The Moroccan industrial landscape has witnessed a significant development with the announcement of the acquisition by the Fonds Mohammed VI pour l'Investissement (FM6I) of a 10% stake in Maroc Biotechnologies (MARBIO), currently held by Recipharm AB. This move is part of a broader agreement that also includes Recipharm's withdrawal from the project. The agreement, signed on September 21, 2026, is subject to the fulfillment of predetermined conditions and the obtaining of applicable regulatory approvals.
This transaction marks a pivotal moment for MARBIO, a company established in 2021 with an initial capital of 1.4 billion dirhams, aiming to position itself as a vaccine CDMO (Contract Development and Manufacturing Organization) with international vocation. The partnership, initially formed in September 2021, brought together the Moroccan State, Recipharm, and BAB Consortium, comprising Attijariwafa Bank, Bank of Africa, and Banque Centrale Populaire. The collaboration has successfully established an industrial site in Benslimane for the filling and sterile packaging of vaccines and biological products.
Over the past five years, MARBIO has developed an integrated platform that covers formulation, aseptic filling, packaging, quality control, and batch release. Recipharm has played a crucial role in the technical, industrial, operational, and regulatory aspects of this first phase. The Swedish group's withdrawal signifies the end of the initial structuring and startup phase of the industrial platform. The agreement outlines the transition modalities between Recipharm and MARBIO to ensure operational continuity and the development of activities.
The FM6I's acquisition of the 10% stake is part of its mission to mobilize capital for productive projects and priority sectors in Morocco. With an initial social capital of 15 billion dirhams, the FM6I is involved in financing and accompanying structuring investment projects and companies that can contribute to growth, employment, and national competitiveness. This acquisition aims to support MARBIO in a new phase of development, contributing to consolidating a national industrial and technological capacity in a strategic sector.
This evolution in the shareholder structure mechanically strengthens MARBIO's national anchorage. BAB Consortium remains a stakeholder in the project, having been created to hold the participation of the three banking groups in MARBIO. The ambitions for the Benslimane platform remain unchanged, focusing on progressively strengthening Moroccan capacities in vaccines and biological products, contributing to the Kingdom's health sovereignty.
MARBIO's industrial platform is expected to play a significant role not only in meeting national demands but also in a regional perspective, aiming to reinforce Morocco's positioning on the African continent. The project envisions contributing to the securitization of African health supply chains, where mastering production capacities is a strategic challenge.
The handover between Recipharm and FM6I marks a new stage for MARBIO, shifting from establishing industrial capacities and transferring expertise to consolidating these achievements and pursuing its growth under a reinforced national anchorage.
Key points
- The acquisition is part of FM6I's mission to support strategic sectors.
- MARBIO aims to contribute to Africa's health sovereignty.
- The partnership strengthens Morocco's industrial and technological capacities.
