Procaps (PROCF) 20-F/A 19 May 22 2021 FY Annual report (foreign) (amended) Financial data

Document And Entity Information

Document And Entity Information	12 Months Ended
	Dec. 31, 2021shares
Document Information Line Items
Entity Registrant Name	PROCAPS GROUP S.A.
Trading Symbol	PROC
Document Type	20-F/A
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding	112,824,183
Amendment Flag	true
Amendment Description	This Amendment No. 1 to the Annual Report on Form 20-F of Procaps Group S.A. (the “Company”) amends the Company’s Annual Report on Form 20-F for the year ended December 31, 2021 (the “Original 20-F”), which was filed with the Securities and Exchange Commission on April 29, 2022.  The Company is filing this Amendment No. 1 solely to submit the Interactive Data File (as defined in Rule 11 of Regulation S-T) as Exhibit 101 to this Form 20-F/A in accordance with Rule 405 of Regulation S-T. Exhibit 101 was omitted from the Original Form 20-F in accordance with the 30-day grace period provided under Rule 405 of Regulation S-T.Except as described above, this Amendment No. 1 does not, and does not puport to, amend, modify or restate any information set forth in the Original 20-F, or reflect any events that occurred subsequent to the filing of the Original 20-F on April 29, 2022.
Entity Central Index Key	0001863362
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Well-known Seasoned Issuer	No
Document Period End Date	Dec. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Entity Emerging Growth Company	true
Entity Shell Company	false
Entity Ex Transition Period	false
ICFR Auditor Attestation Flag	false
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Entity File Number	001-38354
Entity Incorporation, State or Country Code	N4
Entity Address, Address Line One	9 rue de Bitbourg
Entity Address, Postal Zip Code	L-1273
Entity Address, City or Town	Luxembourg
Entity Address, Country	LU
Title of 12(b) Security	Ordinary Shares, U.S.$0.01 nominal value per share
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes
Document Accounting Standard	International Financial Reporting Standards
Auditor Firm ID	1183
Auditor Name	Deloitte & Touche Ltda.
Auditor Location	Bogota, Colombia
Business Contact [Member]
Document Information Line Items
Entity Address, Address Line One	L-1273
Contact Personnel Name	9 rue de Bitbourg
Entity Address, Postal Zip Code	L-1273
Entity Address, City or Town	Luxembourg
Entity Address, Country	LU
City Area Code	356
Local Phone Number	7995-6138

Consolidated Statement of Profi

Consolidated Statement of Profit or Loss and Other Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020		Dec. 31, 2019
Consolidated Statement of Profit or Loss and Other Comprehensive Income [Abstract]
Revenue	$ 409,742	$ 331,467		$ 324,792
Cost of sales	(174,029)	(140,153)		(142,294)
Gross profit	235,713	191,314		182,498
Sales and marketing expenses	(83,057)	(69,629)		(84,810)
Administrative expenses	(82,187)	(58,631)		(60,257)
Finance expenses, net	(78,636)	(54,489)		(42,983)
Other expenses, net	(78,991)	(7,716)		(4,426)
(Loss)/Income before tax	(87,158)	849		(9,978)
Income tax expense	(13,705)	(11,296)		(7,035)
Loss for the year	(100,863)	(10,447)	[1]	(17,013)	[1]
Loss for the year attributable to:
Owners of the Company	(100,863)	(10,447)		(17,008)
Non-controlling interests				$ (5)
Earnings per share:
Basic, loss for the period attributable to ordinary equity holders of the Company (in Dollars per share)	$ (1.03)	$ (0.11)		$ (0.18)
Loss for the year	$ (100,863)	$ (10,447)	[1]	$ (17,013)	[1]
Items that will not be reclassified to profit or loss:
Remeasurement of net defined benefit liability	195	(47)		122
Income tax relating to items that will not be reclassified subsequently to profit or loss	(58)	16		(43)
Net of Tax	137	(31)		79
Items that will be reclassified subsequently to profit or loss:
Exchange differences on translation of foreign operations	(2,743)	(637)		584
Exchange difference from liquidated foreign transactions reclassified to profit or loss	(751)
Other comprehensive income/(loss) for the year, net of tax	(3,357)	(668)		663
Total comprehensive loss for the year	(104,220)	(11,115)		(16,350)
Total comprehensive income/(loss) for the year attributable to:
Owners of the Company	(102,503)	(11,546)		(16,299)
Non-controlling interests	$ (1,717)	$ 431		$ (51)
[1]	Refer to Note 2.4

Consolidated Statement of Finan

Consolidated Statement of Financial Position - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	[1]	Dec. 31, 2019	[1]
Non-current assets
Property, plant and equipment, net	$ 72,638	$ 70,335		$ 74,915
Right-of-use assets	40,167	43,195		38,296
Goodwill	6,803	6,863		7,020
Intangible assets	30,171	27,583		23,201
Investments in joint ventures	2,443	2,460		1,390
Other financial assets	256	761		1,131
Deferred tax assets	7,067	21,769		16,215
Other assets	4,531	1,870		3,111
Total non-current assets	164,076	174,836		165,279
Current assets
Cash	72,112	4,229	[2]	2,042	[2]
Trade and other receivables, net	117,449	96,493		96,466
Inventories, net	79,430	64,284		65,002
Amounts owed by related parties	1,147	2,562		2,144
Current tax assets	22,082	16,774		6,697
Other current assets	5,839	360		98
Total current assets	298,059	184,702		172,449
Total assets	462,135	359,538		337,728
Equity (Deficit)
Share capital	1,011	2,001		2,001
Share premium	377,677	54,412		54,412
Reserves	42,749	39,897		28,681
Accumulated deficit	(431,059)	(327,344)		(305,634)
Accumulated other comprehensive loss	(27,778)	(24,421)		(23,753)
Equity (deficit) attributable to owners of the company	(37,400)	(255,455)		(244,293)
Non-controlling interest	(940)	777		346
Total equity (deficit)	(38,340)	(254,678)		(243,947)
Non-Current liabilities
Borrowings	178,720	339,738		320,462
Amounts owed to related parties		12,163
Warrant liabilities	23,112
Shares held in escrow	101,859
Deferred tax liabilities	6,070	18,890		7,659
Other liabilities	2,750	3,797		5,077
Total non-current liabilities	312,511	374,588		333,198
Current liabilities
Borrowings	74,646	114,780		99,975
Trade and other payables, net	85,381	94,116		104,608
Amounts owed to related parties	8,450	8,459		25,091
Current tax liabilities	11,756	9,393		7,542
Provisions	501	1,829		2,276
Other liabilities	7,230	11,051		8,985
Total current liabilities	187,964	239,628		248,477
Total liabilities and stockholders’ equity (deficit)	$ 462,135	$ 359,538		$ 337,728
[1]	Refer to Note 2.4
[2]	Refer to Note 2.4

Consolidated Statement of Chang

Consolidated Statement of Changes in Equity - USD ($) $ in Thousands		Issued Capital	Share premium	Reserves	[1]	Accumulated deficit	Other Comprehensive Income	Total	Non-controlling interest	Total
Balance at Dec. 31, 2018		$ 2,493	$ 120,151	$ 28,322		$ (254,617)	$ (24,416)	$ (128,067)	$ 397	$ (127,670)
Loss for the year						(17,008)		(17,008)	(5)	(17,013)
Transfer reserves				359		(359)
Other comprehensive income							709	709	(46)	663
Non-controlling interest							(46)	(46)		(46)
Put option issued to Hoche		(492)	(65,739)			(33,385)		(99,616)		(99,616)
Other						(265)		(265)		(265)
Balance at Dec. 31, 2019		2,001	54,412	28,681		(305,634)	(23,753)	(244,293)	346	(243,947)	[2]
Loss for the year						(10,447)		(10,447)		(10,447)
Transfer reserves				11,216		(11,216)
Other comprehensive income							(1,099)	(1,099)	431	(668)
Non-controlling interest							431	431		431
Other						(47)		(47)		(47)
Balance at Dec. 31, 2020		2,001	54,412	39,897		(327,344)	(24,421)	(255,455)	777	(254,678)	[2]
Loss for the year	[3]					(100,863)	(751)	(101,614)		(101,614)
Transfer reserves				2,852		(2,852)
Other comprehensive income							(889)	(889)	(1,717)	(2,606)
Other comprehensive income										(3,357)
Non-controlling interest							(1,717)	(1,717)		(1,717)
Termination of put option agreements		903	297,796					298,699		298,699
Subtotal		2,904	352,208	42,749		(431,059)	(27,778)	(60,976)	(940)	(61,916)
Capital restructuring of Crynssen Pharma Group Limited (at exchange ratio of 1:33.4448)		(1,933)	1,933
Subtotal - restructured		971	354,141	42,749		(431,059)	(27,778)	(60,976)	(940)	(61,916)
Acquisition of Union Acquisition Corp. II		202	174,738					174,940		174,940
Shares held in escrow		(117)	(106,247)					(106,364)		(106,364)
Redemption of redeemable shares		(45)	(44,955)					(45,000)		(45,000)
Balance at Dec. 31, 2021		$ 1,011	$ 377,677	$ 42,749		$ (431,059)	$ (27,778)	$ (37,400)	$ (940)	$ (38,340)
[1]	Includes the appropriate values from net income to comply with legal provisions related to asset protection according to applicable jurisdictions with cumulative earnings.
[2]	Refer to Note 2.4
[3]	Includes the OCI related to exchange difference from liquidated foreign transactions reclassified to Other Expenses, net during 2021.

Consolidated Statement of Cash

Consolidated Statement of Cash Flows - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2021		Dec. 31, 2020		Dec. 31, 2019
Statement of cash flows [abstract]
Loss for the year		$ (100,863)		$ (10,447)	[1]	$ (17,013)	[1]
Adjustments to reconcile net loss with net cash from operating activities:
Depreciation of property, plant and equipment		6,072		5,900	[1]	6,773	[1]
Depreciation of right-of-use assets		4,223		4,598	[1]	5,133	[1]
Amortization of intangibles		4,816		5,979	[1]	4,560	[1]
Income tax expense		13,705		11,296	[1]	7,035	[1]
Finance expenses		78,636		54,489	[1]	42,983	[1]
IFRS 2 Share-based payment expense (listing expense)		73,917			[1]		[1]
Share of result of joint ventures		305		(806)	[1]	(240)	[1]
Net (gain)/loss on sale of property, plant and equipment		(317)		134	[1]	115	[1]
Net (gain)/loss on sale or disposal of intangibles				161	[1]	(7,157)	[1]
Inventory provision		5,391		1,616	[1]	514	[1]
Reversed provision for bad debt		(818)		(1,915)	[1]	(430)	[1]
Provisions				761	[1]	12	[1]
Cash flow from operating activities before changes in working capital		85,067		71,766	[1]	42,285	[1]
(Increase)/decrease in operating assets and liabilities:
Trade and other receivables		(21,257)		1,889	[1]	6,741	[1]
Amounts owed by related parties		1,387		(613)	[1]	(249)	[1]
Inventories		(20,536)		(898)	[1]	(1,713)	[1]
Current tax assets		(5,308)		(10,077)	[1]	(1,047)	[1]
Other current assets		(5,441)		(9,635)	[1]	(9,826)	[1]
Trade and other payables		32,825		11,795	[1]	32,642	[1]
Amounts owed to related parties		(3,448)		1,354	[1]	246	[1]
Current tax liabilities		2,103		7,499	[1]	(2,147)	[1]
Other liabilities		(12,936)		12,014	[1]	10,305	[1]
Provisions				(821)	[1]	(38)	[1]
Other financial assets		505		370	[1]	757	[1]
Other assets		(2,699)		1,256	[1]	(1,354)	[1]
Cash generated from operations		50,262		85,899	[1]	76,602	[1]
Interest paid		(1,697)		(1,839)		(2,216)
Dividends received		300			[1]		[1]
Income tax paid		(11,562)		(13,140)	[1]	(6,100)	[1]
Cash flow provided by operating activities		37,303		70,920	[1]	68,286	[1]
Investing activities
Acquisition of property, plant and equipment		(14,122)		(7,699)	[1]	(11,802)	[1]
Proceeds from sale of property, plant and equipment		794		632	[1]	276	[1]
Acquisition of intangibles		(10,403)		(10,219)	[1]	(7,896)	[1]
Proceeds from sale of intangible assets					[1]	7,310	[1]
Advances to related parties					[1]	(289)	[1]
Proceeds from related parties		28		195	[1]	332	[1]
Cash flow used in investing activities		(23,703)		(17,091)	[1]	(12,069)	[1]
Financing activities
Proceeds from borrowings		280,795		106,736	[1]	96,392	[1]
Payments on borrowings		(272,301)		(120,586)	[1]	(118,417)	[1]
Advances from related parties				32	[1]
Payments to related parties		(9,154)		(5,856)	[1]	(4,570)	[1]
Interest paid on borrowings		(17,428)		(15,102)	[1]	(16,284)	[1]
Payment of lease liabilities		(8,854)		(5,733)	[1]	(4,070)	[1]
Redeemed shares		(45,000)			[1]		[1]
Cash obtained in acquisition		129,986			[1]		[1]
Cash flow generated from (used in) financing activities		58,044		(40,509)	[1]	(46,949)	[1]
Net increase in cash		71,644		13,320	[1]	9,268	[1]
Cash at beginning of the year/period	[1]	4,229	[2]	2,042	[2]	2,844
Effect of exchange rate fluctuations		(3,761)		(11,133)	[1]	(10,070)	[1]
Cash at end of the year/period		72,112		4,229	[1],[2]	2,042	[1],[2]
Non-cash financing and investing activities 1	[3]	$ (145,286)		$ 40,759	[1]	$ 166,013	[1]
[1]	Refer to Note 2.4
[2]	Refer to Note 2.4
[3]	As of December 31, 2021, non-cash investing and financing activities include acquisition of right-of-use assets $7,283 (2020: $11,022, 2019: $5,335), interest capitalization on property, plant and equipment under IAS 23 $571, 50% purchase price of acquisition of Pharmaceutical Production Facility $744, termination of the put option agreements in exchange for new equity instruments in Procaps Group S.A. $(239,273) (Refer to Note 23), conversion of SPAC Warrants to Warrants in Procaps Group S.A. $28,963, invoices from suppliers financed via reverse factoring classified as Trade and other payables $8,288 (2020: $7,311, 2019: $38,576) and invoices from suppliers financed via reverse factoring classified as Borrowings $48,138 (2020: $22,426, 2019: $22,486). For the year ended December 31, 2019, it also included the issuance of put option agreements for $99,616.

General Company Information

General Company Information	12 Months Ended
	Dec. 31, 2021
General Company Information [Abstract]
General Company Information	Note 1. General Company Information Procaps Group S.A., a public limited liability company (société anonyme) governed by the laws of the Grand Duchy of Luxembourg and its subsidiaries (“the Group”) primarily engages in developing, producing and marketing pharmaceutical solutions. Further information about the Group’s business activities, reportable segments and related party relationships of the Group is included in Note 7. Revenue, Note 8. Segment reporting and Note 29. Related party transactions, respectively. The Group’s principal subsidiaries as of December 2021, 2020 and 2019 are set out below. Unless otherwise stated, they have share capital consisting solely of ordinary shares that are held directly by the Group, and the proportion of ownership interests held equals the voting rights held by the Group. The country of incorporation or registration is also their principal place of business. Place of Ownership interests held by: business/country The Group Non-controlling interests Name of entity of incorporation 2021 2020 2019 2021 2020 2019 Principal activities Procaps S.A. Colombia 100 % 100 % 100 % — % — % — % Manufacturing and distribution of prescription and over-the-counter pharmaceutical products. C.I. Procaps S.A. Colombia 100 % 100 % 100 % — % — % — % Procaps S.A. de C.V (previously Laboratorios Lopez S.A. de C.V.) El Salvador 100 % 100 % 100 % — % — % — % Softcaps - Colbras Brazil 100 % 100 % 100 % — % — % — % Diabetrics Healthcare S.A.S. Colombia 100 % 100 % 100 % — % — % — % Diabetes solutions and chronic disease management tool. There are no significant restrictions on the ability of the Group to access or use assets and settle liabilities. Reverse reorganization Crynssen Pharma Group Limited (“OpCo”) is a private limited liability company registered under the laws of Malta with company registration number C59671 and with registered office at Ground Floor, Palace Court, Church Street, St. Julians STJ 3049. Union Acquisition Corp. II is a Cayman Islands company previously listed on the NASDAQ under “LATNU”. Union, a publicly-traded special purpose acquisition company (“SPAC”), had limited operations but was established as a public investment vehicle with the purpose of making an investment in an operating company, particularly in Latin America. On March 31, 2021, SPAC, OpCo, Procaps Group, S.A. (“Holdco”) and OZLEM Limited, an exempted company incorporated under the laws of the Cayman Islands (“Merger Sub”) entered into a Business Combination Agreement (the “Business Combination Agreement” or “BCA” or the “Transaction”). With the execution of the BCA, SPAC also entered into separate Subscription Agreements, each dated March 31, 2021, with certain investors (collectively, the “PIPE Investors”), pursuant to, and on the terms and subject to the conditions of which, the PIPE Investors collectively subscribed for an aggregate of 10,000,000 ordinary shares of SPAC, par value $0.0001 per share (“SPAC Ordinary Shares”) for a purchase price of $10.00 per SPAC Ordinary Share and an aggregate purchase price of $100,000,000 (the “PIPE Investment”). The PIPE Investment were consummated, and the SPAC Ordinary Shares subscribed for by the PIPE Investors were exchanged for ordinary shares of Holdco, nominal value $0.01 per share (“Holdco Ordinary Shares”), concurrently with the closing of the Transaction. The Transaction was approved at an Extraordinary General Meeting of LATNU’s shareholders on September 22, 2021 and subsequently consummated on September 29, 2021. Summary of significant steps to implement the reverse reorganization: a. OpCo formed Holdco, a public limited liability company (société anonyme) governed by the laws of the Grand Duchy of Luxembourg, which issued redeemable A shares of Holdco (the “Holdco Redeemable A Shares”) to OpCo. Holdco then formed Merger Sub, an exempted company incorporated under the laws of the Cayman Islands. b. Merger Sub merged with and into the SPAC, with SPAC surviving such merger and becoming a direct wholly-owned subsidiary of Holdco (the “Merger”) and, in the context of the Merger, (a) all SPAC Ordinary Shares outstanding were exchanged with Holdco for the right to receive Holdco Ordinary Shares pursuant to a share capital increase of Holdco and (b) the issued and outstanding SPAC warrants that became warrants of Holdco exercisable for Holdco Ordinary Shares, on substantially the same terms as the SPAC warrants. c. Immediately following consummation of the Merger and pursuant to those certain individual Contribution and Exchange Agreements, each dated as of March 31, 2021, each of the shareholders of OpCo, immediately prior to the consummation of the Transaction (the “Opco Shareholders”), had contributed their respective ordinary shares of OpCo, nominal value $1.00 per share (the “OpCo Ordinary Shares”) to Holdco in exchange for Holdco Ordinary Shares, and in the case of the International Finance Corporation (“IFC”), for Holdco Ordinary Shares and 4.5 million redeemable B shares of Holdco, nominal value $0.01 per share (the “Holdco Redeemable B Shares”) which were subscribed for by each OpCo Shareholder (such contributions and exchanges of OpCo Ordinary Shares for Holdco Ordinary Shares and, in the case of IFC, Holdco Ordinary Shares and Holdco Redeemable B Shares, collectively, the “Exchange”). The Exchange transaction was termed as a common control transaction due to the fact both OpCo and Holdco are ultimately controlled by the same party or parties, that are all controlled by the Minski family, both before and after the transaction, and that control is not transitory. d. Immediately following the consummation of the Merger but prior to the Exchange, Holdco redeemed all Holdco Redeemable A Shares held by OpCo. e. Immediately following the Exchange, Holdco redeemed 4.5 million Holdco Redeemable B Shares for a total purchase price of $45 million in accordance with that certain Share Redemption Agreement entered into by and between Holdco and IFC on March 31, 2021. f. On the effectiveness of the Transaction, September 29, 2021, the put option agreements were terminated in exchange for new equity instruments in Procaps Group SA. As a result of the Exchange and following the consummation of the Transaction, OpCo and SPAC had become a direct wholly-owned subsidiaries of Holdco and the OpCo shareholders and SPAC shareholders became holders of issued and outstanding Holdco Ordinary Shares: Procaps Group S.A. Emerging Growth Company Status Upon execution of the public equity offering, Holdco (the “Company”) is an emerging growth company, as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). The Company will remain an emerging growth company until the earliest of: ● the last day of the first fiscal year (a) following the fifth anniversary of a public equity offering, (b) in which its annual gross revenue totals at least $1.07 billion or (c) when the Company is deemed to be a large accelerated filer, which means the market value of the Company’s ordinary shares held by non-affiliates exceeds $700.0 million as of the prior June 30 th ● the date on which the Company has issued more than $1.0 billion in non-convertible debt securities during the prior three-year period. The consolidated financial statements of the Company for the years ended December 31, 2021, 2020 and 2019 comprise the Group and its interest in joint ventures, investments and operations. The Group prepares and publishes its consolidated financial statements in United States Dollars (“USD”), and the numbers are rounded to the thousands of USD unless otherwise stated. Foreign operations are included in accordance with the policies set out in Note 2.2. Functional and reporting currency. The consolidated financial statements were authorized for issue by the Group’s Audit Committee on April 27, 2022.

