News from 2023-05-16 / DEG
DEG invests in Moroccan pharmaceutical company Laprophan
It is often difficult for people in emerging markets and developing countries to gain access to high-quality healthcare provision or health insurances. In Morocco, triggered by the generalisation of its compulsory health insurance scheme, the number of beneficiaries has doubled in the last twelve months, reaching 22 million people. This also leads to a sharp rise in demand for medical products and drugs.
The pharmaceutical company Laprophan, founded in 1949, produces and distributes its own medical products and generic drugs and provides patients with medicines for over 40 specialities. In view of the increased demand in Morocco the company plans to expand and speed up its production capacities, thus contributing to better healthcare provision. In addition Laprophan promotes the local market development and income, for example through the payment of salaries and local taxes.
To support the company’s growth and expansion plans, DEG, in conjunction with its long-term partner Mediterrania Capital Partners (MCP), is now investing EUR 14.5m in Laprophan. MCP leads the investment, totalling to EUR 73.5m. Further investors are the development finance institutions FMO and Proparco.