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Mozambique: State-owned pharmaceutical company reports tenfold rise in 2024 profits
4:46 CAT | 25 Aug 2025
File photo: SMM Holding – Sociedade Moçambicana de Medicamentos
Profits of state-owned Sociedade Moçambicana de Medicamentos (SMM) increased tenfold in 2024, to more than 674.7 million meticais (€9.1 million), according to the company’s financial statements, which Lusa obtained today.
According to the report, this performance contrasts with the positive net income of 66.6 million meticais (€900,000) in 2023, “extraordinary results” which the SMM management explains “essentially” by the appreciation of its financial stake in Indústria Farmacêutica de Moçambique (Infarma).
The SMM 2024 financial report adds that it doubled its share capital in Infarma (49%) in 2024 and that the private partner “provided a financial contribution corresponding to 100% of the investment requirement”, thereby “generating an appreciation of its stake for SMM”.
Despite the profit growth, the company’s sales actually fell from 198.4 million meticais (€2.6 million) in 2023 to 123.2 million meticais (€1.6 million) last year.
SMM was established on December 3, 2008, and is 100% owned by the State Holdings Management Institute (IGEOPE).
The company operates from the Beluluane Industrial Park in Boane district, Maputo, specifically in the production, packaging, and marketing of antiretroviral and other medications, and also supplies ethyl alcohol to the Mozambican Ministry of Health.
Source: Lusa
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