Sothema Posts 11% Net Income Surge to 215 Million DH in H1 2026, Fueled by Oncology and Cardiovascular Innovations

Market News | Tuesday, September 29, 2026

Sothema Achieves Robust First-Half Growth with 11% Net Income Increase

Moroccan pharmaceutical giant Sothema has delivered impressive financial results for the first half of 2026, posting a 11% rise in net income to 215 million DH, up from 194 million DH in the same period last year. This growth was fueled by expanding operations in oncology and cardiology-diabetes segments, combined with the performance of recently launched products and contributions from Soludia, its Senegalese subsidiary, and parent company Soludia.

Revenue and Profit Surge Amid Strategic Expansion

The company's consolidated revenue increased 16% to 1.795 billion DH, compared to 1.549 billion DH in June 2025. This strong performance was driven by oncology and cardiology-diabetes operations, newly launched product success, and contributions from its Senegalese subsidiary and Soludia. The EBITDA rose 12% to 394 million DH on a year-over-year basis, benefiting from Soludia's integration despite ongoing supply chain cost pressures. Notably, the consolidated financial result shifted from a positive 7 million DH to a deficit of 7 million DH during the period.

Portfolio Restructuring and Market Expansion

• Axess Pharma restructuring: Sothema continued its portfolio optimization through the creation of Axess Pharma, a dedicated specialty pole encompassing oncology, hematology, and autoimmune disease treatment activities.
• New product launches: In Morocco alone, the company introduced three new products during the semestre, including two in cardiology and one in oncology.
• Regulatory approvals: Sothema secured 37 market authorizations and registration certificates, with 19 approved domestically and 18 internationally.
• Intellectual property filings: 23 new patent applications were submitted during the period.

Investment and Capital Management

Capital expenditures reached 111 million DH, a significant increase from 28 million DH in the previous year, reflecting major investments including the acquisition of Lilly's CIALIS brand rights and industrial capacity enhancement initiatives. The company also generated cash flow sufficient to reduce its consolidated net debt by 152 million DH to 681 million DH as of June 30, 2026, down from 833 million DH at December 31, 2025.

Equity Restructuring and Future Outlook

• Capital increase: Sothema conducted an equity raise of approximately 80 million DH, including issuance premiums, restricted to certain group executives.
• Share restructuring: The company reduced its nominal share value by a factor of five to 10 dirhams per share, aiming to improve liquidity and accessibility.

For the upcoming period, Sothema plans to continue developing its proprietary product range while integrating new licensed molecules. Internationally, the firm targets gradual expansion of its business model across Africa and the Middle East, alongside ongoing evaluation of external growth opportunities through M&A activities.