Basis of Preparation and Accoun

Basis of Preparation and Accounting	12 Months Ended
	Dec. 31, 2021
Basis of preparation and accounting [Abstract]
Basis of preparation and accounting	Note 2. Basis of preparation and accounting The consolidated financial statements of the Group as of December 31, 2021, 2020 and 2019 and have been prepared on a going concern basis in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standard Board (“IASB”). The consolidated financial statements consist of the consolidated statement of profit or loss and other comprehensive income, consolidated statement of financial position, consolidated statement of changes in equity and consolidated statement of cash flows and have been prepared under a historical cost basis, except for certain financial instruments that have been measured at fair value. The Group opted to present a single consolidated statement of profit or loss and other comprehensive income, combining the presentation of profit or loss and comprehensive income in the same statement. Due to the activities of the Group, costs and expenses presented in the consolidated statement of profit or loss and other comprehensive income were classified according to their function. The consolidated statement of financial position has been prepared based on the nature of the Group’s operations, distinguishing: (a) current assets from non-current assets, where current assets are intended as the assets that should be realized, sold or used during the normal operating cycle, or the assets owned with the aim of being sold in the short term (within 12 months); (b) current liabilities from non-current liabilities, where current liabilities are intended as the liabilities that should be paid during the normal operating cycle, or over the 12-month period subsequent to the reporting date. The consolidated statement of cash flows has been prepared using the indirect method. The consolidated financial statements present comparative information in respect to the previous periods, 2020 and 2019 for Consolidated Statement of Profit or Loss and Other Comprehensive Income, Consolidated Statement of Changes in Equity and Consolidated Statement of Cash Flows and related notes. Foreign operations are included in accordance with the policies set out in Note 2.2. Functional and reporting currency. The accounting policies set out in Note 3. Summary of significant accounting policies have been applied in preparing the consolidated financial statements for the year ended December 31, 2021, and the comparative information presented for the years ended December 31, 2020 and 2019. The Group has applied accounting judgments, estimates and significant accounting assumptions described in Note 4. Critical accounting judgements and key sources of estimation uncertainty in preparing the consolidated financial statements. Note 2.1. Going concern Management has, at the time of approving the accompanying consolidated financial statements, a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future. Thereby these consolidated financial statements have been prepared on a ‘going concern’ basis. As of December 31, 2020, Management had identified certain conditions and events that considered in the aggregate, rose a substantial doubt about the Group’s ability to continue as a going concern. However, such consolidated financial statements had been prepared on a going concern basis, which contemplated the realization of assets and satisfaction of liabilities that could have been necessary if the Group were unable to continue as a going concern. As of December 31, 2021, the following matters have been considered by management in determining the reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future. As of December 31, 2021, the Group retains a negative equity position of $38,340 while it improved significantly compared to prior periods (2020: negative equity of $254,678, 2019: negative equity $243,947). This improvement is related to the effects of the reverse reorganization following the de-SPAC with Union Acquisition Corp II on September 29, 2021. This resulted in a net ‘capital contribution’ through the net assets obtained from the SPAC and the termination of the put option with IFC and Hoche for which the financial liability was reclassified back into equity in consideration for ordinary shares in Holdco. The negative equity balance as of December 31, 2021 is primarily driven by the classification of the Holdco Ordinary Shares held in escrow as a financial liability and does not impact the Group’s future operations and there are no further obligations to the Group. For the year ended December 31, 2021, the Group incurred a loss of $100,863 (2020: $10,447, 2019: $17,013). The Group generated $37,303 of cash in operating activities (2020: $70,920, 2019: $68,286) after changes in working capital. As of December 31, 2021, the Group reported positive working capital of $110,095 compared to a deficit of $54,926 and 76,028 for fiscal years 2020 and 2019, respectively. The positive working capital was mainly due to the increase in units sold in the principal business lines at an average of 24%, and improvement in the collection of the portfolio, due to post-Covid recovery and current debt re-profiling activities. The Transaction has brought an inflow of cash to the operation. The Group received $160,049 which was mainly used for the redemption of the Redeemable B Shares from IFC, capital expenditures and settlement of obligations with certain suppliers. As of December 31, 2021, the Group had cash of $72,112 (2020: $4,229, 2019: $2,042). Currently, the Group maintains financing lines, which, together with the expected internal generation of funds, will allow it to finance its growth and working capital needs. Furthermore, the Group substantially improved its funding conditions through the subscription of new Senior Notes for $115 million. This transaction will result in a significant reduction in interest rate payable from 9% average to 4.75%, allowing the Group to early repay $102 million of previous facilities and the Senior Notes will not start to amortize before 2027. Management has evaluated its capital position and its ability to continue its normal course of business for the foreseeable future and ability to meet its financial obligations for the next twelve months. The Group project it will generate excess cash over its current financial obligations through its current cash position and operating cash generated. The excess cash will be available to meet the Group’s investment and capital expenditure objectives. Note 2.2. Functional and reporting currency Items included in the financial statements of each of the group’s entities are measured using the currency of the primary economic environment in which the entity operates (‘the functional currency’). The consolidated financial statements are presented in US Dollars (USD), which is Procaps Group S.A. functional and presentation currency. Note 2.3. Basis of consolidation The subsidiaries are fully consolidated from the date on which control is transferred to the Company. Consolidation ceases from the date on which control ends. All financial results are consolidated with similar items on a line-by-line basis. If necessary, adjustments are made to the financial statements of the consolidated companies in order to adapt their accounting policies to those used by the Group. All transactions, balances, revenues and related expenses between the consolidated companies are eliminated. 2.3.1. Reverse reorganization Management has evaluated all the indicators of control from IFRS 10 and IFRS 3. Although there is a higher level of judgement when it comes to the analysis of the conditions set forth in IFRS 3, the indicators of relative voting rights, composition of governing body, composition of senior management, terms of exchange, relative size, and other factors favored OpCo as the accounting acquirer. Therefore, the SPAC is considered to be the accounting acquiree. However, SPAC does not meet the definition of a business under IFRS 3 because it lacks substantive processes as defined by IFRS 3. Thus, the transaction is not accounted for as a business combination but an asset acquisition transaction within the scope of IFRS 2 as a share-based payment transaction. As a result, the difference in the fair value of the shares deemed to have been issued by the accounting acquirer (OpCo) and the fair value of the accounting acquiree’s (SPAC’s) identifiable net assets represents a service received by the accounting acquirer. That difference is recognized as an expense on the date of the transaction close as the services have been deemed rendered at that point in time. See Note 10. Other expenses, net. In the Transaction, the accounting acquiree (legal acquirer), becomes the ultimate parent holding company of the Group, however, the consolidated financial statement represents a continuation of Procaps Group S.A., the accounting acquirer (legal acquiree) with the exception of the legal capital structure. As mentioned in Note 1. General Company Information, the Transaction can be termed a common control transaction. Management concluded that it would be appropriate to account for it as a restructuring using book value accounting in Holdco’s consolidated financial statements, on the basis that there has been no business combination between Opco and Holdco. Shareholders’ equity of the Group prior to the Transaction is retrospectively adjusted as a capital restructuring for the equivalent number of shares received and on a pro rata basis for prior reporting periods, for purposes of calculating earnings per share. Retained earnings and relevant reserves of the Group are carried forward after the Transaction. Any difference to shareholders’ equity of Group arising from the restructuring of share capital and equity instruments issued is recorded in equity under share premium. Refer to Note 26. Acquisitions for further information related to the accounting and presentation of the Transaction. For purposes of calculating basic earnings per share the ordinary shares associated with Put Option Agreements previous to the transaction were included. Note 24. Earnings Per Share. Note 2.4. Restatement of Previously Issued Financial Statements Subsequent to the issuance of the Group’s 2020 financial statements and during the process of preparing the Group’s Form 20-F, the Group revisited the classification of factoring and reverse factoring arrangements previously classified as part of Trade and other payables. As a result, management has identified the following errors that were concluded to be material to the previously issued financial statements. ● The Group’s factoring arrangements with recourse are treated as ’secured borrowing’ transactions since the Group has not transferred substantially all risks and rewards. A secured borrowing transaction is to be classified together with other borrowings. Previously, the Group classified certain factoring arrangements as Trade and other payables. Upon reassessing the facts and circumstances, the Group concluded that these should be reclassified to Borrowings (current). Based on this analysis of the factoring arrangements, the Group identified the following errors: – As of December 31 and January 1, 2020, and June 30, 2021, the Group decreased Trade and other payables, net and increased Borrowings (current) by $1,919, $1,517, and $3,808 (unaudited), respectively. – For the twelve-month period ended December 31, 2020, the Group’s classification error of factoring arrangements from operating to financing cash flows amounted to $2,463. There was a net zero impact of the error of factoring arrangements in the cash flow statement for the twelve-month period ended December 31, 2019. – Unaudited - For the six-month period ended June 30, 2021, the Group’s classification error of factoring arrangements from operating to financing cash flows amounted to net $300 (unaudited) which consists of $596 thousand to Proceeds from borrowings Payments on borrowings ● The Group’s reverse factoring arrangements have both characteristics of operating and financing. Under IFRS 9 there is no explicit guidance as to when to classify a reverse factoring arrangement as operating or financing debt. The assessment involves judgment and careful consideration of all relevant facts and circumstances per arrangements. Previously, the Group classified all reverse factoring arrangements as Trade and other payables. Upon reassessing the facts and circumstances, the Group concluded that some reverse factoring arrangements are more akin to financing arrangements due to the fact the Group pays interest which it normally does not to suppliers. Therefore, the Group has reclassified such arrangements from Trade and other payables to Borrowings (current). Based on this analysis of the reverse factoring arrangements, the Group identified the following errors: – As of December 31 and January 1, 2020, and June 30, 2021, the Group decreased Trade and other payables, net and increased Borrowings (current) by $10,240, $8,301, and $13,671 (unaudited), respectively. – For the twelve-month period ended December 31 2020 and 2019, the Group’s classification error of reverse factoring arrangements that possess financing characteristics from operating to financing cash flows amounted to $17,481 and $20,526, respectively. – Unaudited - For the six-months period ended June 30, 2021 and 2020, the Group’s classification error of reverse factoring arrangements that possess financing characteristics from operating to financing cash flows amounted to $17,549 and $6,737, respectively. These corrections discussed above, related to factoring and reverse factoring, have no effect on total current liabilities and are presented as “Restatement Adjustments” in the tables included below. The following tables reflect the impact of the errors and other reclassifications to the specific financial statements line items presented in the Group´s previously reported consolidated financial statements. I. Effect of the restatement on annual financial information The restated Statement of Financial Position for the historical periods presented is as follows. As of December 31, 2020 As of January 1, 2020 Balance Sheet, restated As reported Restatement As restated As reported Restatement As restated Current liabilities Borrowings 102,621 12,159 114,780 90,157 9,818 99,975 Trade and other payables, net 106,275 (12,159 ) 94,116 114,426 (9,818 ) 104,608 In addition to correcting the Statement of Financial Position and Consolidated Statement of Cash Flow, certain information within the following notes to the Consolidated Financial Statements have been restated to reflect the correction of misstatements discussed above: – Note 19. Borrowings – Note 21. Trade and other payables, net – Note 27. Financial instruments The restatement of the Consolidated Statement of Cash Flow for the historical periods resulted in the following impact: For the twelve month period ending December 31, 2020 For the twelve month period ending December 31, 2019 As Restatement 1 Other 2 As As reported Restatement 1 Other 2 As Operating activities (Increase)/decrease in operating Trade and other payables (8,149 ) 19,944 — 11,795 12,116 20,526 — 32,642 Interest paid — (1,839 ) — (1,839 ) — (2,216 ) — (2,216 ) Cash flow provided by (used in) operating activities 52,815 18,105 — 70,920 49,976 18,310 — 68,286 Investing activities: Advances to related parties — — — — — — (289 ) (289 ) Proceeds from related parties — — 195 195 — — 332 332 Cash flow provided by (used in) investing activities (17,286 ) — 195 (17,091 ) (12,112 ) — 43 (12,069 ) Financing activities: Proceeds from borrowings 106,736 — — 106,736 96,392 — — 96,392 Payments on borrowings (106,375 ) (19,944 ) 5,733 (120,586 ) (101,961 ) (20,526 ) 4,070 (118,417 ) Advances to related parties — — — — (289 ) — 289 — Proceeds from related parties 195 — (195 ) — 332 — (332 ) — Interest paid on borrowings (16,941 ) 1,839 — (15,102 ) (18,500 ) 2,216 — (16,284 ) Payment of lease liabilities — — (5,733 ) (5,733 ) — — (4,070 ) (4,070 ) Cash Flow generated from (used in) financing activities (22,209 ) (18,105 ) (195 ) (40,509 ) (28,596 ) (18,310 ) (43 ) (46,949 ) 1 In addition to the errors related to factoring and reverse factoring arrangements, this column includes an error related to the classification of interest paid on lease liabilities from financing into operating cash flows. 2 Certain reclassifications have been made to prior years Consolidated Statement of Cash Flows to conform to the current year presentation, which include the separate disclosure for payment of lease liabilities and presentation of cash flow to/from related parties regarding loans to such entities in investing activities. These reclassifications had no impact on previously reported loss for the years nor accumulated losses. The amounts financed under reverse factoring arrangements during each period are disclosed in the non-cash items footnote below the Consolidated Statement of Cash Flows. II. Effect of the restatement on unaudited condensed consolidated interim financial information (Unaudited) The Group concluded that the financial statements contained in the Group's interim condensed consolidated financial statements for the interim periods ended June 30, 2021, and June 30, 2020 in the Group’s registration statement on Form F-1 filed with the Securities and Exchange Commission on November 24, 2021, and declared effective on December 6, 2021, also were materially misstated because of the errors discussed above. The restatement of the Statement of Financial Position for the historical interim periods resulted in the following impacts. Unaudited Condensed Consolidated Interim Statement of Financial Position As of June 30, 2021 Balance Sheet, restated As reported Restatement As restated Current liabilities Borrowings 95,262 17,479 112,741 Trade and other payables, net 113,117 (17,479 ) 95,638 The restatement of the Cash Flow Statement for the historical interim periods resulted in the following impact: Unaudited Condensed Consolidated Interim Statement of Cash Flows For the six month period ending For the six month period ending As reported Restatement Adjustments (1) As restated As reported Restatement Adjustments (2) As restated Operating activities (Increase)/decrease in operating assets and liabilities: Trade and other payables 3,275 18,864 22,139 (15,584 ) 7,715 (7,869 ) Interest paid — (1,015 ) (1,015 ) (978 ) (978 ) Cash flow provided by (used in) operating activities (1,499 ) 17,849 16,350 27,440 6,737 34,177 Cash flow provided by (used in) investing activities (9,583 ) — (9,583 ) (6,467 ) — (6,467 ) Financing activities: Proceeds from borrowings 94,744 596 95,340 55,538 — 55,538 Payments on borrowings (56,640 ) (18,445 ) (75,085 ) (47,734 ) (6,737 ) (54,471 ) Cash Flow generated from (used in) financing activities 26,636 (17,849 ) 8,787 (6,162 ) (6,737 ) (12,899 ) (1) The restatement adjustment related to trade and other payables consist of errors related to reverse factoring of $17,549 thousand, factoring of $300 thousand and interest paid on lease liabilities of $1,015 thousand. (2) The restatement adjustment related to trade and other payables consist of errors related to reverse factoring of $6,737 thousand and interest paid on lease liabilities of $978 thousand.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2021
Disclosure of significant accounting policies [text block] [Abstract]
Summary of significant accounting policies	Note 3. Summary of significant accounting policies Note 3.1. Goodwill Goodwill arising from the acquisition of a business is recorded at cost at the acquisition date, less accumulated impairment losses, if any. Goodwill is stated at cost and not amortized but is tested for impairment on an annual basis and whenever there is an indicator that the cash-generating unit to which goodwill has been allocated may be impaired. 3.1.1 Goodwill impairment Goodwill is tested for impairment annually at the cash-generating unit level, which is the level at which the assets generate largely independent cash inflows and are monitored for internal management purposes. An impairment loss is recognized whenever the carrying amount of an asset or the related cash-generating unit exceeds its recoverable amount. Impairment losses are recognized in the consolidated statements of profit or loss. Impairment losses recognized for cash-generating units first reduce allocated goodwill and then the carrying amounts of the other assets in the unit on a pro rata basis. Refer to Note 12. Goodwill and Note 4. Critical accounting judgements and key sources of estimation uncertainty or further information on the goodwill exposure and estimates applied, respectively. Note 3.2. Transactions in foreign currency When preparing the financial statements of the individual underlying entities of the Group, transactions in a currency other than the functional currency of the entity (“foreign currency”) are recorded using the exchange rates in effect on the transaction date. At the end of each reporting period, monetary items denominated in a foreign currency are reconverted at the exchange rates prevailing at that date. Non-monetary items calculated in terms of historical cost, in foreign currency, have not been reconverted. For purposes of presenting the consolidated financial statements, the assets and liabilities of the Group’s foreign currency transactions are expressed in USD, using the exchange rates prevailing at the end of the respective reporting period. Revenues and expenses are translated at the average exchange rates for the respective period. The exchange differences that arise, if applicable, are recognized through other comprehensive income and are accumulated in equity (attributed to the non-controlling interests when appropriate). Note 3.3. Leases - Right-of-use assets & lease liabilities The Group assesses whether a contract is or contains a lease at inception of a contract. The Group recognizes a right-of-use asset and a corresponding lease liability with respect to all lease agreements in which it is the lessee, except for short-term leases (defined as leases with a lease term of 12 months or less) and leases of low value assets (defined as assets with a value less than $5,000). For these leases, the Group recognizes the lease payments as an operating expense on a straight-line basis over the term of the lease, and payments for these leases are presented in the combined statements of cash flows from operating activities. The right-of-use assets comprise the initial measurement of the corresponding lease liability, lease payments made at or before the commencement date and any initial direct costs. They are subsequently measured at cost less accumulated depreciation and impairment losses. The right-of-use assets are depreciated starting at the commencement date and over the shorter period of useful life of the underlying asset (in the case the lease transfers ownership of the underlying asset to the Group by the end of the lease term or cost of the right-of-use assert reflects that the Group will exercise a purchase option) and lease term. The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted by using the interest rate implicit in the lease. If this rate cannot be readily determined, the Group uses its incremental borrowing rate specific to the country, term and currency of the contract. In addition, the Group considers its recent indebtedness as well as publicly available data for instruments with similar characteristics when calculating the incremental borrowing rates. Lease payments include fixed payments, less any lease incentives, variable lease payments that depend on an index or a rate known at the commencement date, and purchase options or extension option payments if the Group is reasonably certain to exercise these options. Variable lease payments that do not depend on an index or rate are not included in the measurement of the lease liability and right-of-use asset and are recognized as an expense in the combined income statements in the year/period in which the event or condition that triggers those payments occurs. A lease liability is remeasured upon a change in the lease term, changes in an index or rate used to determine the lease payments or reassessment of exercise of a purchase option. The corresponding adjustment is made to the related right-of-use asset. The lease liability is presented in the ‘Borrowings’ line and the right-of-use assets are presented in a single line in the consolidated balance sheet. In addition, the principal portion of the lease payments is presented within financial activities and the interest component is presented within operating activities in the consolidated statements of cash flows. Note 3.4. Financial Instruments Financial assets and liabilities are recognized when an entity of the Group becomes party to the contractual provisions of an instrument. Financial assets and liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and liabilities (other than those designated at fair value through profit or loss) are added to or deducted from the fair value of the financial assets or liabilities, when appropriate, at initial recognition. Transaction costs directly attributable to the acquisition of financial assets or liabilities designated at fair value through profit or loss are recognized immediately through profit or loss. 3.4.1 Classification of financial assets If and when applicable the Company follows the framework and requirements outlined in IFRS 9 to classify financial assets based on whether: ● The financial asset is held within a business model whose objective is to collect contractual cash flows or whose objective is achieved through the collection of contractual cash flows and the sale of financial assets; and ● The contractual terms give rise to cash flows that are only payments of principal and interest. By default, all other financial assets are subsequently measured at fair value through profit or loss. Trade receivables are amounts due from customers for goods sold or services performed in the ordinary course of business. They are generally due for settlement within 30 days and are therefore all classified as current. Trade receivables are recognized initially at the amount of consideration that is unconditional, unless they contain significant financing components, when they are recognized at fair value. The Group holds the trade receivables with the objective of collecting the contractual cash flows and therefore measures them subsequently at amortized cost using the effective interest method. 