After Astrea Pharma’s initial takeover proposal, the management at Recipharm has just revealed a second “firm” offer, ushering in a thirty-day exclusivity period. Laprophan. The leading Moroccan laboratory with 860 employees and 2022 sales of 1.3 billion dirhams (approximately €120 million), has stepped up to the plate as a key player in the Maghreb pharmaceutical landscape.
Led by Dr. Farid Bennis, Laprophan operates from a state-of-the-art 23,000 m² production unit in Casablanca. Boasting a diverse portfolio of over 400 specialties, including anesthetics, analgesics, and antibiotics, the laboratory has positioned itself as a keyplayer in both subcontracted and own-brand pharmaceutical production.
What sets Laprophan apart is not only its robust industry presence but also its commitment to governance excellence. The chairman Dr. Bennis appointed two esteemed independent directors to the board last June—former minister Elisabeth Moreno and Siham Imani, a former member of Pierre Fabre and Ipsen laboratories.
While details of the offer remain shrouded in mystery, the internal memo from Recipharm’s FO trade union highlights the intrigue surrounding management’s strategic decisions. The unions express surprise at the acceptance of the exclusivity period, which expires on March 29, effectively sidelining Astrea Pharma’s bid and leaving Laprophan as the imminent choice.
As the deadline approaches, the industry watches with anticipation to see how Laprophan’s vision aligns with the future of Recipharm in Monts.