EUR 356.26 For Business Accounts Only

SOTHEMA : An operator on the lookout for opportunities

We recommend accumulating SOTHEMA shares considering:

• The diversification of its turnover, through the marketing of more than 300 references oriented mainly to the high-margin private market;
• The important orientation towards medicine manufacturing, allowing it to protect itself from exchange risks and secure its supplies;
• The penetration of new segments in 2017 through the expansion of its activity towards anti-cancer biosimilars, a new market expected to generate MAD 187.9m by 2020 and MAD 866m by 2023, half of which is to be intended to the African market;
• The investments in R&D, thanks to its acquisition of an equity stake in ADVANCED SCIENTIFIC DEVELOPMENT (ASD). The commercialization of the 1st Moroccan antibiotic developed by its subsidiary is expected to be in 2020;
• The consolidation of its position at the international level through the commercialization of new drugs in partnership with two Indian laboratories via its subsidiary WEST AFRIC PHARMA located in Senegal;
• The laboratory position as the sole insulin producer that could be employed to target markets where diabetes rates are as high as in Morocco.