3.4.2 Gains and losses in foreign currency Trade receivables denominated in a currency other than the subsidiaries’ functional currency is determined in that foreign currency and converted to the subsidiaries’ functional currency at the end of each reporting period using the then prevailing spot rate. Exchange differences are recognized through profit or loss and are classified within other expenses. 3.4.3 Impairment of financial assets The Group recognizes a provision for expected credit losses on trade and other receivables. The Group applies the ‘simplified’ approach as required by IFRS 9 since generally the Group’s trade receivables do not include a significant financing component. The Group therefore recognizes the lifetime expected credit losses over the life of the trade and other receivables. Other receivables are generally assessed individually and a lifetime expected credit loss is estimated based on the receivable and debtor specific facts and circumstances. 3.4.4 Definition of default The Group considers that an event of default has occurred when more than 50% of the customers trade receivable balance is more than 90 days overdue, unless there is reasonable and supportable information to demonstrate that such default is not in existence. 3.4.5 Impaired trade receivables A financial asset has been impaired when one or more events have occurred that have a negative impact on the estimated future cash flows of the trade receivable. The evidence of credit impairment includes observable data on the following events: ● significant financial difficulty of the customer; ● customer enters into or is likely to enter into bankruptcy; ● a breach of contract, such as an expired event; ● for economic or contractual reasons one or more concessions have been granted. 3.4.6 Measurement of impairment The expected credit losses on trade receivables are estimated using a methodology where a probability of default is estimated based on historical information, adjusted for current and forecasted economic conditions, if applicable. If applicable and significant, the Group may adjust the provision based on a probability weighing of various scenarios and factors in the time value of money: ● Probability of default (‘PD’): The PD is derived by analyzing a rolling dataset of twenty-four months in which trade receivables are tracked and analyzed as they move through the aging buckets. ● Loss given default: The Group typically defines the loss given default to be one hundred percent. ● Exposure at default: The trade receivable balance as of the reporting date, net of advances and credit notes. As of the reporting dates presented, the Group has not deemed these to be significant. The Group estimates the probability of default at the pool level and then applies such pool level PD to the trade receivables within that pool. The Group generally defines each pool within its main subsidiaries as: ● Domestic ● Export ● Government ● Related parties The Group recognizes an impairment loss or gain in the aggregate for all trade receivables as a provision with corresponding amount recognized in Administrative expenses The Group writes-off individual trade receivables when uncollected when they become 365 days past due. 3.4.7 Derecognition of financial assets The Group derecognizes a financial asset only when the contractual rights to the asset’s cash flows expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership of the asset to another party. If the Group does not transfer or retain substantially all risks and rewards of ownership and continues to control the transferred asset, the Group recognizes its interest retained in the asset and an associated liability for the amounts to be paid. If the Group retains substantially all the risks and rewards of ownership of a transferred financial asset, the Group continues to recognize the financial asset and also recognizes a loan secured by the revenue received. Upon derecognition of a financial asset measured at amortized cost, the difference between the carrying amount of the asset and the sum of the consideration received and receivable is recognized through profit or loss. The Group also derecognizes a financial asset when there is information which indicates that the counterparty is in serious financial difficulty and there is no realistic prospect of recovery. The derecognized financial assets may still be subject to compliance activities in accordance with the Group’s recovery procedures, taking into account legal advice when appropriate. Any recovery is recognized through profit or loss. Accounts receivable Factoring As part of the regular business and in case of immediate cash needs, the Group could sell its accounts receivable (i.e., invoices) to a third party (factor) at a discount. The Group analyzes whether these transactions are with recourse without recourse with recourse, Note 3.5. Inventories, net Inventories are presented at the lower of acquisition cost or net realizable value. Cost is determined by the weighted average method. The net realizable value represents the estimated sale price less all the estimated termination and selling costs. The cost of finished products and products in progress includes the costs of raw materials, direct labor, other direct costs and the respective direct production expenses (based on normal operating capacity), excluding borrowing costs. Inventories are presented net of the allowances for obsolescence and, in consolidation, net of eliminations of unrealized profit on inventories. Note 3.6. Property, plant and equipment, net Property, plant and equipment assets are measured at historical cost less accumulated depreciation and any impairment loss, except for those acquired in a business combination, which are then recorded at fair value; assets under construction and land are not depreciated. The cost of the property, plant and equipment is the fair value of the consideration initially provided to acquire or construct the item and prepare it for use. Subsequent costs incurred for repair and maintenance, are expensed in the consolidated statements of comprehensive income unless these costs meet the criteria for capitalization (i.e. extension of the useful life). Depreciation commences when the assets are ready for use. Property, plant and equipment is depreciated based on the straight-line method over estimated useful lives. An item of property, plant and equipment will be derecognized upon disposal or when future economic benefits from the continued use of the asset are no longer expected. The gain or loss arising from the derecognition is measured as the difference between the gain on sale and the carrying amount of the asset and is recognized through profit or loss. The useful lives of property, plant and equipment are: Buildings 20 - 40 years Machinery and equipment 10 - 20 years Furniture and fixtures 2 - 10 years Other equipment 2 - 5 years Note 3.7. Intangible assets 3.7.1 Intangible assets generated internally Disbursements originated by research activities are recognized as an expense in the period in which they are incurred. An intangible asset generated internally as a result of development activities (or the development phase of an internal project) is recognized if, and only if, the following conditions are met: ● It is commercially and technically feasible to complete the production of the intangible asset so that it can be available for use or sale; ● Management intends to complete the intangible asset in question in order to use or sell it or can demonstrate the way in which the intangible asset will likely generate future economic benefits; ● Adequate technical, financial or other resources are available to complete the development and to use or sell the intangible asset; and ● The Group is able to reliably measure the disbursement attributable to the intangible asset during its development. The expenses incurred in developing new pharmaceutical technologies, combination of active ingredients and formulation improvements, meet the conditions of the previous paragraph, usually from the beginning of pilot batches (completion of the experimental batch stage), at which point management considers that achieving regulatory approval (sanitary registration) is a legal formality. The amount initially recognized for an internally generated intangible asset will be the sum of the disbursements incurred once the element meets the recognition conditions. When an internally generated intangible asset cannot be recognized, development disbursements are charged through profit or loss in the period in which they are incurred. Subsequent to initial recognition, an internally generated intangible asset will be accounted for at cost less accumulated amortization and the accumulated amount of impairment losses, on the same basis as intangible assets that are acquired separately. 3.7.2 Disposal of intangible assets An intangible asset is written off at the time of its disposal, or when future economic benefits of its use or disposal are not expected. Gains or losses arising from the write-off of an intangible asset, measured as the difference between the net proceeds from the sale and the carrying amount of the asset, are recognized through profit or loss when the asset is written off. 3.7.3 Impairment of definite-lived tangible and intangible assets and intangibles not yet available for use, and other assets At the end of each reporting period, the Group evaluates the carrying amounts of its definite-lived tangible and intangible assets and those intangibles not yet available for use in order to identify any indication that these assets have been impaired. In such a case, the recoverable amount of the asset is calculated in order to determine the extent of the impairment loss (if any). When it is not possible to estimate the recoverable amount of an individual asset, the Group calculates the recoverable amount of the cash generating unit to which the asset belongs. When a reasonable and consistent basis of distribution is identified, the common assets are also allocated to the individual cash generating units or distributed to the smallest group of cash generating units for which a reasonable and consistent distribution base can be identified. The recoverable amount is the higher of the fair value less disposal costs and the value in use. When estimating the value in use, the estimated future cash flows are discounted to the present value, using a pre-tax discount rate that reflects the current market valuations with respect to the time value of money and the specific risks for the asset for which the future cash flow estimates have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) calculated is less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. Impairment losses are recognized immediately through profit or loss. If an impairment loss is subsequently reversed, the carrying amount of the asset (or cash-generating unit) increases to the revised estimated value of its recoverable amount, so that the increased carrying amount does not exceed the carrying amount that would have been calculated if the impairment loss had not been recognized for said asset (or cash-generating unit) in previous years. The reversal of an impairment loss is automatically recognized through profit or loss. 3.7.4 Amortization of internally generated intangibles Internally generated intangible assets such as licenses, bioequivalence studies, new platforms, tablet improvements, combinations and concentrations, and soft gel capsule improvements, among others, are of finite useful lives and their amortization period will begin only when the following two milestones are met: ● The pre-industrial batch is completed with satisfactory results. ● The regulatory body approves the corresponding sanitary registration. When these milestones are met, the capitalized developments will have met the necessary conditions to generate economic benefits in accordance with management’s expectations, so the amortization of the assets begins using the straight-line method through profit or loss during the minimum projected time of generated economic benefits. The amortization will also cease at the earliest of either the date when the asset is classified as held for sale or the date when the asset is derecognized. 3.7.5 Useful lives of intangibles The following useful lives are used to calculate amortization: Trademarks and sanitary records 3 – 20 years Licenses, customers and agreements 3 – 10 years Product development 3 years Note 3.8. Financial liabilities and equity instruments 3.8.1 Classification as debt or equity Debt and equity instruments are classified as financial liabilities or equity in accordance with the substance of the contractual agreement and definitions of financial liability and equity instrument. 3.8.2 Equity instruments An equity instrument consists of any contract that evidences a residual interest in the assets of an entity, after deducting all of its liabilities. Equity instruments issued by a Group entity are recognized for income received, net of direct issue costs. The repurchase of equity instruments of the Group is recognized and deducted directly in equity. No gain or loss is recognized through profit or loss, arising from the purchase, sale, issue or cancellation of the equity instruments of the Group. 3.8.3 Financial liabilities Financial liabilities are classified at their inception at fair value through profit or loss or at amortized cost, using the effective interest amortization method. 3.8.4 Warrant liabilities The Group has warrants that are initially recognized at fair value on the date a derivative contract is entered into, and they are subsequently remeasured to their fair value at the end of each reporting period. Gains and losses will be recorded in profit or loss. 3.8.5 Shares held in escrow The shares to be delivered, in an escrow, are initially recognized at fair value of the equity instruments granted for services received in an equity-settled share-based payment determined at grant date, and they are subsequently remeasured to their fair value at the end of each reporting period until they are released from escrow or are forfeited. Note 3.9. Trade and other payables, net Trade and other payables are recognized when the Group has a legal or a constructive obligation, as a result of a past event, and it is probable that there may be an outflow of resources embodying economic benefits to settle the obligation and the obligation can be measured reliably. These amounts represent liabilities for goods and services provided to the Group prior to the end of financial year which are unpaid. The average credit period for purchases is between 90 and 180 days, including cases in which the invoices have been assigned by the supplier to third parties. Other payables correspond mainly to employment obligations and provisions. Reverse factoring Suppliers of the Group initiate and enter into reverse factoring arrangements in which the Group participates. Under such arrangements suppliers sell or assign their receivables from the Group to third parties (i.e. ‘the factor’), after which the Group pays and settles the underlying invoices directly with the factors. Provided that certain conditions are met, the invoices sold or assigned to factors remain classified within trade and other payables. The criteria are that: 1) the assignment is contractually initiated and decided by the supplier, 2) it does not extend the period in which the Group regularly pays the supplier, 3) the amount of the invoices is not modified, and there are no charges in this regard by third parties. Otherwise, the Group reclassifies those balances as a financial liability, other term loans with a corresponding reclassification from operating cash flows to financing cash flows, for the amount paid to factors. Note 3.10. Taxes Income tax expense represents the sum of current income tax payable and deferred tax. 3.10.1 Current tax Current tax is based on the taxable income registered during the year. The taxable income differs from the income reported in the consolidated statement of profit or loss and other comprehensive income, due to the items of income or expenses that are taxable or deductible in other years and items that are never taxable or deductible. The liabilities of the Group for current tax purposes are calculated using the tax rates enacted or substantially approved at the end of the respective reporting period. 3.10.2 Deferred tax Deferred tax is recognized on temporary differences between the carrying amount of the assets and liabilities included in the consolidated financial statements and the corresponding tax basis used to determine the taxable income. The deferred tax liability is generally recognized for all temporary tax differences. A deferred tax asset will be recognized, as a result of all deductible temporary differences, to the extent that it is likely that each entity will have future taxable income against which to charge those deductible temporary differences. These assets and liabilities are not recognized if the temporary differences arise from the initial recognition (rather than through a business combination) of other assets and liabilities in an operation that does not affect the taxable income or the accounting income. In addition, deferred tax liabilities are not recognized if the temporary difference arises from the initial recognition of goodwill. A deferred liability should be recognized for taxable temporary differences associated with investments in subsidiaries and joint ventures, and interests in joint ventures, except for those in which the Group is able to control the reversal of the temporary difference and when there is a possibility that it cannot be reversed in the near future. Deferred tax assets arising from the deductible temporary differences associated with such investments and participation are only recognized to the extent that it is likely that each entity will have future taxable profits against which to charge those temporary differences and when there is the possibility that these can be reversed in the near future. The carrying amount of a deferred tax asset must be reviewed at the end of each reporting period and reduced, to the extent that it is likely that it will not have sufficient taxable income in the future to allow all or part of the asset to be recovered. Deferred tax assets and liabilities should be measured using the tax rates expected to be applied in the period in which the asset is realized or the liability is settled, based on the rates (and tax laws) enacted or substantively enacted at the end of the respective reporting period. The measurement of deferred tax liabilities and deferred tax assets will reflect the tax consequences that would arise based on each Group company’s expectations, at the end of the reporting period, to recover or settle the carrying amount of their assets and liabilities. Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets, and relate to taxes levied by the same tax authority on the same taxable entity, or on different taxable entities. 3.10.3 Current and deferred taxes Current and deferred taxes should be recognized through profit or loss, except when they relate to items listed in other comprehensive income or directly in equity, in which case the current or deferred tax is also recognized though other comprehensive income or directly in the equity, respectively. In cases of business combinations, when the current tax or deferred tax arises from the initial accounting of the business combination, the tax effect is considered within the accounting of the business combination. Note 3.11. Provisions Provisions are recognized when (i) the Group has a present legal or constructive obligation as a result of past events, (ii) it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, and (iii) a reliable estimate of the amount of the obligation can be made. Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and, where appropriate, the risks specific to the liability. 3.11.1 Disputes and litigation A provision for disputes and litigation is recognized when it is more likely than not that the Group will be required to make future payments as a result of past events, such items may include but are not limited to claims, lawsuits and actions relating to employment related disputes and claims from tax authorities. Note 3.12. Employee benefits Note 3.12.1. Retirement and termination benefit costs Payments to defined contribution retirement benefit plans are recognized as an expense when employees has rendered service entitling them to the contributions. Payments made to state-managed retirement benefit plans are accounted for as payments to defined contribution plans where the Group’s obligations under the plans are equivalent to those arising in a defined contribution retirement benefit plan. For defined benefit retirement benefit plans, the cost of providing benefits is determined using the Projected Unit Credit Method, with actuarial valuations being carried out at the end of each annual reporting period. Remeasurements for actuarial gains and losses are recognized immediately in the consolidated statement of financial position with a charge or credit to other comprehensive income in the period in which they occur. Remeasurements recognized in other comprehensive income are not reclassified. Past service cost is recognized in profit or loss when the plan amendment or curtailment occurs or when the Group recognizes related restructuring costs or termination benefits, if earlier. Gains or losses on settlement of a defined benefit plan are recognized when the settlement occurs. Net interest is calculated by applying a discount rate to the net defined benefit liability. Defined benefit costs are split into three categories: ● service cost, which includes current service cost, past service cost and gains and losses on curtailments and settlements; ● net interest expense; and ● remeasurements. The retirement benefit obligation recognized in the consolidated statement of financial position represents the deficit or surplus in the Group’s defined benefit plans. Any surplus resulting from this calculation is limited to the present value of any economic benefits available in the form of refunds from the plans or reductions in future contributions to the plans. A liability for a termination benefit is recognized at the earlier of when the Group can no longer withdraw the offer of the termination benefit and when the Group recognizes any related restructuring costs. Discretionary contributions made by employees or third parties reduce service cost upon payment of these contributions to the plan. The Group recognized a net interest expense within finance costs as of December 31, 2021 of $67 (2020: $60, 2019: $47) while remeasurements of the calculations are reflected in the Statement of Other Comprehensive Income. Remeasurements of the calculations represented a decrease of $195 (increase 2020: $47, decrease 2019: $122). Note 3.12.2. Short-term and other long-term employee benefits A liability is recognized for benefits accruing to employees in the form of wages and salaries, annual leave and sick leave in the period the related service is rendered at the undiscounted amount of the benefits expected to be paid in exchange for that service. Liabilities recognized in respect of short-term employee benefits are measured at the undiscounted amount of the benefits expected to be paid in exchange for the related service. Liabilities recognized in respect of other long-term employee benefits are measured at the present value of the estimated future cash outflows expected to be made by the Group in respect of services provided by employees up to the reporting date. As of December 31, 2021, the Group recognized employee benefits costs within profit or loss as cost of sales of $25,051 (2020: $27,421, 2019: $23,688) and $62,200 (2020: $48,913, 2019: $52,956) as administrative expenses. Note 3.13. Revenue recognition The Group recognizes revenues from the sale of pharmaceutical products and the provision of services primarily related to product development projects. Revenue is measured based on the consideration specified in a contract with a customer and excludes balances collected on behalf of third parties. The Group recognizes revenue when transferring control of a product or service to a customer. 3.13.1 Sale of goods Revenue from the sale of goods is recognized when the control of the goods is transferred (both in export and domestic operations) and the performance obligations have been fulfilled by the Group, which occurs when the product is delivered to the location specified by the customer, according to the negotiating conditions agreed upon. Revenues are reduced by discounts or rebates and other similar allowances estimated for customers. 3.13.

