Afric Phar has been acquired by Pharma Capital

January 2025 — Pharma Capital S.A. has acquired a significant stake in the Moroccan pharmaceutical group Afric Phar, which includes leading companies Afric Phar, Pharmis and Partner Lab, from the Chaoui family, in one of the largest transactions in the Moroccan pharmaceutical sector.

Founded in 1966, Afric Phar is a privately owned Moroccan pharmaceutical company that has evolved into a fully integrated operation, spanning production, marketing, sales and distribution. As one of the first pharmaceutical companies established entirely by Moroccan pharmacists, it has built a strong reputation within the local market. Specializing in the import, manufacturing and distribution of generic drugs, Afric Phar serves a wide range of therapeutic areas. The company has also expanded its product portfolio and market reach through strategic partnerships with leading European and multinational laboratories under licensing agreements.

Pharma Capital, part of the Sefrioui group, is a Moroccan joint-stock company. The company focuses on investments in the pharmaceutical sector and was established as a dedicated vehicle to execute this specific investment strategy.

The Chaoui family, founders and owners of Afric Phar, have been instrumental to the company’s success, guiding it through decades of growth and innovation in Morocco’s pharmaceutical sector.

Our role in the transaction

Oaklins’ team in Morocco acted as the sell-side advisor for a group of the selling shareholders, responsible for structuring, executing and negotiating the transaction.