Project detail - Laprophan


Status: Approved investment
Back to map

Why disclosure?

FMO is committed to making publicly available relevant investment information that informs stakeholders and enables them to engage directly with FMO on its investments which, in turn, enhances our investment decisions, the design and implementation of projects and policies, and strengthens development outcomes. Learn more

In case of questions

In case of questions, please contact us at


The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.

Who is our customer

Founded in 1949 by Abderrahim Bennis, Laprophan is a pioneering pharmaceutical company and nowadays stands out as one of the undisputed leaders in the manufacturing, distribution, import and export of pharmaceutical products in Morocco. The company distributes its own branded products and imported finished products from large international laboratories, providing patients and healthcare professionals with a wide range of medical drugs covering over 40 specialties. Laprophan also exports products to more than 30 countries across Africa and the Middle East and is an internationally renowned brand in the region.

What is our funding objective?

Through its investment, the consortium - consisting of MC IV, FMO, DEG, and Proparco - aims to support Laprophan’s growth and expansion plans, supplying the demand for generic drugs in Morocco and Sub-Saharan markets.

Why do we fund this investment?

FMO considers this an attractive investment opportunity as it provides us with a possibility to invest in i) an attractive asset as one of the top pharma companies in Morocco, ii) strong commercial thesis on the back of growing demand and access to pharmaceuticals in Morocco and Sub-Saharan markets, and iii) ample opportunity for value-add as FMO supports Laprophan in terms of improving Environmental & Social practices and the Corporate Governance structure of the company.

What is the Environmental and Social categorization rationale?

E&S Category is B+ due to the new greenfield manufacturing plans. The following IFC Performance Standards are applicable: PS 1 (assessment and management of Environmental & Social risks and impacts), PS 2 (labour and working conditions), PS 3 (Resource efficiency and Pollution Prevention), PS 4 (Community Health, Safety and Security). IFC PS 5 (Land Acquisition and Involuntary Resettlement), PS 6 (Biodiversity conservation and sustainable management of living natural resources), PS 7 (Indigenous Peoples) and PS 8 (Cultural Heritage) are not applicable as both old and new facilities are located in existing industrial zones. The main risks are associated with technical safety, occupational health and safety, resource efficiency and pollution prevention. This transaction allows FMO to explore further impact opportunities with the other shareholders.

Infrastructure, Manufacturing and Services
Publication date
Effective date
Total FMO financing
EUR 14.50 MLN
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk Environmental & Social Category
(A, B+, B or C)