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Rabat – Copper Pharma, a leading Moroccan pharmaceutical company, said it is open to working with more Israeli pharmaceutical companies.
“Cooper Pharma is well positioned in this market [the African market] and [is] the best partner for Israeli companies who look to explore those opportunities,” Cheikh Lahlou, CEO of Cooper Pharma told the Jerusalem Post, an Israeli news paper.
The COVID-19 pandemic exposed much of Africa’s healthcare vulnerabilities, as it is heavily reliant on imported drugs. Copper Pharma and many other regional pharmaceutical companies are working to close this gap and provide healthcare services to the continent, Lahlou explained.
Africa’s $25 billion pharma market is ripe with opportunities for us and our future partners, the CEO said.
“Cooper Pharma, through its subsidiary Cooper Biosciences, operates a vaccine and biotech business and is looking to further collaborate with Israeli companies to co-develop innovative Biotech products,” the CEO told the Israeli media.
Copper Pharma already sealed a distribution deal back in 2021 with Teva Pharmaceutical, an Israeli pharmaceutical giant. The Moroccan company added it is in the process of deepening collaboration with the Israeli pharmaceutical industry.
Africa is in need of strong cross-borders partnerships to stimulate health innovation. Copper Pharma is looking forward to collaborating with Israel in line with the company’s strategy to partner with innovative US and European pharmaceutical companies, he concluded.
Based in Casablanca, Copper Pharma manages nine manufacturing plants, six of which are located in north, west and east Africa.
The company also imports and markets hundreds of healthcare products under different licences sourced from more than 20 international companies.
After Morocco and Israel restored diplomatic ties in 2020 through the US-brokered Abraham Accord, companies on both sides expressed interest in establishing partnership deals between the two countries.
Economic ties between the two countries are proliferating, with the trade volume breaking records every year. Since the signing of the Abraham Accords, trade between the two countries have almost doubled, going from $70 million in 2020 to $130 million a year later.
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