Critical Accounting Judgements

Critical Accounting Judgements and Key Sources of Estimation Uncertainty	12 Months Ended
	Dec. 31, 2021
Disclosure of Critical Accounting Judgements and Key Sources of Estimation Uncertainty [Abstract]
Critical accounting judgements and key sources of estimation uncertainty	Note 4. Critical accounting judgements and key sources of estimation uncertainty In the application of the accounting policies, which are described in Note 3. Summary of significant accounting policies, management must make judgments, estimates and assumptions about the carrying amounts of the assets and liabilities that are not readily observable in other sources. The estimates and underlying assumptions are based on historical experience and other relevant factors. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed regularly. Changes to accounting estimates are recognized in the period of the review, if the change only affects that period, or in future periods if the change affects both the current and subsequent periods. Goodwill impairment Determining whether goodwill has been impaired involves calculating the value in use of the cash generating units to which the goodwill has been assigned. The calculation of value in use requires the entity to determine the future cash flows that should arise from the cash-generating units and an appropriate discount rate to calculate the present value. When actual future cash flows are less than expected, an impairment loss may arise. Goodwill impairment testing relies on a number of critical judgments, estimates and assumptions. Goodwill is tested for impairment at the cash generating unit level. The Group tests at least annually whether goodwill have suffered any impairment by calculating the recoverable amount of the cash generating unit and comparing this to its carrying value. The Group’s impairment testing methodology is in accordance with IAS 36, where the value in use approach is taken into consideration. The value in use calculations primarily use cash flow projections. There are a number of assumptions and estimates involved for the preparation of cash flow projections. Key assumptions include the growth rate, expected market share, expected gross margin and selection of discount rates, to reflect the risks involved. Management prepared the financial projections reflecting actual and prior year/period performance and market development expectations. Judgement is required to determine key assumptions adopted in the cash flow projections and changes to key assumptions can significantly affect these cash flow projections and therefore the results of the impairment reviews. Refer Note 12. Goodwill for further information on the goodwill exposure and estimates applied. Useful life of property, plant and equipment and amortization of intangibles with finite useful lives The Group reviews the estimated useful lives of property, plant and equipment and intangibles with finite useful lives at the end of each annual period. Reverse factoring Significant judgement is involved to evaluate whether a liability under a reverse factoring arrangement is in essence a continuation of an operating liability or a derecognition of the operating liability and recognition of a financing liability. The Group evaluates each of the four criteria carefully and applies judgment to the facts and circumstances as a whole. Specifically, whether interest charged from the suppliers to the Group creates a substantial change in the amount payable, i.e. financing. Factoring The Group enters into factoring arrangements where it sells or assigns certain trade receivables to third parties under both recourse and non-recourse programs. Similar, to reverse factoring, significant judgment is required under IFRS 9 to assess whether the Group has substantially transferred all risk and rewards incidental to the trade receivables to the factor. Specifically, whether or not the factor has the right to collect the unpaid invoice amount from the transferor (seller). Provisions for contingencies, litigation and lawsuits The litigation and lawsuits to which the Companies are exposed are managed by appropriate legal personnel and are primarily related to labor, civil and administrative disputes. The Group considers that a past event has given rise to a present obligation if there is no realistic alternative to settling the present obligation, independent of future events, considering all the evidence available at the reporting date. It is understood that the probability of an event is more likely than not when the probability of occurrence is greater than 50%, in which case the provision is recorded. The possible obligations that arise from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one to more uncertain future events that are not entirely under the control of the Group are not recognized in the consolidated statements of financial position but are disclosed as contingent liabilities. The occurrence or non-occurrence of events that are deemed remote are not recorded or disclosed. The Group utilizes the professional judgment of internal and external specialists to determine the possibility of the occurrence of a present obligation. In the estimation of the provision for litigation and lawsuits, Management considers assumptions such as appraisal of the attorneys, estimated duration of the litigation or lawsuit and statistical information of litigation or lawsuits with similar characteristics, among others. Impairment of accounts receivable The Group evaluates the impairment of its accounts receivable by the expected credit loss model where it determines its value based on the probability of default, the loss due to default (i.e., the extent of the loss in case of default) and the exposure in the default. The assessment of the probability of default and the loss due to default is based on historical data adjusted by prospective information. Further details of other judgments are in Note 3. Summary of significant accounting policies. Useful lives of right-of-use assets Right-of-use assets depreciate during the shorter of the lease term and the useful life of the underlying asset. If a lease transfers ownership of the underlying asset or the cost of the right-of-use asset reflects that the Group expects to exercise a purchase option, the asset related to the right of use depreciates during the useful life of the underlying asset. Depreciation begins at the commencement of the lease. Recognition of deferred tax assets Deferred tax assets are recognized for all deductible temporary differences only to the extent that it is probable that taxable profit will be available against which the deductible temporary difference can be utilized. In determining whether it is probable that taxable profit will be available to realize the Group’s deferred tax assets, the management considered the following sources of taxable income: ● Reversal of taxable temporary differences ● Future taxable profit excluding reversal of temporary differences ● Tax planning opportunities Reverse reorganization The excess between the fair value of the shares and equity instruments issued and the net assets acquired is treated as an expense under IFRS 2 (the ‘listing expense’) and it includes certain elements of judgement and estimation. This centers around the estimation of the fair value of OpCo prior to the Transaction and the fair value of the private warrants. The fair value of the OpCo was estimated using a combination of a market and income approach under IFRS 13 where the Company forecasted an annual adjusted EBITDA. A market based multiple, as negotiated amongst the independent parties to the Transaction, was then applied to the adjusted EBITDA to arrive at the enterprise value which was then adjusted for OpCo’s net debt. Private warrants The private warrants are recorded as financial liabilities on the consolidated statement of financial position and are remeasured on each reporting date. In assessing the fair value of the private warrants, a Black-Scholes option pricing formula for European calls was used since the warrants are not publicly traded. The model requires the input of subjective assumptions, including the volatility of its own ordinary shares, the expected life, and strike price of the warrants. Any changes in these assumptions can significantly affect the estimate of the fair value of the warrants. Shares held in escrow The shares to be delivered in an escrow are recorded as financial liabilities on the consolidated statement of financial position and are remeasured on each reporting date. In assessing the fair value of the shares, Monte Carlo simulation was applied in a risk-neutral framework assuming a Geometric Brownian Motion for the future stock price. This model is consistent with the Black-Scholes option pricing framework and was used to account for the path-dependent + 20 out of 30 day features.

New and Amended Ifrs Standards

New and Amended Ifrs Standards that are Effective for the Current Year	12 Months Ended
	Dec. 31, 2021
New and amended IFRS Standards that are effective for the current year [Abstract]
New and amended IFRS Standards that are effective for the current year	Note 5. New and amended IFRS Standards that are effective for the current year New and amended IFRS Standards that are effective for the current year Impact of the initial application of Covid-19-Related Rent Concessions Amendment to IFRS 16 In May 2020, the IASB issued Covid-19-Related Rent Concessions (Amendment to IFRS 16) that provides practical relief to lessees in accounting for rent concessions occurring as a direct consequence of COVID-19, by introducing a practical expedient to IFRS 16. The practical expedient permits a lessee to elect not to assess whether a COVID-19-related rent concession is a lease modification. A lessee that makes this election shall account for any change in lease payments resulting from the COVID-19-related rent concession the same way it would account for the change applying IFRS 16 if the change were not a lease modification. The practical expedient applies only to rent concessions occurring as a direct consequence of COVID-19 and only if all of the following conditions are met: a) The change in lease payments results in revised consideration for the lease that is substantially the same as, or less than, the consideration for the lease immediately preceding the change; b) Any reduction in lease payments affects only payments originally due on or before 30 June 2021 (a rent concession meets this condition if it results in reduced lease payments on or before 30 June 2021 and increased lease payments that extend beyond 30 June 2021); and c) There is no substantive change to other terms and conditions of the lease These changes have not given rise to financial effects for the Group as of December 31, 2021. Specific policies applicable from January 2021 for Interest Rate Benchmark Reform - Phase 2 (Amendment to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16) The Group has initially adopted Interest Rate Benchmark Reform Phase 2 - Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 (the Phase 2 amendments) from January 1, 2021. The Group has applied the Phase 2 amendments retrospectively. However, in accordance with the exceptions permitted in Phase 2 amendments, the Group has elected not to restate the prior period to reflect the application of these amendments, including not providing additional disclosures for 2020. There is no impact on opening equity balances as a result of retrospective application and the impact has considered not relevant to the Group. Under the detailed rules of IFRS 9 Financial Instruments, modifying a financial contract can require recognition of a significant gain or loss in the income statement. However, the amendments introduce a practical expedient if a change results directly from IBOR reform and occurs on an ‘economically equivalent’ basis. In these cases, changes will be accounted for by updating the effective interest rate. A similar practical expedient will apply under IFRS 16 Leases for lessees when accounting for lease modifications required by IBOR reform. The amendments also allow a series of exemptions from the regular, strict rules around hedge accounting. To allow users of financial statements to understand the effect of the reform on a company’s financial instruments and risk management strategy, a company will need to provide additional information about: ● the nature and extent of risks to which the company is exposed arising from financial instruments subject to IBOR reform and how it manages those risks; and ● the company’s progress in completing its transition to alternative benchmark rates and how it is managing that transition. The evaluation performed by management determined that there was not significant impact in relation to the Group as of December 31, 2021.

Recent Accounting Pronouncement

Recent Accounting Pronouncements Not Yet Adopted	12 Months Ended
	Dec. 31, 2021
Recent Accounting Pronouncements Not Yet Adopted [Abstract]
Recent accounting pronouncements not yet adopted	Note 6. Recent accounting pronouncements not yet adopted Certain new accounting standards and interpretations have been published that are not mandatory for the year ended December 31, 2021 and have not been early adopted by the Group. These standards are not expected to have a material impact on the entity in the current or future reporting periods and on foreseeable future transactions. As of the issue date of these consolidated financial statements, the following new and revised IFRS standards have been issued, but are not yet effective: IFRS 10 and IAS 28 - Amendments - Sales or contributions of assets between an investor and its associate or joint venture. The IASB has made limited scope amendments to IFRS 10 Consolidated financial statements Investments in associates and joint ventures The amendments clarify the accounting treatment for sales or contributions of assets between an investor and its associates or joint ventures. They confirm that the accounting treatment depends on whether the non-monetary assets sold or contributed to an associate or joint venture constitute a ‘business’ (as defined in IFRS 3 Business Combinations). Where the non-monetary assets constitute a business, the investor will recognize the full gain or loss on the sale or contribution of assets. If the assets do not meet the definition of a business, the gain or loss is recognized by the investor only to the extent of the other investor’s interests in the associate or joint venture. The amendments apply prospectively. The effective date of the amendments has not yet been set by the IASB; however, early application of the amendments is permitted. Annual Improvements to IFRS Standards 2018-2020 - Effective January 1, 2022 The following improvements were finalized in May 2020: IFRS 9 Financial Instruments IFRS 16 Leases IFRS 1 First-time Adoption of International Financial Reporting Standards IAS 41 A griculture Property, Plant and Equipment: Proceeds before Intended Use (Amendments to IAS 16) - Effective January 1, 2022 The amendment to IAS 16 Property, Plant and Equipment Entities must disclose separately the amounts of proceeds and costs relating to items produced that are not an output of the entity’s ordinary activities. Classification of Liabilities as Current or Non-current (Amendments to IAS 1) - Effective January 1, 2022 The narrow-scope amendments to IAS 1 Presentation of Financial Statements The amendments also clarify what IAS 1 means when it refers to the ’settlement’ of a liability. The amendments could affect the classification of liabilities, particularly for entities that previously considered management’s intentions to determine classification and for some liabilities that can be converted into equity. The amendments must be applied retrospectively in accordance with the normal requirements in IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors In May 2020, the IASB issued an Exposure Draft proposing to defer the effective date of the amendments to January 1, 2023. Reference to the Conceptual Framework – Amendments to IFRS 3 - Effective January 1, 2022 Minor amendments were made to IFRS 3 Business Combinations Provisions, Contingent Liabilities and Contingent Assets Levies Onerous Contracts – Cost of Fulfilling a Contract - Amendments to IAS 37 - Effective January 1, 2022 The amendment to IAS 37 clarifies that the direct costs of fulfilling a contract include both the incremental costs of fulfilling the contract and an allocation of other costs directly related to fulfilling contracts. Before recognizing a separate provision for an onerous contract, the entity recognizes any impairment loss that has occurred on assets used in fulfilling the contract.

