In January 2022, Dislog Industries entered the pharmaceutical market with the exclusive takeover of Kosmo Pharm. A year later, the group is preparing to finalize two new acquisitions in the same sector. Information revealed by its president Moncef Belkhayat, contacted by us.
Our interlocutor took care not to reveal the identity of the target entities. The announcement will be formalized on March 18, he specifies.
In principle, the new operation will only be consummated following notification to the Competition Council. And subject to the validation, by this same regulator, of these concentrations.
At the beginning of 2022, Dislog set up a new organization around three Business Units: Food, Non-food and Pharma & Perfumery. The two future acquisitions will strengthen this third division, entrusted to Ghislaine Benlamlih as Vice President.
For the group, it is a question of “consolidating” its position on a market with strong potential. Kosmo Pharm is proof of this. Its turnover increased from 23 MDH in 2021 to more than 130 MDH at the end of 2022, i.e. only one year following its absorption by Dislog Industries.
Good news calling for another, Kosmo Pharm has just obtained the necessary authorizations for the storage of pharmaceutical products.
A shadow on the board? According to our information, Kosmo Pharm recently lost one of its historical partners: Engelhard medicinesa German pharmaceutical giant.
The case, which has been submitted to arbitration in Sweden, concerns the termination of a distribution contract signed in 2002. It granted Kosmo Pharm the exclusivity, in Morocco, of the manufacture of Prospan, a cough syrup .
According to the terms of the contract, the operator no longer has the right, since December 31, 2022, to market Prospan and must dispose of all stocks still available. On the Kosmo Pharm side, it is argued that the expiry date of the marketing authorizations is March 2025. In other words, in fact, there is no change and the operator continues to distribute the product normally. .
For its part, Engelhard has already turned to another distributor. This is the Promopharm laboratory.
The “amicable” termination was the subject of an arbitration award (International Chamber of Commerce in Stockholm) dated February 2021, i.e. before the takeover of Kosmo Pharm by Dislog. She received the exequatur from the Commercial Court of Casablanca. But this decision was the subject of an action for rectification of a clerical error, the magistrate having made it in her capacity as judge in chambers and not of exequatur.
