The Casablanca-headquartered company was launched in 2002 to make pharmaceuticals that are good manufacturing practice (GMP) compliant.
It currently has a portfolio of both solid and liquid products and handles services including manufacturing, marketing, and subcontracting.
The investment from Abraaj will help Steripharma to increase its exports, primarily to the private sector of North and Sub-Saharan Africa.
Abraaj managing director Shakir Merali said, “A consistent theme throughout Africa is the unavailability of quality healthcare goods and services at accessible price points.
“This deficit presents an opportunity to invest in solid companies to build scale, increase affordability and achieve world class quality.
“By doing so, a wide community of consumers touched by these products or services benefit, while robust commercial returns ensure that these businesses remain sustainable and attractive as investment opportunities in the long-term.
“This type of dual return is what we aim to achieve with our investing strategy for the healthcare sector on the continent.”
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