French Veterinary Firm Neftys Pharma Expands to Morocco with Pharmavet Acquisition

While the Competition Council has just given its green light, following the gradual lifting of the lockdown, the transfer of this commercial company should be finalized in the coming days.

According to Challenge.ma, the Neftys Pharma group was interested in Pharmavet Morocco because the animal health and nutrition sector has been spared by the health crisis. Pending the signing of the contract, no details have been given on the amount of the transaction. It would be close to 125 million dirhams for an operating margin of nearly 10%, which is valued at nearly 100 million dirhams excluding real estate assets.

Launched in 2011, Pharmavet Vert is one of the top 5 veterinary laboratories in Morocco with a very wide range of products including vaccines for the Poultry industry, reproduction products for Ruminants, specialties for very specific animal diseases and products for pets (Dogs, Cats and Horses).

At the top of the top 5 is MCI Animal Health, the only one claiming a turnover of more than 300 million dirhams. There is also the acquirer Neftys Pharma led by Jacques Mignot, a group mainly built through successive acquisitions over the past fifteen years (notably with the consolidation of Agripharm, Elvétis and Véto Santé).

According to the same media, this group achieved a turnover of 250 million euros (nearly 2.8 billion dirhams) with six operational sites (five in France and one in West Africa) at the end of 2019.