Revenue

Revenue	12 Months Ended
	Dec. 31, 2021
Disclosure of revenue [text block] [Abstract]
Revenue	Note 7. Revenue The Group recognizes its revenues from the transfer of goods and services to the fulfillment of its performance obligations. The Group’s annual revenue includes $3,637 (2020: $2,213, 2019: $10,159) recognized from intellectual property licensing and dossier generation. Products The Group primarily engages in developing, producing and marketing pharmaceutical solutions. It is considered an integrated international healthcare and pharmaceutical company across the three core therapeutical areas: hospitals/clinics, pharmacies (prescription) and over-the-counter (non-prescription). The Group’s main products for the years ended December 31, 2021, 2020 and 2019 are: a. Business to Business Nextgel i. Softigel: Integrated CMDO, soft gelatin capsules, softgels, gummy-gels and GTabs. b. Business to Consumer Procaps Colombia, CAN and CASAND i. VitalCare: Branded drugs, consumer over-the-counter and generics ii. Clinical Specialties: High-complexity drugs and medical devices iii. Farma: Branded prescription drugs Diabetrics i. Diabetrics: Diabetes solutions and chronic disease management tool Disaggregation of revenue from contracts with customers Revenue from contracts with customers is disaggregated by primary geographical market and major products (refer to Note 8. Segment reporting) and by timing of revenue recognition in the table below. Reportable segments Year 2021 NextGel Procaps Colombia CAN CASAND Diabetrics Corporate Total Segment revenue 244,791 156,820 67,842 68,242 47,835 — 585,530 Intra-segment revenue (123,964 ) (1,493 ) (16,905 ) (14,286 ) (19,140 ) — (175,788 ) Revenue from contracts with customers 120,827 155,327 50,937 53,956 28,695 — 409,742 Timing of revenue recognition Goods transferred at a point in time 117,190 155,327 50,937 53,956 28,695 — 406,105 Services transferred over time 3,637 — — — — — 3,637 Total revenue from contracts with customers 120,827 155,327 50,937 53,956 28,695 — 409,742 Reportable segments Year 2020 NextGel Procaps Colombia CAN CASAND Diabetrics Corporate Total Segment revenue 201,294 121,532 44,808 40,094 39,221 2,431 449,380 Intra-segment revenue (95,315 ) (6,637 ) 805 (1,538 ) (16,432 ) 1,204 (117,913 ) Revenue from contracts with customers 105,979 114,895 45,613 38,556 22,789 3,635 331,467 Timing of revenue recognition Goods transferred at a point in time 103,766 114,895 45,613 38,556 22,789 3,635 329,254 Services transferred over time 2,213 — — — — — 2,213 Total revenue from contracts with customers 105,979 114,895 45,613 38,556 22,789 3,635 331,467 Reportable segments Year 2019 NextGel Procaps Colombia CAN CASAND Diabetrics Corporate Total Segment revenue 192,247 124,090 54,628 42,332 36,931 11,637 461,865 Intra-segment revenue (94,958 ) (3,977 ) (4,949 ) (2,271 ) (14,703 ) (16,215 ) (137,073 ) Revenue from contracts with customers 97,289 120,113 49,679 40,061 22,228 (4,578 ) 324,792 Timing of revenue recognition Goods transferred at a point in time 94,964 112,279 49,679 40,061 22,228 (4,578 ) 314,633 Services transferred over time 2,325 7,834 — — — — 10,159 Total revenue from contracts with customers 97,289 120,113 49,679 40,061 22,228 (4,578 ) 324,792 Revenue recognized from goods transferred at a point in time include revenues related to “sales of goods” and “sales of trademarks and sanitary provisions”. Revenue recognized from services transferred over time include revenues related to “intellectual property licensing” and “dossier generation”. Revenues, other than sales of goods, are not material to the group.

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2021
Disclosure of entity's operating segments [text block] [Abstract]
Segment reporting	Note 8. Segment reporting Segment information is presented at a combination of geographical segments and business units, consistent with the information that is available and evaluated regularly by the chief operating decision maker. The Group operates its business through five segments which are its reportable segments for financial reporting purposes: Procaps Colombia, Central America North (“CAN”), Central America South and North Andes (“CASAND”), NextGel and Diabetrics. Segment management, the respective Vice Presidents, are responsible for managing performance, underlying risks and operations. Management uses a broad set of performance indicators, to measure segment performance and to make decisions around resource allocation. The Group’s customer revenue recognition (external revenue) policy has been consistent with inter-segment revenue generated. NextGel Procaps Colombia CAN CASAND Year 2021 Total Inter- External Total Inter- External Total Inter- segment eliminations External Total Inter- segment eliminations External Revenue 244,791 (123,964 ) 120,827 156,820 (1,493 ) 155,327 67,842 (16,905 ) 50,937 68,242 (14,286 ) 53,956 Contribution margin 1 66,679 (12,573 ) 54,106 51,431 490 51,921 18,767 (231 ) 18,536 9,949 11,754 21,703 Diabetrics Corporate Total Year 2021 Total Inter- segment eliminations External Total Inter- segment eliminations External Total Inter- segment eliminations External Revenue 47,835 (19,140 ) 28,695 — — — 585,530 (175,788 ) 409,742 Contribution margin 1 6,981 (133 ) 6,848 89 (547 ) (458 ) 153,896 (1,240 ) 152,656 Administrative expenses — — — 82,187 — 82,187 82,187 — 82,187 Finance expenses — — — 78,636 — 78,636 78,636 — 78,636 Other expenses — — — 78,991 — 78,991 78,991 — 78,991 Income (loss) before tax (85,918 ) (1,240 ) (87,158 ) NextGel Procaps Colombia CAN CASAND Year 2020 Total Inter- segment eliminations External Total Inter- segment eliminations External Total Inter- segment eliminations External Total Inter- segment eliminations External Revenue 201,294 (95,315 ) 105,979 121,532 (6,637 ) 114,895 44,808 805 45,613 40,094 (1,538 ) 38,556 Contribution margin 1 52,679 (5,790 ) 46,889 43,926 (1,695 ) 42,231 9,197 6,324 15,521 9,001 813 9,814 Diabetrics Corporate Total Year 2020 Total Inter- segment eliminations External Total Inter- segment eliminations External Total Inter- segment eliminations External Revenue 39,221 (16,432 ) 22,789 2,431 1,204 3,635 449,380 (117,913 ) 331,467 Contribution margin 1 6,294 (807 ) 5,487 (10,157 ) 11,900 1,743 110,940 10,745 121,685 Administrative expenses — — — 58,631 — 58,631 58,631 — 58,631 Finance expenses — — — 54,489 — 54,489 54,489 — 54,489 Other expenses — — — 7,716 — 7,716 7,716 — 7,716 Income (loss) before tax (9,896 ) 10,745 849 NextGel Procaps Colombia CAN CASAND Year 2019 Total Inter- segment eliminations External Total Inter- segment eliminations External Total Inter- segment eliminations External Total Inter- segment eliminations External Revenue 192,247 (94,958 ) 97,289 124,090 (3,978 ) 120,112 54,628 (4,949 ) 49,679 42,332 (2,271 ) 40,061 Contribution margin 1 59,590 (20,394 ) 39,196 46,885 (9,465 ) 37,420 9,625 7,377 17,002 5,474 4,948 10,422 Diabetrics Corporate Total Year 2019 Total Inter- segment eliminations External Total Inter- segment eliminations External Total Inter- segment eliminations External Revenue 36,931 (14,703 ) 22,228 11,637 (16,215 ) (4,578 ) 461,865 (137,074 ) 324,791 Contribution margin 1 5,426 (580 ) 4,846 (8,847 ) (2,351 ) (11,198 ) 118,153 (20,465 ) 97,688 Administrative expenses — — — 60,257 — 60,257 60,257 — 60,257 Finance expenses — — — 42,983 — 42,983 42,983 — 42,983 Other expenses — — — 4,426 — 4,426 4,426 — 4,426 Income (loss) before tax 10,487 (20,465 ) (9,978 ) 1 Contribution margin is determined by subtracting sales and marketing expenses from gross profit. The Group’s customer revenue recognition (external revenue) policy has been consistent with inter-segment revenue generated. Major customer The Group does not have revenue from a single customer in excess of ten percent of its consolidated revenue. Geographical information In presenting information on the basis of geographical segments, segment revenue is based on the geographical location of the customers. 2021 2020 2019 South America $ 284,068 $ 249,983 $ 241,654 Central America 72,188 58,082 63,812 North America 44,857 12,576 15,202 Europe 8,629 10,826 4,124 Total $ 409,742 $ 331,467 $ 324,792 Changes in measurement methods The Group may periodically change business segments or reclassify business segment results based on modifications in management reporting methodologies or changes in organizational alignment. After the second quarter of 2021, the Group changed its internal measurement of segment profit and loss, reported to the chief operating decision maker for allocating resources to the segments and assessing its performance purposes. A modification was made in how cost of goods sold is measured in each segment by revising the allocation of standard cost inventory variances. As such, 2020 and 2019 results have been recast to conform with the current period presentation. The result of this measurement change reduced the 2020 (2019) reported contribution margin for NextGel, Procaps Colombia and CAN, by $2.4 million ($3.8 million), $3.2 million ($4.0 million) and $1.9 million ($1.5 million), respectively, with an offsetting increase in the Corporate category. This change in measurement of our segment results did not have any impact to the consolidated financial statements.

Finance Expenses, Net

Finance Expenses, Net	12 Months Ended
	Dec. 31, 2021
Disclosure of Finance Expenses, Net [Abstract]
Finance expenses, net	Note 9. Finance expenses, net As of December 31 2021 2020 2019 Banking expenses $ 1,056 $ 590 $ 428 Bank fees 2,263 986 855 Other financial expenses 354 281 157 Net fair value gain of warrant liabilities (5,851 ) — — Net fair value gain of shares held in escrow (4,506 ) — — Interest expense 85,320 52,632 41,543 Total $ 78,636 $ 54,489 $ 42,983 In 2021, interest on lease liabilities amounted to $720 (2020: $601, 2019: $771). Refer to Note 3.3. Leases - Right-of-use assets & lease liabilities for method of recognition of interest expense applied by the Group. Interest expense includes the finance expense related to the obligation to repurchase the Group’s ordinary shares from IFC and Hoche under the Put Option Agreements and is measured using the effective interest rate method, inclusive of eligible transaction costs. The amount of interest expense related to the put options recognized in 2021 amounts to $23,506 (2020: $27,344, 2019: $13,664). Additionally, an extinguishment loss of $35,920 was recognized, reflecting the re-negotiated commencement date for the annual return of the obligation under the Put Option Agreement with Hoche. On the effectiveness of the Transaction, September 29, 2021, both Put Option Agreements were terminated in exchange for ordinary shares issued by Holdco. The termination of the put option resulted in the associated liabilities to be reclassified into Company’s equity. The Group did not realize any significant finance income during 2021, 2020 or 2019.

Other Expenses, Net

Other Expenses, Net	12 Months Ended
	Dec. 31, 2021
Other expenses, net [Abstract]
Other expenses, net	Note 10. Other expenses, net As of December 31 2021 2020 2019 Currency exchange rate differences $ 4,026 $ 3,905 $ 1,827 Economic emergency contribution expenses 1,385 811 796 Fines, surcharges, penalties and taxes assumed 775 1,440 1,426 Donations 720 716 650 Listing expense (a) 73,917 — — Other (1,832 ) 844 (273 ) Total 78,991 7,716 4,426 (a) Corresponds to the difference between the fair value of the net assets received through the SPAC and the value of the equity interest issued, adjusted by dilutive effect of shares held in escrow at a weighted average fair value per share. Refer to Note 26.1. Reverse reorganization for further information related to the Transaction.

Income Tax

Income Tax	12 Months Ended
	Dec. 31, 2021
Disclosure of income tax [text block] [Abstract]
Income tax	Note 11. Income tax Income tax recognized through profit or loss As of December 31 2021 2020 2019 Current year 12,250 7,491 8,118 Current tax expense 12,250 7,491 8,118 Origination and reversal of temporary differences 1,455 3,805 (1,083 ) Deferred tax expense 1,455 3,805 (1,083 ) Total tax expense 13,705 11,296 7,035 Reconciliation of effective tax rate As of December 31 2021 2020 2019 Profit/ (loss) before tax (87,158 ) 849 (9,978 ) Income tax (benefit)/expense (14,817 ) 297 (3,492 ) Tax effect of expenses that are not deductible in determining taxable profit 49,442 13,525 8,289 Tax effect of income not taxable in determining taxable profit (8,822 ) (7,754 ) (10,550 ) Effect of different tax rates of subsidiaries operating in other jurisdictions (9,423 ) 1,960 160 Others - Includes exchange effects for reversal rates of long-term temporary differences, income taxed at differential rates, effects of change in deferred tax rate and tax discounts (2,675 ) 3,200 12,343 Tax effect of utilization of tax losses not previously recognized — 68 285 Tax expense for the year 13,705 11,296 7,035 The tax rate used for 2021 represents the corporate tax rate of 17% (2020: 35%, 2019: 35%) from Luxembourg on the taxable income payable by the Group, in accordance with the tax laws of said jurisdiction. Income tax for other jurisdictions is calculated based on the substantially enacted nominal tax rates prevailing in the respective jurisdictions. After effectiveness of the Transaction on September 29, 2021, the Group’s corporate tax jurisdiction changed from Malta to Luxembourg where the corporate tax rate is 17%. On September 14, 2021, Colombia’s President approved the Social Investment Law (Ley de Inversión Social, or the “2021 Colombian Tax Reform”), which included certain tax measures intended to generate additional tax revenues to fund social programs for purposes of mitigating the impact of the COVID-19 pandemic. The 2021 Colombian Tax Reform took effect beginning in 2022 and, among other things, includes a corporate tax rate increase from 30% to 35% for both domestic and foreign entities, permanent establishments and branches. Current tax assets and current tax liabilities: As of December 31 Current tax assets 2021 2020 Income Tax Advance 6,081 1,070 Income Tax Withholding — 5,880 Surplus in Private Liquidation 15,732 8,839 Other Tax Assets 269 985 Total 22,082 16,774 Current tax liabilities Income Tax Withholding (8,982 ) (4,690 ) Income Tax Payable (2,652 ) (4,296 ) Other Tax Liabilities (122 ) (407 ) Total (11,756 ) (9,393 ) As of December 31, 2021 and 2020, the following is the detail of the tax losses and excess presumptive income of the Company that have not been used and on which no active deferred tax has been recognized: As of December 31 2021 2020 Tax Losses not utilized 3,242 2 Tax Credits not utilized — 257 Total 3,242 259

Goodwill

Goodwill	12 Months Ended
	Dec. 31, 2021
Disclosure of goodwill [text block] [Abstract]
Goodwill	Note 12. Goodwill As of December 31 2021 2020 Balance at beginning of the year/period $ 6,863 $ 7,020 Effect of movements in foreign exchange (60 ) (157 ) Balance at end of the year/period $ 6,803 $ 6,863 As of December 31, 2021 and 2020, no goodwill impairment losses were recognized. The Group completed its annual impairment test for goodwill for the years ended December 31, 2021 and 2020 and concluded that no impairment charge was warranted. The results of the impairment tests indicate the excess of the recoverable amounts over the carrying amounts for each cash generating unit. The Group cannot predict whether an event that triggers impairment will occur, when it will occur or how it will affect the value of the asset reported. The Group believes that all of its estimates are reasonable and are consistent with the Group’s internal reporting and reflect management’s best estimates. Allocation of goodwill to cash generating units For the purpose of impairment testing, goodwill has been allocated to the following cash-generating units: 2021 2020 Procaps S.A. de C.V (previously Laboratorios Lopez S.A. de C.V.) $ 549 $ 549 Biokemical S.A. de C.V. 5,242 5,241 Rymco S.A. 1,012 1,073 $ 6,803 $ 6,863 Procaps S.A. de C.V (previously Laboratorios Lopez S.A. de C.V.) Cash flow projections during the budgeted period are based on a sales growth rate and fixed gross margins of 6.2% and 49.0%, respectively. The growth rate is estimated by the directors based on past performance and their expectations of market development. The estimated recoverable amount of the cash generated unit exceeded its carrying amount by $10,386 (2020: $8,833). Biokemical S.A. de C.V. Cash flow projections during the budgeted period are based on a sales growth rate and average gross margins of 3.8% and 41.4%, respectively. The growth rate is estimated by the directors based on past performance and their expectations of market development. The estimated recoverable amount of the cash generated unit exceeded its carrying amount by $5,932 (2020: $1,426). Rymco Cash flow projections during the budgeted period are based on a sales growth rate and average gross margins of 11.6% and 18.0%, respectively. The growth rate is estimated by the directors based on past performance and their expectations of market development. The estimated recoverable amount of the cash generated unit exceeded its carrying amount by $5,766 (2020: $4,283). The key assumptions used in the value-in-use calculations for the cash generating units are the following: ● Growth rate: the rate is consistent with the growth of the pharmaceutical and medical supplies markets in the current and potential operating areas of the cash generating units. Management considers any potential reasonable change in the key assumptions on which the recoverable amount is based would not cause the total carrying amount to exceed the total recoverable amount of the cash generating unit. ● Expected market share: Growth of 6.2% and 3.8% for Procaps S.A. de C.V (previously Laboratorios Lopez S.A. de C.V.) and Biokemical, respectively, in sales is consistent with the increase in population, the increase in life expectancy and the growth of the industry in Latin America. Management considers that the planned growth of market share for the next six years is reasonably achievable. ◦ For Rymco, its commercial portfolio is dedicated to assist with the COVID-19 epidemic resulting in enhanced market share. Rymco offers three-layer hospital masks and has the capacity to produce more than 12 million units of masks per month, which has positively impacted market share. Lastly, purchase orders resulted in production at capacity during 2021. ● Expected gross margin: Gross margin decreased by 71.5% in 2021 when compared to 2020. Out of the mentioned decrease, 67.7% is due to Rymco.

Intangible assets

Intangible assets	12 Months Ended
	Dec. 31, 2021
Disclosure of intangible assets [text block] [Abstract]
Intangible assets	Note 13. Intangible assets Cost Trademarks Licenses, Product Total Balance as of January 1, 2020 10,908 17,719 10,514 39,141 Additions 24 1,130 — 1,154 Additions from internal developments 421 970 7,674 9,065 Derecognition of assets — (162 ) — (162 ) Foreign currency exchange 88 (748 ) 84 (576 ) Reclassifications 1,735 (1,735 ) — — Balance as of December 31, 2020 13,176 17,174 18,272 48,622 Additions 1,672 755 — 2,427 Additions from internal developments — — 7,976 7,976 Derecognition of assets — (7 ) — (7 ) Foreign currency exchange (631 ) (1,475 ) (2,986 ) (5,092 ) Reclassifications and others 489 (512 ) 23 — Balance as of December 31, 2021 14,706 15,935 23,285 53,926 Accumulated amortization Trademarks Licenses, Product Total Balance as of January 1, 2020 2,146 12,370 1,424 15,940 Amortization expense 1,310 1,633 3,036 5,979 Foreign currency exchange 25 (1,235 ) 330 (880 ) Balance as of December 31, 2020 3,481 12,768 4,790 21,039 Amortization expense 787 965 3,064 4,816 Derecognition of assets — (7 ) — (7 ) Foreign currency exchange (277 ) (976 ) (840 ) (2,093 ) Reclassifications and others 241 (237 ) (4 ) — Balance as of December 31, 2021 4,232 12,513 7,010 23,755 As of December 31, 2020 Net book value 9,695 4,406 13,482 27,583 As of December 31, 2021 Net book value 10,474 3,422 16,275 30,171 For the years ended December 31, 2021, 2020 and 2019 amortization expenses are recognized within the Statement of Profit and loss as sales and marketing expenses. Also, foreign currency exchange corresponds to the effect of translating the intangible asset amounts attributable to the subsidiaries of the Group whose functional currencies are different from that of the Group.

