Stocks Market
Sothema Reports 16% Revenue Surge in H1 2026, Debt Down 18%
Sothema posted a consolidated turnover of MAD 917 million in Q2 2026, a 19 % rise year‑on‑year, and reached MAD 1.795 billion for the first half of the year, up 16 % versus H1 2025. The growth was driven by strong oncology and cardio‑metabolic sales, the contribution of its Senegalese subsidiary and the recent integration of Soludia. The group also launched three new products, secured 37 market authorisations (18 abroad), and reduced net debt by 18 % to MAD 681 million, while stepping up investment in capacity expansion and implementing a 5‑for‑1 share split to improve liquidity.
Listen to this article
Unlock audio versions of premium articles and more with a Pro subscription.
Sothema announced a consolidated turnover of MAD 917 million in Q2 2026, marking a 19 % increase year‑on‑year. For the first half of the year, total revenue reached MAD 1.795 billion, up 16 % compared with H1 2025.
Drivers of the growth
- Robust performance in the oncology and cardio‑metabolic therapeutic areas.
- Contribution from the Senegalese subsidiary and the integration of Soludia into the consolidation scope since 17 December 2025.
Product pipeline and regulatory activity
During H1 2026 the group launched three new medicines in Morocco, secured 37 marketing authorisations and registration certificates (18 of them abroad), and filed 23 new applications, 12 of which target international markets.
Share split
On 5 May 2026 Sothema executed a 5‑for‑1 split of its nominal share price, aimed at enhancing liquidity and investor accessibility without altering the company’s overall valuation.
Investments
Quarter‑two investments rose to MAD 34 million (up 79 % YoY), while total H1 2026 spending hit MAD 111 million versus MAD 28 million a year earlier. Capital was mainly directed toward expanding industrial capacity, including acquiring the rights to the Cialis brand and related products for the Moroccan market.
Debt position
Net consolidated debt fell to MAD 681 million at the end of June 2026, down from MAD 833 million in December 2025 – a reduction of MAD 152 million or 18 %, reflecting strong cash generation.
Organisational development
The consolidation perimeter broadened with the creation of Sothema International, a vehicle dedicated to regional expansion.