Rameda Pharma is kicking the tires on two potential acquisitions in the medical sector, the company said in a regulatory filing (pdf) yesterday.

Who could they be? One of the targets is a pharma company and the other is a cosmeceuticals firm, Finance Director Mohamed Aboamira told us yesterday, without disclosing their identities. Rameda is looking to acquire stakes of over 50% in each firm, he said.

Talks are at an advanced stage: Rameda expects to ink MoUs with the targeted companies by the end of the month, after which it will start conducting due diligence, Aboamira said. Once the MoUs are signed, the company should finalize the deal within three months as required by regulators, he added.

Up to EGP 2 bn set aside for expansion: The company plans to spend up to EGP 2 bn on acquisitions and purchasing new medications in Egypt and abroad in the medium term, Aboamira said.

Regional expansion in the cards: Rameda has been working on expanding across the continent “aggressively,” Aboamira said. The company aims to grow its export business from a current 7-8% to 10% of total sales in the medium term. It has already registered a number of products in several African countries — including Uganda, Niger, Mali, South Sudan, and Nigeria — and will begin to offer them on the market by 2H 2024. It also plans to enter new markets in West Africa including Ghana and Kenya. Rameda’s main export markets are Libya, Iraq, and Yemen, to which over 95% of its exports are directed. The remainder of its exports are scattered across Africa.

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