Lamia Tazi, a Moroccan pharmaceutical magnate, has seen the market value of her investment in Marocaine Ste de Therapeutique (Sothema) plummet by more than $15 million in less than five months as shares in the Casablanca-based pharmaceutical company have plummeted considerably.
According to Billionaires.Africa data, the Moroccan business executive, who ranks as one of the region’s richest businesswomen, has seen the market value of her stake in Sothema fall by MAD151.86 million ($15.59 million) in the last 137 days as investors reduced stakes in the pharma firm as part of a strategic move to reduce stakes in risky assets.
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Sothema is Morocco’s major healthcare corporation, generating roughly 60 million units of pharmaceuticals each year and running a diverse portfolio of 35 global laboratories that manufacture and export items to Europe, the Maghreb, Sub-Saharan Africa, and the Persian Gulf.
Tazi, Sothema’s CEO and Chairperson, and one of the most wealthy investors on the Casablanca Stock Exchange, owns a huge 8.4-percent interest in the premier healthcare company, which equates to 605,030 issued shares.
As of press time on July 19, Sothema shares were trading at MAD1,199 ($123.1), 17.31% higher than their starting price on the Casablanca market on March 3, 2023.
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Moroccan pharmaceutical business shares have lost about 17.31% of their value since the beginning of March, going from MAD1,450 ($148.85) on March 3 to MAD1,199 ($123.1) at the time of writing.
Tazi’s investment in Sothema has declined from MAD877.29 million ($90.07 million) on March 3 to MAD 725.43 million ($74.48 million) at the time of writing this report as a result of the double-digit percent decline in Sothema shares.
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This amounts to a total loss of MAD151.86 million ($15.59 million) for the leading businesswoman, who is one of the most wealthy investors on the Casablanca stock exchange.