Amanze Chinonye
Moroccan billionaire Anas Sefrioui is expanding beyond real estate into pharmaceuticals, with his investment company, Pharma Capital, seeking to acquire the Moroccan businesses of French drugmaker Servier, subject to regulatory approval.
The proposed transaction covers 100% of Servier Maroc SA and Servier Maroc Investissements SAS, according to Morocco’s Competition Council, which published details of the deal on July 23, 2026.
Join our WhatsApp ChannelThe council invited interested parties to submit comments by Aug. 3 and has yet to issue a final decision. The value of the transaction has not been disclosed.
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Servier Maroc SA manufactures, distributes and markets pharmaceutical products, with a portfolio focused on cardiovascular and metabolic diseases, venous disorders and oncology. Servier Maroc Investissements SAS owns and manages the group’s commercial and industrial property assets in Morocco.
If approved, the acquisition would give Pharma Capital control of an established pharmaceutical manufacturing, distribution and sales platform, significantly expanding its presence in Morocco’s healthcare industry.
The move builds on Pharma Capital’s earlier expansion into the sector. Two years ago, the company received approval to take control of Afric-Phar, Pharmis and Partner Lab. It now owns 95.35% of Afric-Phar and 55% of Pharmis, alongside a stake in Partner Lab.
The Servier transaction would add established products, manufacturing capacity and industrial assets to those holdings, further broadening Pharma Capital’s pharmaceutical operations.
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Servier markets medicines for conditions including hypertension, diabetes and venous disorders. Its products include Coveram, Triplixam, Diamicron and Daflon, while its oncology portfolio includes Lonsurf and Oncaspar.
The French pharmaceutical group operates in more than 150 countries and generates annual revenue of more than 5.3 billion euros.
For Sefrioui, whose fortune was built largely through property development, the proposed acquisition represents a significant diversification into a sector underpinned by steady healthcare demand and growing efforts to strengthen local production.
Morocco’s pharmaceutical market is estimated at about 17 billion dirhams ($1.8 billion) annually. Local manufacturers supply roughly 65% of domestic demand, while imported finished medicines account for the remaining 35%.
The government is seeking to increase domestic pharmaceutical production as it expands compulsory health insurance and works to strengthen the security of essential medicine supplies. Greater local manufacturing could also help Morocco expand its role as a healthcare and pharmaceutical hub for African markets.
The Servier acquisition would fit into that broader shift while giving Sefrioui’s investment group a stronger foothold in a strategic industry beyond its traditional real estate interests.
However, the transaction remains subject to regulatory approval. Pharma Capital can take control of Servier’s Moroccan businesses only if the Competition Council clears the deal.
Until then, the acquisition remains a proposed transaction rather than a completed takeover.
Amanze Chinonye is a Staff Correspondent at Prime Business Africa, a rising star in the literary world, weaving captivating stories that transport readers to the vibrant landscapes of Nigeria and the rest of Africa. With a unique voice that blends with the newspaper's tradition and style, Chinonye's writing is a masterful exploration of the human condition, delving into themes of identity, culture, and social justice. Through her words, Chinonye paints vivid portraits of everyday African life, from the bustling markets of Nigeria's Lagos to the quiet villages of South Africa's countryside . With a keen eye for detail and a deep understanding of the complexities of Nigerian society, Chinonye's writing is both a testament to the country's rich cultural heritage and a powerful call to action for a brighter future. As a writer, Chinonye is a true storyteller, using her dexterity to educate, inspire, and uplift readers around the world.
