Press release from the Competition Council regarding the economic concentration project concerning the direct and indirect acquisition by the company ‘Laprophan SA’ of joint control of the companies ‘Pian Holding BV.’, ‘Double-e Pharma Limited’ and ‘Rivopharm Limited’, alongside Mr. Piero Luigi Umberto Poli

In accordance with Article 13 of Law No. 104-12 on freedom of prices and competition and Article 10 of Decree No. 2-14-652 issued for its implementation, as amended and supplemented, the Competition Council makes available to the public the ‘operation summary’ below, containing the information provided by the parties.

This information has been prepared by the notifying parties, who are solely responsible. Any inaccurate or distorted information contained therein does not in any way prejudge the Competition Council’s position on the proposed operation.

The publication of this press release does not attest to the completeness of the file provided for in Article 9 of Decree No. 2-14-652 issued for the implementation of Law No. 104-12 on freedom of prices and competition as amended and supplemented.

Names of the companies and groups concerned:

• The acquirer: The company ‘Laprophan SA’ indirectly through its subsidiary ‘Europhan Europe SA’ for the company ‘Pian Holding BV’ and directly for ‘Double-e Pharma Limited’ and ‘Rivopharm Limited’;
• The historical shareholder: Mr. Piero Luigi Umberto Poli;
• The targets: The companies ‘Pian Holding BV’, ‘Double-e Pharma Limited’ and ‘Rivopharm Limited’.

Nature of the operation

• Takeover

Economic sectors concerned

• Sector of development, manufacturing, and marketing of generic pharmaceutical products.

Deadline for interested third parties to submit their observations

• 10 days from the date of publication of this press release, i.e., November 3, 2025.

NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES

The Competition Council received notification of an economic concentration project concerning the acquisition by the company ‘Laprophan SA’, indirectly through its subsidiary ‘Europhan Europe SA’, of 60% of the share capital of ‘Pian Holding BV.’ and directly of 60% of the share capital of ‘Double-e Pharma Limited’ and 60% of the share capital of ‘Rivopharm Limited’ from Mr. Piero Luigi Umberto Poli, who will remain a shareholder alongside ‘Laprophan SA’. This operation will give ‘Laprophan SA’ and Mr. Piero Luigi Umberto Poli joint control of the target companies.

‘Laprophan SA’ is a Moroccan joint-stock company active in the pharmaceutical sector and operating in Morocco in the fields of study, research, preparation, manufacturing, distribution, export, import, and trade of medicines.

‘Europhan Europe SA’ is a newly established Luxembourg joint-stock company, 100% indirectly owned by ‘Laprophan SA’, created to support the development of the Laprophan Group in Europe. Its only activity is that of a holding company.

Mr. Piero Luigi Umberto Poli is a Swiss individual who controls the three target companies described.

‘Pian Holding BV.’ is a Dutch private limited company (Besloten Vennootschap) active as an investment and capital participation vehicle. Its activities generally consist of holding shares in operating entities, managing investments, and, where applicable, providing intra-group financing services.

‘Double-e Pharma Limited’ is an Irish private limited company active in registering products with various regulatory business entities.

‘Rivopharm Limited’ is an Irish private limited company active in registering products with various regulatory business entities.

 

Done in Rabat, October 23, 2025