Property, plant and equipment,

Property, plant and equipment, net	12 Months Ended
	Dec. 31, 2021
Disclosure of Property, Plant and Equipment, Net [Abstract]
Property, plant and equipment, net	Note 14. Property, plant and equipment, net Cost Land and Machinery and Projects in Other 1 Total Balance as of January 1, 2020 28,111 69,511 8,444 8,537 114,603 Additions 32 1,419 5,118 1,130 7,699 Disposals (274 ) (527 ) — (55 ) (856 ) Effect of exchange differences in foreign currency (1,567 ) (4,159 ) (272 ) (157 ) (6,155 ) Reclassification between categories 517 3,420 (3,960 ) 23 — Balance as of December 31, 2020 26,819 69,664 9,330 9,478 115,291 Additions 487 4,764 10,019 167 15,437 Disposals (289 ) (350 ) — (15 ) (654 ) Effect of exchange differences in foreign currency (1,180 ) (8,930 ) (1,130 ) (515 ) (11,755 ) Reclassifications and others 4,482 6,518 (7,578 ) (5,087 ) (1,665 ) Balance as of December 31, 2021 30,319 71,666 10,641 4,028 116,654 Accumulated depreciation Land and Machinery and Projects in Other 1 Total Balance as of January 1, 2020 7,323 29,011 — 3,354 39,688 Disposals — (82 ) — (7 ) (89 ) Depreciation expense 861 4,061 — 978 5,900 Effect of exchange differences in foreign currency (113 ) (366 ) — (64 ) (543 ) Balance as of December 31, 2020 8,071 32,624 — 4,261 44,956 Disposals (70 ) (91 ) — (16 ) (177 ) Depreciation expense 871 4,653 — 548 6,072 Effect of exchange differences in foreign currency (328 ) (3,743 ) — (472 ) (4,543 ) Reclassifications and others (907 ) (587 ) — (798 ) (2,292 ) Balance as of December 31, 2021 7,637 32,856 — 3,523 44,016 As of December 31, 2020 Net book value 18,748 37,040 9,330 5,217 70,335 As of December 31, 2021 Net book value 22,682 38,810 10,641 505 72,638 1 Other’ includes computer equipment and other office furniture and equipment. As of December 31, 2021, depreciation expense was recognized as follows: $4,382 within cost of goods sold (2020: $3,661), for manufacturing costs, and $1,690 (2020: $2,239) within administrative expense. The Group pledged $83,432 (2020: $125,058) of freehold land and buildings for collateral for its financial obligations. Financial Commitments As of year-end 2021, the Group has commitments to acquire capital expenditures for $3,585 (2020: $4,832). Asset Acquisition of a Pharmaceutical Production Facility On November 5, 2021, Procaps Group entered into an asset purchase agreement to acquire an 86,000 sq. ft. pharmaceutical production facility. The purchase price allocated to property, plant and equipment based on the estimated fair value of the assets acquired at the date of acquisition was $1,487. On the Closing Date, December 31, 2021, Procaps paid the amount corresponding to the 50% of the Purchase Price and the remaining 50% will be paid at December 31, 2023. Please refer to Note 26.2. Asset acquisition - Pharmaceutical production facility.

Leases

Leases	12 Months Ended
	Dec. 31, 2021
Disclosure of leases [text block] [Abstract]
Leases	Note 15. Leases The Group has leases of office and warehouse buildings, land, vehicles, machinery and computer hardware. Rental contracts are for fixed terms varying between one and seven years. Information about leases for which the Group is a lessee is presented below. Right-of-use assets Reconciliation of asset balances: Land and Equipment Vehicles Computers Total Balance as of January 1, 2020 30,874 6,609 79 734 38,296 Addition to right-of-use asset 8,543 1,415 (12 ) 1,076 11,022 Depreciation (3,345 ) (744 ) (34 ) (475 ) (4,598 ) Effect of changes in foreign exchange rates (1,186 ) (305 ) (1 ) (33 ) (1,525 ) Balance as of December 31, 2020 34,886 6,975 32 1,302 43,195 Addition to right-of-use asset 6,573 709 — — 7,282 Depreciation (3,311 ) (463 ) — (449 ) (4,223 ) Derecognition of contracts (126 ) (58 ) — (86 ) (270 ) Reclassifications and others 559 (1,155 ) (32 ) — (628 ) Effect of changes in foreign exchange rates (4,188 ) (932 ) — (69 ) (5,189 ) Balance as of December 31, 2021 34,393 5,076 — 698 40,167 As of December 31, 2021, depreciation expense was recognized as follows: $3,633 (2020: $3,784) within administrative costs and $590 (2020: $814) within cost of goods sold, related to plant leases. Due to the pharmaceutical production facility that was purchased from Strides Pharma, Inc., a U.S. subsidiary of the Indian-based pharmaceutical corporation, the Strides Group, the Group assumed some rights of use that were part of the acquisition transaction for an amount of $4,533. Lease Liabilities The Group’s lease liabilities are guaranteed by the lessor’s title to the leased assets. As of December 31, 2021 and 2020, the Group maintains the following opened balances: 2021 2020 Non-current 21,894 26,537 Current $ 9,853 10,262 Total $ 31,747 $ 36,799 The remaining contractual maturity and repayment periods of the Group’s leases liabilities are exhibited in Note 27. Financial instruments Carrying amounts of lease liabilities are included in Borrowings’ balance, refer to Note 19. Borrowings. Due to the pharmaceutical production facility that was purchased from Strides Pharma, Inc., a U.S. subsidiary of the Indian-based pharmaceutical corporation, the Strides Group, the Group assumed all obligations and liabilities undertaken as sublessee under the Sublease Agreement, that is part of the acquisition transaction with a pending balance o $4,533 Amounts recognized in the Consolidated Statement of Profit or Loss For the year ended 2021 2020 Interest on lease liabilities 720 601 Expense relating to low value assets 123 668 Expense relating to short term leases 1,217 828 Amounts recognized in Consolidated Statements of Cash Flows The total cash outflow for leases amounts to $8,854 (2020: $5,733). The principal amount of the lease liabilities and estimated interest payments contractual maturity and repayment periods are included in Note 27. Financial instruments.

Investment in joint ventures

Investment in joint ventures	12 Months Ended
	Dec. 31, 2021
Disclosure of joint ventures [text block] [Abstract]
Investment in joint ventures	Note 16. Investment in joint ventures Name of joint venture Principal activity Place of Proportion of ownership interest and As of December 31, As of December 31, Promedical S.A. Marketing and pharmaceuticals Santa Cruz de la Sierra, Bolivia 50 % 50 % Promedical S.A. is accounted for using the equity method in these consolidated financial statements. Pursuant to a shareholder agreement, the Company has the right to cast 50% of the votes at shareholder meetings of Promedical S.A. The financial year end dates of Promedical S.A. are December 31, 2019, December 31, 2020 and December 31, 2021. For the purposes of applying the equity method of accounting, the financial statements of Promedical S.A. for the years ended December 31, 2021, 2020 and 2019 have been used. The other summary information that precedes the reconciliation to the Company’s carrying amount represents amounts included in the IFRS financial statements of the joint venture, not the entity’s share of these amounts, although they are adjusted to reflect fair value adjustments upon acquisition or accounting policy alignments. Summarized financial information of Promedical S.A is set out below. The summarized financial information below represents amounts in the Promedical S.A’s financial statements prepared in accordance with IFRS Standards, adjusted by the Company for equity accounting purposes. As of As of Current assets 10,324 11,672 Non-current assets 3,136 2,551 Current liabilities 6,231 5,899 Non-current liabilities 795 1,890 Equity 6,434 6,434 Revenue 23,704 19,428 Profit/(loss) for the year 1,423 1,612 Total comprehensive income 1,423 1,612 As of As of Net assets of Promedical S.A. 6,434 6,434 Proportion of the Company’s ownership interest in Promedical S.A. 3,217 3,217 Other adjustments (774 ) (757 ) Carrying amount of the Company’s interest in Promedical S.A. 2,443 2,460

Inventories, Net

Inventories, Net	12 Months Ended
	Dec. 31, 2021
Disclosure of inventories [text block] [Abstract]
Inventories, net	Note 17. Inventories, net 2021 2020 Raw materials and supplies $ 38,024 $ 30,198 Products in process 6,240 5,960 Finished products and merchandise 31,791 27,886 Inventory in transit 9,645 5,374 Subtotal 85,700 69,418 Less: Provision (6,270 ) (5,134 ) Total $ 79,430 $ 64,284 Inventories recognized as an expense during the year ended December 31, 2021 amounted to $174,029 (2020: $140,153). These were included in cost of goods sold. Inventories used as samples amounted to $3,867 (2020: $4,062) were recognized as marketing expenses. Write-downs of inventories to net realizable value and obsolescence adjustments amounted to $5,391 (2020: $1,616), were recognized as a provision expense during the year ended December 31, 2021.

Trade and other receivables, ne

Trade and other receivables, net	12 Months Ended
	Dec. 31, 2021
Disclosure of trade and other receivables [text block] [Abstract]
Trade and other receivables, net	Note 18. Trade and other receivables, net For the year ended 2021 2020 Trade receivables, net of discounts 1 $ 111,071 $ 95,819 Impairment of trade receivables (8,755 ) (9,573 ) Other receivables 15,132 10,247 Trade receivables, net of discounts and impairment $ 117,449 $ 96,493 1 Discount and return provision amounts to $7,345 (2020: $3,878). Refer to Note 27. Financial instruments for the Group’s disclosures on credit risk management and expected credit losses. The Group has entered into factoring arrangements to sell certain trade receivables to third parties under recourse programs, retaining all risk and rewards incidental to the trade receivables, so no derecognition of the financial assets has been performed. Refer to Note 19.

Borrowings

Borrowings	12 Months Ended
	Dec. 31, 2021
Disclosure of borrowings [text block] [Abstract]
Borrowings	Note 19. Borrowings 2020 2019 2021 Restated Restated Unsecured borrowings at amortized cost Syndicated term loan (1) $ 46,505 $ 81,906 $ 88,781 Other term loan (2) 51,593 85,645 75,008 Lease liabilities (3) 31,747 36,799 29,794 Factoring obligations (4) 10,609 9,993 11,927 Put option agreement (5) — 239,273 211,880 Bank overdrafts (6) 55 902 3,047 Notes (7) 112,857 — — Total Interest bearing liabilities $ 253,366 $ 454,518 $ 420,437 Current 74,646 114,780 99,975 Non- Current $ 178,720 339,738 320,462 1. Syndicated term loan Currency Range of Maturity 2021 2020 2019 Syndicated term loan COP IBR+ 5.3% (Variable) 2025 $ 39,521 51,970 $ 57,492 Syndicated term loan USD Libor+ 4.8% (Variable) 2025 7,850 31,150 $ 32,900 Amortized cost COP N/A 2025 (866 ) (1,214 ) (1,611 ) Total Syndicated term loan 46,505 81,906 $ 88,781 On November 20, 2018, Procaps S.A. signed a syndicated loan agreement with the following banks: Portion in Colombian pesos (COP) - Davivienda and Bancolombia; US dollar portion (USD) - Banco de Credito del Peru, Bancolombia Panama and Banco Sabadell. The total value of the syndicated loan amounts to $200,434 million COP (portion in COP) and $35 million USD (portion in USD), Fiduciaria Bancolombia acts as the agent of the loan. C.I. Procaps S.A., Procaps S.A. de C.V (previously Laboratorios Lopez S.A. de C.V.), Biokemical S.A., Pharmarketing S.A. (Panama), Pharmarketing Salvador S.A. de C.V., Pharmarketing S.A. (Guatemala S.A.), C.D.I. Salvador S.A. de C.V., C.D.I. Nicaragua S.A., C.D.I. Guatemala S.A., Pharmarketing Dominicana SRL, and Pharmarketing Costa Rica S.A., act as co-debtors, while Pharmayect S.A., Inversiones Crynssen S.A.S., Inversiones Ganeden S.A.S., Inversiones Henia S.A.S., Inversiones Jades S.A.S., and Industrias Kadima S.A.S., as guarantors. The resources obtained were used for advance payment and/or novation of some obligations to be refinanced. The conditions of the loan had a term of 5 years for installment payments and the interest rates agreed are as follows: IBR + 5.30% for the portion in COP and Libor + 4.80% for the USD portion. The loans received by Banco de Crédito del Peru and Banco Sabadell were precanceled during the month of November 2021, due to a new agreement with and improvement in terms and conditions with Prudential Senior Notes. Main covenants required by the loan contract: Financial commitments ● Indebtedness Indicator (Indebtedness/EBITDA) as of June 30 and December 30 of each year, during the loan term, must be less than or equal to 3.5 times. If the indicator is greater than 3.0 and less than 3.5, it proceeds to the extent that this value is originated by causes other than additional debt and the justification of the increase must be presented to the agent. ● Short-term leverage ratio < 1.0 on the last day of each semester. ● EBITDA ratio / financial expenses = or > 3.0 on the last day of each semester. Other commitments ● The syndicated credit agreement establishes that each of the jointly obligated parties, unless they have the express, prior and written authorization of the Agent, will refrain from incurring any type of financial debt when the proforma indebtedness indicator, once acquired the additional financial debt, is greater than 3.0 times and maintaining any type of financial debt when the pro forma indebtedness indicator, once the national debt is acquired, is greater than 3.5 times. ● Each of the joint obligated parties, except with express, prior and written authorization of the Agent to do otherwise, will refrain from contracting finance and/or operating lease obligations with purchase option with a joint balance payable greater than $85,000,000 (Eighty-Five Billion Pesos, local currency) or its equivalent in another currency. For purposes of clarity, the reclassification of obligations as financial lease obligations by application of the Accounting Standards will not consume the balance set forth herein and may not be renewed. ● The payment of dividends is restricted to anyone other than the jointly obligated parties. The syndicated loan agreement establishes that, in the event of breach of covenants by the debtor, the lenders shall be entitled to declare early maturity of the debts. Management continuously monitors the observation of these obligations, and was in compliance as of the date of these financial statements. 2. Other term loan Currency Range of Interest Maturity Year 2021 2020 2019 Other term loan COP IBR+ 2.25%-5.0% (Variable) 2022-2024 9,442 12,205 9,939 COP DTF + 6.74% 2022 3,154 6,161 6,904 COP 24% (Fixed) 2021 — 1,296 12 SOL 5.00% - 10.01% (Fixed) 2021-2024 5,953 7,499 4,392 REAIS 9.84% - 13.08% (Fixed) 2021-2024 1,762 7,436 1,633 USD Libor + 4.49% 2022 739 — — USD Libor + 2.99% / 6.5% - 2022-2024 16,145 40,808 43,827 COP 10.00% -30.00% 2022 14,398 10,240 8,301 Total Other term loans 51,593 85,645 75,008 3. Lease liabilities Currency Range of Interest Maturity 2021 2020 2019 Lease liabilities COP DTF +5.18% - DTF 2030 10,334 15,945 15,164 COP DTF+ 4.54% + DTF 8.5%T.A. + DTF+10.42% 2025 6,662 7,524 6,930 COP DTF+17% / (DTF+13.72%) 2022 — 676 706 USD 14.70% E.A. 2023 — 740 — USD 9.28% T.A. 2022 — 86 247 USD 9.75% N.M. 2021 — 103 — COP 8.29% - 21.48% E.A. 2027 14,689 11,591 6,422 Reales 1.68% (Fixed) 2022 62 134 325 Total Lease liabilities 31,747 36,799 29,794 4. Factoring obligations Currency Range of Interest Maturity 2021 2020 2019 Portfolio factoring COP DTF+8% / 24.6% 2022 1,383 8,074 4,731 Reales 12% (Fixed) 2021 — — 5,679 COP DTF+8% / 24.6% (Fixed) 2022 9,226 1,919 1,517 Total Factoring 10,609 9,993 11,927 5. Put option agreement Currency Range of Interest Maturity 2021 2020 2019 IFC USD 12 % 2028 — 127,821 112,263 Hoche USD 12 % 2028 — 111,452 99,617 Total Put option — 239,273 211,880 Put Option with International Finance Corporation (“IFC”) On September 1, 2017, the Company and IFC entered into various agreements, including an agreement that granted the right to IFC to put back all or some of the 410,755 ordinary shares it holds in the Company, during a three year period after the eight anniversary of such agreement, in exchange for cash. The amount payable by the Company, if IFC exercised its option, would have equal to an amount that generates a 12% internal rate of return over IFC’s subscription. The Company classified and measured the obligation to buy back its ordinary shares from IFC at amortized cost and recognized finance expense using the effective interest rate method, including transaction costs, until the effectiveness of the Transaction. In the event of a breach of obligations prior to the first anniversary of the agreement, IFC had the right to put back its shares as well in exchange for cash where the cash amount would have been based on a 15% internal rate of return. The Company has not been in breach of such obligations during 2021 and 2020. The obligations of the Company were guaranteed through a 37% pledge of Company ordinary shares to IFC. Put Option with Hoche Partners Pharma Holding S.A. (“Hoche”) Similar to IFC, the Company and Hoche entered into various agreements, including an agreement on December 23, 2019 that granted the right to Hoche to put back all or some of the 492,320 ordinary shares it holds in the Company, during a three year period after the eight anniversary after September 1, 2017, in exchange for cash. The amount payable by the Company, if Hoche exercised its option, would have been equal to an amount that generates a 12% internal rate of return over Hoche’s subscription. The Company classified and measured the obligation to buy back its ordinary shares from Hoche at amortized cost and recognized finance expense using the effective interest rate method, until the effectiveness of the Transaction. The following comprised the covenants established for the put option: ● Do not incur any financial debt to any shareholder of the Company or any of its Subsidiaries in excess of US$ 3,000,000, beyond the existing shareholder loans set forth in the consolidated audited financial statements of the Company; provided, however, that any Financial Debt to any such shareholder of the Company or any of its Subsidiaries below US$ 3,000,000, shall not require IFC/Hoche consent so long as such Financial Debt is on market terms or terms more favorable for the Company or any Subsidiaries; ● Do not enter into any obligation outside of the normal course of business with a consideration in excess of 4% of the total assets of the Company as reported in the last available consolidated audit financial statements of the Company for the most recent Financial Year. ● Do not enter into any commitments for acquisitions of other entities (whether by the acquisition of shares, assets, or otherwise) where the aggregate consideration of all such commitments in any financial year is in excess of 4% of the total assets of the Company as reported in the latest available consolidated audited financial statements of the Company for the most recent Financial Year ● Do not incur any financial debt if the Debt-to-Ebitda Ratio of the Company would exceed 3,5x, provided, that for so long as 2 independent directors have not been appointed to the board, the financial entity´s consent shall be required prior to the Company or any Subsidiary incurring additional Financial Debt if the Debt-Ebitda Ratio would exceed 3,25x. Management continuously monitored the observation of these obligations, and was in compliance as of the date of these financial statements. On the effectiveness of the Transaction, September 29, 2021, the put option agreements were terminated in exchange for new equity instruments in Procaps Group SA. The termination of the put option resulted in the associated liabilities to be reclassified into Company’s equity. A true-up of $35,920 has been recognized in September 2021 to reflect the commencement date, re-negotiated during current year, for the annual return with Hoche. 6. Bank overdraft Currency Range of Interest Maturity 2021 2020 2019 Overdrafts and credit cards COP 19.68% - 32% E.A. 2022 55 902 3,047 7. Notes Currency Range of Interest Maturity Year 2021 2020 2019 The Prudential Insurance Company of America USD 4.75% (Fixed) 2031 $ 58,906 — — Prudential Annuities Life Assurance Corporation USD 4.75% (Fixed) 2031 29,423 — — Healthspring Life & Health Insurance Company, Inc USD 4.75% (Fixed) 2031 18,007 — — CIGNA Health and Life Insurance Company USD 4.75% (Fixed) 2031 6,521 — — Total Senior Notes 112,857 — — On November 12, 2021, the Company closed the private placement offering of $115 million aggregate principal amount of 4.75% guaranteed senior notes (the “Senior Notes”) issued by Procaps, S.A., a subsidiary of the Company, due November 12, 2031, pursuant to a note purchase agreement entered into on November 5, 2021 with The Prudential Insurance Company of America, Prudential Annuities Life Assurance Corporation, Healthspring Life & Health Insurance Company, Inc. and Cigna Health and Life Insurance Company Inc. The Senior Notes are a senior unsecured obligations of Procaps, S.A. and unconditionally guaranteed by Procaps Group S.A. and the following subsidiaries of the Company: C.I. Procaps, S.A., Diabetrics Healthcare S.A.S., Pharmayect S.A., Procaps, S.A. de C.V., Biokemical, S.A. de C.V., Colbras Indústria e Comércio Ltda., and Sofgen Pharmaceuticals LLC. Debt issuance costs related to the Senior Notes of $2,142, comprised of commissions payable to the initial purchasers of $1,390 and attorneys’ costs of $752, were allocated to the liability of the Notes based on their relative values. Issuance incremental costs are part of the effective rate and amortized to interest expense using the effective interest method over the contractual term. The Senior Notes require Procaps, S.A., the Company and the other obligors thereunder to comply with the following financial ratios: ● A consolidated total debt of Procaps, S.A., the Company and the other obligors thereunder to consolidated EBITDA for the last twelve months of 3.50:1.00 or less, measured at certain dates of determination and; ● An EBITDA interest coverage ratio (calculated as the consolidated EBITDA for the last twelve months of Procaps, S.A., the Company and the other obligors thereunder divided by the consolidated interest expenses of Procaps, S.A., the Company and the other obligors thereunder) in excess of, or equal to, 3.00:1.00, calculated at certain dates of determination. As of December 31, 2021, the Company was in compliance with all of the financial covenants related to the Senior Notes, and management expects that the Company will be able to maintain compliance with the financial covenants in the future. The Senior Notes are classified as long-term debt on the Company’s consolidated balance sheets and will be until such Senior Notes are within one year of maturity. Reconciliation of liabilities arising from financing activities January 1, Payment cash flows New 1 Other 2 December 31, Syndicated term loan 81,906 (28,239 ) — (7,162 ) 46,505 Other term loan 85,645 (224,380 ) 193,120 (2,792 ) 51,593 Lease liabilities 36,799 (8,854 ) 7,283 (3,481 ) 31,747 Factoring obligations 9,993 (18,779 ) 22,956 (3,561 ) 10,609 Put option agreement 239,273 — — (239,273 ) — Bank overdrafts 902 (903 ) — 56 55 Senior Notes — — 112,857 — 112,857 Total liabilities from financing activities 454,518 (281,155 ) 336,216 (256,213 ) 253,366 January 1, Payment New 1 Other 2 December 31, Syndicated term loan 88,781 (4,670 ) — (2,205 ) 81,906 Other term loan 75,008 (76,942 ) 94,122 (6,543 ) 85,645 Lease liabilities 29,794 (5,733 ) 11,022 1,716 36,799 Factoring obligations 11,927 (38,953 ) 35,040 1,979 9,993 Put option agreement 211,880 — — 27,393 239,273 Bank overdrafts 3,047 (21 ) — (2,124 ) 902 Total liabilities from financing activities 420,437 (126,319 ) 140,184 20,216 454,518 January 1, Payment New Other December 31, Syndicated term loan 94,919 (5,770 ) — 368 88,781 Other term loan 66,773 (75,235 ) 80,859 2,611 75,008 Lease liabilities 30,843 (4,070 ) 5,335 (2,314 ) 29,794 Factoring obligations 12,807 (37,412 ) 38,019 (1,487 ) 11,927 Put option agreement 98,599 — 99,616 13,665 211,880 Bank overdrafts 1,236 — — 1,811 3,047 Total liabilities from financing activities 305,177 (122,487 ) 223,829 13,918 420,437 1 New liabilities include non-cash activities for invoices from suppliers financed via reverse factoring $48,138 (2020: $22,426, 2019: $22,486) and acquisition of right-of-use assets $7,283 (2020: $11,022, 2019: $5,335). For the year ended December 31, 2019, it also included the issuance of put option agreements for $99,616. 2 Other changes include exchange differences and in 2021 the termination of the put option agreements in exchange for new equity instruments in Procaps Group S.A. Refer to Note 19.5. Put option agreement

