majority of her wealth from her 8.4-percent stake in Sothema, has seen the market value of her stake increase by MAD108.9 million ($10.52 million) since the start of the year, from MAD738.14 billion ($71.29 million) to MAD847.04 million ($81.81 million).
The recent surge in Sothema shares, which has boosted the market value of Tazi’s stake by $10.5 million, comes more than two months after the Moroccan company acquired a stake in Ziwig, a French startup that is revolutionizing medical diagnostics with ultra-advanced, dependable, and accessible devices for healthcare professionals.
While announcing the deal, the group stated that the collaboration with Ziwig will undoubtedly have an impact on both parties’ development, particularly in the European market, where Ziwig’s revolutionary device, the Ziwig Endotest, is widely distributed and used to provide hope to millions of women suffering from pelvic pain.