Moroccan pharma tycoon Lamia Tazi has seen the market value of her stake in Marocaine Ste de Therapeutique (Sothema) slump by more than $15 million in barely five months as shares in the Casablanca-based pharmaceutical company dipped significantly.
According to data tracked by Billionaires.Africa, the Moroccan business executive, who ranks as one of the richest businesswomen in the region, has seen the market value of her stake in Sothema decline by MAD151.86 million ($15.59 million) in the past 137 days as investors trimmed down stakes in the pharma firm as part of a strategic move to reduce stakes in risky assets.
Sothema is Morocco’s leading healthcare company, producing approximately 60 million units of drugs per year and operating a diverse portfolio of 35 multinational laboratories that produce and export goods to Europe, the Maghreb, Sub-Saharan Africa, and the Persian Gulf.
Tazi, the CEO and chairperson of Sothema and one of the most affluent investors on the Casablanca Stock Exchange, holds a substantial 8.4-percent stake in the leading healthcare company, which corresponds to 605,030 issued shares.
As of press time on July 19, Sothema shares were trading at MAD1,199 ($123.1), 17.31 percent more than their opening price on March 3, 2023, on the Casablanca bourse.
Shares in the Moroccan pharmaceutical company have lost nearly 17.31 percent of their value since the start of March, falling from MAD1,450 ($148.85) on March 3 to a price of MAD1,199 ($123.1) at the time of writing.
As a result of the double-digit percent decline in Sothema shares, the market value of Tazi’s stake in the company has dropped from MAD877.29 million ($90.07 million) on March 3 to MAD 725.43 million ($74.48 million) at the time of writing this report.
This equates to a total loss of MAD151.86 million ($15.59 million) to the leading businesswoman, who is one of the richest investors on the Casablanca bourse.