Deferred tax

Deferred tax	12 Months Ended
	Dec. 31, 2021
Disclosure of deferred taxes [text block] [Abstract]
Deferred tax	Note 20. Deferred tax The deferred tax assets and liabilities by type of temporary difference are as follows: As of December 31 2021 2020 Net deferred tax asset (liability) Trade and other receivables (1,357 ) (3,301 ) Inventories 3,142 1,735 Property, plant and equipment (3,486 ) (6,817 ) Intangibles (875 ) (634 ) Borrowings and Trade and other payables 3,639 3,071 Provisions and Other liabilities 1,005 737 Others (1,071 ) 8,088 Total net deferred tax asset (liability) 997 2,879 As of December 31 2021 2020 Deferred Tax Asset 7,067 21,769 Deferred Tax Liability (6,070 ) (18,890 ) Net Deferred Tax Asset (Liability) 997 2,879 As of December 31 2021 2020 2019 Balance as on January 1 2,879 8,556 7,396 Recognized in Profit and Loss (1,455 ) (3,805 ) 1,083 Recognized in Other Comprehensive Income 1 (58 ) 16 (43 ) Others 2 (369 ) (1,888 ) 120 Balance as of December 31 997 2,879 8,556 1 Deferred tax related to employee defined benefit plans. 2 Deferred tax related to the purchase price acquisition of intangible assets in Procaps S.A. de C.V. (previously Laboratorios Lopez S.A. de C.V.). The deferred tax assets are ordinary in character and comprised of temporary differences primarily related to the impairment of trade receivable for financial reporting purposes, differences in the financial statement carrying amount and tax basis of inventories, property, plant and equipment, intangibles, borrowings, provisions, and others. As of December 31, 2021 and 2020, the deferred tax asset balance does not comprise unused tax losses or unused tax credits. Given the expected near-term reversal of the deductible temporary differences giving rise to deferred tax assets, it is probable that future taxable profit will be available as a result of reversing taxable temporary differences to realize the tax benefit of the deferred tax assets either in the year of reversal or within the twelve year carryforward period permitted by Colombian income tax law. There was a deferred tax asset that would have been recognized for $1,135 as of December 31, 2021 for temporary differences of $3,242 related to subsidiary Rymco Medical’s fiscal losses. However, this asset was not recognized because the Group’s management considers that there is no certainty of future taxable income available for compensation. Likewise, no deferred tax liabilities have been recognized from those entities in which the Group has control and in the foreseeable future it is not expected that the same will be carried out.

Trade and Other Payables, Net

Trade and Other Payables, Net	12 Months Ended
	Dec. 31, 2021
Disclosure of trade and other payables [text block] [Abstract]
Trade and other payables, net	Note 21. Trade and other payables, net As of December 31 2020 2019 2021 Restated Restated Trade payables $ 70,167 $ 84,480 $ 94,207 Other payables Trade current accounts 3,259 4,430 4,277 Interest payable 1,870 2,236 1,525 Withholdings and payroll contributions 6,619 2,831 3,243 Others 3,466 139 1,356 Total other payables 15,214 9,636 10,401 Total accounts payable $ 85,381 $ 94,116 $ 104,608

Provisions and contingencies

Provisions and contingencies	12 Months Ended
	Dec. 31, 2021
Disclosure of other provisions, contingent liabilities and contingent assets [text block] [Abstract]
Provisions and contingencies	Note 22. Provisions and contingencies 2021 2020 2019 Contingencies Balance as of January 1 $ 1,829 $ 2,276 $ 2,379 Effect of changes in foreign exchange rates (209 ) (387 ) (77 ) Provisions made — 761 12 Provisions used (1,119 ) (821 ) (38 ) Balance as of December 31 $ 501 $ 1,829 $ 2,276 Provisions The Group recognizes provisions for contingencies that are probable of requiring an outflow of resources due to adverse effects. Such contingencies are disclosed with possible adverse effects for the entity, as follows: Legal provisions Softcaps legal proceedings Rymco Medical legal proceeding Procaps legal proceedings Legal proceedings of Industrias Kadima, Inversiones Jades, Inversiones Ganeden, Inversiones Crynseen and Colmed Tax provisions Transfer pricing Procaps Contingencies The general direction of taxes of El Salvador, has tried to deny reductions applied to sales of the taxable year, indicating they are not documented as regulated by the DGII, the proposed sanction amounts to $954. However, the Group’s external advisor indicates that it is not probable for this claim to proceed, therefore, there is no provision for the effect of this contingency.

Shareholder's equity

Shareholder's equity	12 Months Ended
	Dec. 31, 2021
Disclosure of share capital, reserves and other equity interest [text block] [Abstract]
Shareholder's equity	Note 23. Shareholder’s equity Note 23.1. Authorized and issued shares The authorized shareholder’s equity is represented by 800,000,000 (2020: 2,001,071, 2019: 2,493,391) ordinary shares with a par value of one cent each, of which 112,824,184 (2020: 2,001,071, 2019: 2,493,391) are issued and outstanding as of December 31, 2021. Ordinary shares grant one vote per share and one right to dividends. Also, 4,000,000 Redeemable A Shares are issued and held in treasury by the Company and 4,500,000 Redeemable B Shares are issued and held in treasury by the Company. Reconciliation of share capital and share premium Ordinary authorized and issued shares Number of Share capital amount Share premium As of January 1, 2019 pre-restructuring 2,493,391 2,493 120,151 Issuance of put option with Hoche (492,320 ) (492 ) (65,739 ) Subtotal 2,001,071 2,001 54,412 Capital restructuring of Crynssen (1:33.4448 exchange ratio) (b) 64,924,413 (1,332 ) 1,332 As of December 31, 2019 restructured 66,925,484 669 55,744 — — — As of January 1, 2020 pre-restructuring 2,001,071 2,001 54,412 Capital restructuring of Crynssen (1:33.4448 exchange ratio) (b) 64,924,413 (1,332 ) 1,332 As of December 31, 2020 restructured 66,925,484 669 55,744 — — — As of January 1, 2021 pre-restructuring 2,001,071 2,001 54,412 Termination of put option agreements (a) 903,075 903 297,796 Subtotal 2,904,146 2,904 352,208 Capital restructuring of Crynssen (1:33.4448 exchange ratio) (b) 94,224,544 (1,933 ) 1,933 Subtotal - restructured 97,128,690 971 354,141 Acquisition of Union Acquisition Corp. II (c) 20,195,494 202 174,738 Escrowed shares (d) (11,714,612 ) (117 ) (106,247 ) Redemption of redeemable shares (e) (4,500,000 ) (45 ) (44,955 ) As of December 31, 2021 101,109,572 1,011 377,677 a. On the effectiveness of the Transaction, September 29, 2021, the put option agreements were terminated in exchange for new equity instruments in Procaps Group SA. b. On completion of the Transaction, each of the OpCo Shareholders, contributed its respective OpCo Ordinary Shares to Holdco in exchange for Holdco Ordinary Shares, and, in the case of IFC for Holdco Ordinary Shares and 4,500,000 Holdco Redeemable B Shares, subscribed for by each OpCo Shareholder. The OpCo Shareholders were issued 97,128,690 new shares in the Company (92,628,689 Holdco Ordinary Shares and 4,500,000 Holdco Redeemable B Shares) in exchange of the 2,904,146 outstanding OpCO ordinary Shares. The resultant share exchange ratio being 33.4448. c. SPAC Ordinary Shares outstanding (including those held by the PIPE Investors and Union Group International Holdings Limited and Union Acquisition Associates II, LLC (the “SPAC Sponsors”) were exchanged with Holdco for Holdco Ordinary Shares pursuant to a share capital increase of Holdco. New Shares were issued for an aggregate subscription price of $201,955, corresponding to a total aggregate amount of $202 to be allocated to the share capital of the Company. Aggregate subscription price is as follows: Number of Aggregate Public shares 5,895,494 58,955 Founder shares 4,300,000 43,000 PIPE Shares 10,000,000 100,000 20,195,494 201,955 Cost-basis of the exchange reflects: Share SPAC net assets 131,086 Transactions costs (30,063 ) IFRS 2 Share-based payment expense 73,917 Share Capital issued (202 ) 174,738 d . 1,250,000 Holdco Ordinary Shares issued to the SPAC Sponsors and 10,464,612 Holdco Ordinary Shares issued to certain Opco Shareholders in connection with the Transaction are subject to an escrow arrangement that is applicable to both SPAC Sponsors and to such OpCo Shareholders. On September 29, 2021, considering that the condition to deliver a fixed number of shares for a consideration that is settled in One’s own equity instruments is not met for the 11,714,612 Holdco Ordinary Shares issued to the SPAC Sponsors and certain Opco Shareholders, the escrow shares were classified as a financial liability with changes in fair value through profit and loss. As of December 31, 2021 shares to be delivered are presented at fair value as non-current liabilities for the amount of $101,859, representing a decrease of $4,506 recognized in Finance expenses, net. e. Immediately following the Exchange, the Company redeemed 4,500,000 Holdco Redeemable B from IFC for a total purchase price of $45,000 in accordance with that certain share redemption agreement entered into by and between the Company and IFC on March 31, 2021, and subsequently amended on September 29, 2021. Refer to Note 26.1. Reverse reorganization for further information related to the Transaction. Note 23.2. Reserves As of December 31 2021 2020 2019 Legal 1 $ 4,892 $ 4,892 $ 4,892 Working Capital 2 37,857 35,005 23,789 $ 42,749 $ 39,897 $ 28,681 2021 2020 2019 Balance as of January 1 $ 39,897 $ 28,681 $ 28,322 Increase in legal reserves — — 31 Increase in working capital reserves 2,852 11,216 328 Balance as of December 31 $ 42,749 $ 39,897 $ 28,681 1 Legal Reserve - 2 Reserves for working capital –

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2021
Disclosure of earnings per share [text block] [Abstract]
Earnings Per Share	Note 24. Earnings Per Share The loss per share is calculated by dividing the profit or loss for the period by the weighted average number of ordinary shares outstanding in the year. The profit (loss) per fully diluted share shall be calculated based on the result for the year divided by the weighted average number of fully diluted shares. The effects of potentially dilutive ordinary shares are not included in the calculation of diluted EPS because their effect would be anti-dilutive. 2021 2020 2019 Net loss of the year (100,863 ) (10,447 ) (17,013 ) Number of ordinary shares issued at December 31* 101,110 97,129 97,129 Weighted average basic number of ordinary shares 98,143 97,129 97,129 Assumed exercise of share equivalents — — — Weighted average diluted number of shares 98,143 97,129 97,129 Basic and diluted loss per share in the year (1.03 ) (0.11 ) (0.18 ) * Includes 903,075 shares held under put option before the transaction as such ordinary shareholders were entitled to receive dividends.

Warrant Liabilities

Warrant Liabilities	12 Months Ended
	Dec. 31, 2021
Disclosure Of Warrant Liability Explanatory [Abstract]
Warrant Liability	Note 25. Warrant Liabilities As of December 31 2021 2020 2019 Public warrants $ 16,000 $ — $ — Private warrants 1 7,112 — — $ 23,112 $ — $ — 1 Private warrants include 2,875,000 held by the former SPAC sponsors deposited in an escrow account. Note 25.1. Public warrants 2021 2020 2019 As of January 1 $ — $ — $ — Acquired public warrants $ 21,600 $ — $ — Warrants exercised $ — $ — $ — Fair value remeasurement $ (5,600 ) $ — $ — As of December 31 $ 16,000 $ — $ — Public warrants were issued by the SPAC to certain shareholders whereas prior to the Transaction such public warrants (together with the private warrants issued to the SPAC sponsors) were exchanged, on a one per one basis, for warrants in the Group’s ordinary shares. The public warrants have the following terms: ● Each whole warrant entitles the holder to purchase one ordinary share at an exercise price of $11.50 ● The warrant is exercisable post Transaction and expires on the earlier of: – 5 years after the completion of the Transaction, i.e. September 29, 2026 – the Redemption Date, or – the liquidation of the Group. ● The Group may redeem the outstanding warrants, in whole and not in part, at a price of $0.01 per warrant at any time while the warrants are exercisable upon a minimum of 30 days prior written notice of redemption: – if, and only if, the last sales price of the common stock equals or exceeds $18.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalization and the like) on each of twenty (20) trading days within any thirty (30) trading day period ending on the third trading day prior to the date on which notice of redemption is given. – however, that if and when the Public Warrants become redeemable by the Group, the Group may not exercise such redemption right if the issuance of Ordinary Shares upon exercise of the Public Warrants is not exempt from registration or qualification under applicable state blue sky laws or the Group is unable to effect such registration or qualification. ● The Public Warrants may be exercised, for cash (or on a “cashless basis”) at any time after notice of redemption shall have been given by the Company and prior to the Redemption Date. The Public Warrants are redeemable on the occurrence of change in control (merger, re-organization, tender offer, exchange), and the Group does not have an unconditional right to avoid delivering cash, the Public Warrants meet the criteria for classification as a financial liability. In addition, Warrants may be settled in a variable number of shares in case of cashless basis of exercise. Therefore, the Public Warrants meet the criteria for classification as financial liability. Additionally, Public Warrants also meet the definition of a derivative, which may be settled other than by the exchange of a fixed amount of cash for a fixed number of the entity’s shares. Therefore, Public Warrants are derivatives that are classified as financial liability. The public warrants were traded on Nasdaq and the closing trade price on 29 September, 2021 was used to measure their fair value. On 30 September, 2021, the warrants had a fair value of $21,600 (20,000,000 warrants valued at $1.08 each), which is included as a Finance expense in the consolidated statement of profit or loss. Note 25.2. Private warrants 2021 2020 2019 As of January 1 $ — $ — $ — Acquired private warrants $ 7,363 $ — $ — Fair value remeasurement $ (251 ) $ — $ — As of December 31 $ 7,112 $ — $ — Simultaneously with the closing of the initial public offering of the SPAC, the SPAC consummated the sale of 6,250,000 warrants (the “SPAC Private Placement Warrants”) at a price of $1.00 per warrant in a private placement to the SPAC Sponsors, generating gross proceeds of $6,250. Pursuant to the Business Combination Agreement, the Company entered into an Assignment, Assumption and Amendment Agreement with SPAC and the Warrant Agent to amend and assume SPAC’s obligations under the existing Warrant Agreement and to give effect to the conversion of SPAC public warrants and SPAC Private Placement Warrants to Holdco public warrants and Holdco private warrants (the “Private Warrants”), respectively. Additionally, immediately prior to the consummation of the Transaction, the SPAC Sponsors forfeited 2,875,000 SPAC Private Placement Warrants and, in connection with consummation of the Transaction, placed 2,875,000 Private Warrants in escrow. The Private Warrants have the following terms: ● Each warrant entitles the holder to purchase one ordinary share at an exercise price of $11.50 per share. Only whole warrants are exercisable. ● Exercisable post Transaction and expires on the earlier of: – 5 years after the completion of the Transaction, – the Redemption Date, or – the liquidation of the Group. ● Redemption for cash shall not apply. The Private Warrants are redeemable on the occurrence of change in control (merger, re-organization, tender offer, exchange), and the Group does not have an unconditional right to avoid delivering cash, the Private Warrants meet the criteria for classification as a financial liability. In addition, Warrants may be settled in a variable number of shares in case of cashless basis of exercise. Therefore, the Private Warrants meet the criteria for classification as financial liability. Additionally, Private Warrants are classified as derivatives and financial liabilities, these shall be initially measured at fair value, with subsequent changes in fair value recognized in profit and loss. Refer to Note 9. Finance expenses, net. Warrants in escrow On March 31, 2021, concurrently with the execution of the Business Combination Agreement, the SPAC, the Company, OpCo, certain OpCo Shareholders and certain shareholders of the SPAC prior to the consummation of the Transaction (including the SPAC Sponsors), entered into the Transaction Support Agreement, pursuant to which the SPAC Sponsors agreed to forfeit 2,875,000 of their Private Placement Warrants immediately prior to the Merger and to subject certain of their Holdco Ordinary Shares and Private Warrants to certain restrictions by depositing such securities in an escrow account Warrants in Escrow shall be treated as follows: ● First Level Release Target: The escrow agent shall hold 1,437,500 SPAC Sponsor Private Warrants (the “First Level Sponsor Escrow Warrants”) in escrow until the earlier to occur of (a) the date on which the closing price of the Holdco Ordinary Shares on the Nasdaq Stock Market equals or exceeds $12.50 per Holdco Ordinary Share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-day trading period, or (b) the date that is the fifth (5th) anniversary of the closing of the Transaction (the “Five Year Expiration Date”). ● Second Level Release Target: The escrow agent shall hold 1,437,500 SPAC Sponsor Private Warrants (the “Second Level Sponsor Escrow Warrants”) in escrow until the earlier to occur of (a) the date on which the closing price of the Holdco Ordinary Shares on the Nasdaq Stock Market equals or exceeds $13.00 per Holdco Ordinary Share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-day trading period, or (b) the Five-Year Expiration Date. ● Automatic Release: if Group shall consummate a liquidation, merger, stock exchange or other similar transaction which results in all of the holders having the right to exchange their Holdco Ordinary Shares for cash, securities or other property, then the escrow agent shall (subject to customary escrow notification provisions) promptly release all the First Level Sponsor Escrow Warrants and Second Level Sponsor Escrow Warrants to the SPAC Sponsors ● Cancellation: On the Five Private Warrants issued by the Holdco which are deposited in escrow and are subject to cancellation if certain conditions are not met are recorded as contingent consideration and therefore initially measured at fair value. Further, since they are liability classified instruments, subsequent changes in fair value are recognized in profit and loss as a Finance expense. Refer to Note 9. Finance expenses, net.

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2021
Disclosure Of Asset Acquisition Explanatory [Abstract]
Acquisitions	Note 26. Acquisitions Note 26.1. Reverse reorganization As further outlined in Note 2.3, the Company underwent a reverse reorganization as a result of the Transaction. The amount of the net identifiable assets of $131,086 acquired on September 29, 2021, the date of Transaction, were as follows: (Amount in thousands) 2021 Cash held in trust $ 138,046 Cash and cash equivalents $ 100,000 Redemption liability $ (77,997 ) Warrants liability $ (28,963 ) Total SPAC identifiable net assets at fair value $ 131,086 As Procaps Group S.A. is considered to be the accounting acquirer and the merger between the Procaps Group S.A. and Union Acquisition Corp II (SPAC) would be accounted for as an asset acquisition under IFRS, as the SPAC is not considered a business. IFRS 2 would be applied for the accounting of the transaction if the value of equity interests issued is in excess of the assets received. After Redemption Step 1 - Deemed cost of shares issued Fair value of OpCo $ 926,287 Equity interest in Holdco issued to SPAC shareholders & PIPE investors 19 % Equity interest in Holdco of Selling shareholders 81 % Deemed costs of shares issued* $ 213,584 SPAC identifiable net assets at fair value $ 131,086 Deemed cost of shares issued $ 82,498 Step 2 - Dilutive impact of shares held in escrow Dilutive effect of 945,036 shares held in escrow at a weighted average fair value per share of $9.08 $ 8,581 Step 3 - IFRS 2 ‘listing expense’ $ 73,917 * The deem cost of the shares was estimated based on the fair value of the OpCo issued shares (legacy Crynssen Pharma Group Limited) prior to the merger with SPAC and Holdco. The IFRS 2 ‘listing expense’ per above, has been recognized in profit and loss within O ther As a result of the transaction, prepaid expenses of $4,602 have been recognized in Other current assets. Shares in an escrow Holdco Ordinary Shares in an escrow are subject to an arrangement that is applicable to 1,250,000 Holdco Ordinary Shares issued to the SPAC Sponsors and 10,464,612 Holdco Ordinary Shares issued to certain Opco Shareholders. Certain market conditions will be required to be met after the Transaction for these securities in escrow to be released to the eligible securities owners. If the market conditions wouldn’t be met within a defined time period (five years for warrants in escrow and ten years for Holdco Ordinary Shares in escrow), such securities in escrow would be forfeited. a) Sponsors’ Holdco Ordinary Shares in escrow b) Eligible Procaps Shareholders Holdco Ordinary Shares in escrow If the market conditions wouldn’t be met within a defined time period (ten years for ordinary shares in escrow), such securities in escrow would be forfeited. All dividends payable, whether in cash, stock or other non-cash property with respect to the Sponsor Escrowed Securities and the ECS Escrowed Securities while such securities are held in escrow will be delivered to the escrow agent to hold and distribute in the same manner as the Sponsor Escrowed Securities and the ECS Escrowed Securities held in escrow. If Holdco consummates a liquidation, merger, stock exchange or other similar transaction which results in all of its shareholders having the right to exchange their Holdco Ordinary Shares for cash, securities or other property, then all Sponsor Escrowed Securities and the ECS Escrowed Securities will be released to the SPAC Sponsors and those certain OpCo Shareholders. Any Sponsor Escrowed Securities and the ECS Escrowed Securities not released from escrow within ten years from the date of the closing of the Transaction will be released by the escrow agent to Holdco for cancellation. Shares which are held in escrow are subject to cancellation if certain conditions are not met are recorded as contingent consideration and therefore initially measured at fair value. Further, since they are liability classified instruments, subsequent changes in fair value are recognized in profit and loss within Finance expense Note 26.2. Asset acquisition - Pharmaceutical production facility On November 5, 2021, Procaps Group entered into an asset purchase agreement to acquire an 86,000 sq. ft. pharmaceutical production facility located in West Palm Beach, Florida with production capacity of approximately 1.8 billion capsules per year for its CDMO (integrated Contract and Manufacturing Organization) business unit. The pharmaceutical production facility was purchased from Strides Pharma, Inc., a U.S. subsidiary of the Indian-based pharmaceutical corporation, the Strides Group. The core assets of this acquisition includes several soft gelatin capsule (“Softgel”) encapsulation lines, new critical support systems, automated packaging line capabilities, as well as development facilities including pilot and scale up capabilities. Softgels are designed to deliver high precision dosage by achieving homogeneity of ingredients. The Softgel capsules are well recognized in the supplement, OTC, and the prescription market for improving patient adherence to the drug and therapy by facilitating swallowing due to the texture of its shell. The purchase price for the purchased assets is $1.6 million, and transaction costs of $213.6. On the Closing Date, December 31, 2021, Procaps will pay the amount corresponding to the 50% of the Purchase Price and the remaining 50% will be paid on December 31, 2023. The fair value of the identifiable assets acquired on December 31, 2021, the date of the Transaction, were of $1,813 The following table summarizes the final allocation of the purchase price based on the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition. (Amount in thousands) 2021 Property, Plant and Equipment $ 1,487 Inventories $ 133 Other receivables $ 193 Right of Use Assets $ 4,533 Lease Liabilities $ (4,533 ) Total $ 1,813

Financial Instruments

Financial Instruments	12 Months Ended
	Dec. 31, 2021
Disclosure of financial instruments [text block] [Abstract]
Financial instruments	Note 27. Financial instruments 27.1 Accounting classification and fair value Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When measuring fair value, the Group uses observable market data whenever possible. Fair values are categorized into different levels in a hierarchy based on the inputs used in the valuation techniques as follows: ● Level 1: inputs are unadjusted quoted prices in active markets for identical assets or liabilities. ● Level 2: inputs are observable either directly (e.g. as prices) or indirectly (e.g. derived from prices). ● Level 3: fair value measurements incorporate significant inputs that are based on unobservable market data. The following table shows the carrying amounts of financial assets and financial lia bilities. The amortized cost basis of the financial assets and liabilities not measured at fair value approximates their fair value. As of December 31, 2021 As of December 31, 2020 FVTPL 1 Amortized 2 FVTPL Amortized 2 Financial assets not measured at fair value Trade and other receivables, net — 117,449 — 96,493 Amounts owed by related parties — — — 2,562 Cash — 72,112 — 4,229 Other financial assets — 256 — 761 Total financial assets not measured at fair value — 189,817 — 104,045 Financial liabilities measured at fair value Warrant liabilities 23,112 — — — Shares held in escrow 101,859 — — — Total financial liabilities measured at fair value 124,971 — — — Financial liabilities not measured at fair value Borrowings — 253,365 — 442,359 Trade and other payables, net — 85,381 — 106,275 Amounts owed to related parties — 8,450 — 20,622 Total financial liabilities not measured at fair value — 347,196 — 569,256 1 The fair value is comprised of $16,000 level 1 and $108,971 level 3 as of December 31, 2021. 2 The fair value is similar to their amortized cost as of December 31, 2021 and 2020, respectively. 27.2 Measurement of fair values The following tables show the valuation techniques used in measuring Level 3 fair values for financial instruments in the statement of financial position, as well as the significant unobservable inputs used. Type Valuation Technique Significant Inter-relationship between Warrants The fair value of the Private Warrants is estimated using the Black-Scholes option pricing formula for European calls, since the underlying stock is not expected to pay dividends over the term of the Warrants. Volatility The estimated fair value would increase (decrease) if the expected volatility were higher (lower). Shares held in escrow The fair value of the shares to be delivered is estimated using Monte Carlo simulation in a risk-neutral framework assuming a Geometric Brownian Motion for the future stock price. Volatility The estimated fair value would increase (decrease) if the expected volatility were higher (lower). 27.3 Financial risk management The Group has exposure to the following risks arising from financial instruments: ● Credit risk ● Liquidity risk ● Market risk, including: currency and interest rate risk 27.3.1. Risk management framework The Group analyzes each of these risks individually as well as on a combined basis and defines strategies to manage the economic impact on the Group’s performance in line with its financial risk management policy. The Group does not subscribe or negotiate hedging instruments. The Group’s Financial Administrative Unit (“UAC”) supports, monitors and manages financial risks through internal reports, which are analyzed individually in each country depending on the degree and magnitude of the risks thereof. The financial UAC periodically reports to the shareholders the conclusions of such risk monitoring and proposes the plans and policies necessary to mitigate exposures. 27.3.2. Credit risk Credit risk refers to the risk that one of the parties fails to comply with its contractual obligations, resulting in a financial loss for the Group. As a corporate policy, the Group conducts business only with strong financial institutions and credit institutions with renowned national and international prestige. For banks, only independently rated parties with a minimum rating of ‘A’ are accepted. The Group only makes transactions with financial entities that have risk certifications and/or that are monitored by the relevant authorities in each country. The information provided by rating agencies is consistently monitored and, if not available, the Group uses other available financial information and its own business records to qualify its main customers and finance providers. Before accepting any new customer, the Group uses a rating system to assess the credit quality of the potential customer and defines the credit limits for each customer. Limits and ratings attributed to customers are reviewed twice a year. Trade accounts receivable that are not past due or impaired have the best credit rating according to the credit rating system used by the Group. Exposure to credit risk The carrying amount of financial assets represents the maximum credit exposure of the Group. The carrying amount is presented net of impairment losses. None of the receivable balances as of December 31, 2021 or 2020 constitutes a significant concentration of credit risk. There are no other single customers representing more than 10% of total gross trade receivables for the years ended December 31, 2021 and 2020. Expected credit losses The average credit period on the sale of medicines is 60 to 120 days. In some cases, depending on market conditions and strategy, longer payment periods are granted. No interest surcharge is made on commercial accounts receivable. Refer to Note 3.4. Financial Instruments for further information on financial instruments significant accounting policies. The Group has recognized a provision for doubtful accounts. The Group evaluates the impairment of its accounts receivable for the expected credit loss model, where it determines its value based on the probability of default, the loss due to default (i.e., the extent of the loss in case of default) and the exposure, by the application of the ’simplified method’ for trade receivables without a significant financing component. The assessment of the probability of default and the loss due to default is mainly based on historical data and adjust historical loss rates to reflect information about current conditions and reasonable and supportable forecasts of future economic conditions. December 31, 2021 Current 1-30 days 31-60 61-90 91-120 More than Total Weighted-average loss rate 0.60 % 2.11 % 2.35 % 3.38 % 3.26 % 67.43 % 14.67 % Gross carrying amount 98,776 11,265 3,147 1,981 1,843 30,578 147,590 Impairment loss allowance (591 ) (238 ) (74 ) (67 ) (60 ) (20,620 ) (21,650 ) 98,185 11,027 3,073 1,914 1,783 9,958 125,940 December 31, 2020 Current 1-30 days 31-60 61-90 91-120 More than Total Weighted-average loss rate 0.53 % 2.59 % 2.81 % 5.82 % 14.78 % 59.77 % 9.60 % Gross carrying amount 74,639 5,216 2,958 1,754 406 14,724 99,697 Impairment loss allowance (393 ) (135 ) (83 ) (102 ) (60 ) (8,800 ) (9,573 ) 74,246 5,081 2,875 1,652 346 5,924 90,124 December 31, 2019 Current 1-30 days 31-60 61-90 91-120 More than Total Weighted-average loss rate 0.68 % 1.98 % 2.49 % 4.36 % 5.10 % 80.12 % 10.99 % Gross carrying amount 69,478 13,584 4,989 2,224 1,176 13,061 104,512 Impairment loss allowance (474 ) (269 ) (124 ) (97 ) (60 ) (10,464 ) (11,488 ) 69,004 13,315 4,865 2,127 1,116 2,597 93,024 As of December 31, 2021 no impairment losses were recognized for balances in connection with related parties. However, as of December 31, 2020 and 2019 an allowance was constituted to open balances referred to goods sold with Industrias Intercaps de Venezuela and Laboratorios Vivax Pharmaceuticals, 27.3.4. Market risk Foreign currency risk The Group carries out transactions denominated in foreign currency, mainly imports, exports and indebtedness; thereby generating exposures to exchange rate fluctuations. The Group does not usually cover exposures to the exchange rate, but rather monitors frequently the foreign exchange market as a strategy to prevent significant loss in the short- and medium-term. The carrying amounts of the Group’s foreign currency denominated monetary assets and monetary liabilities at the reporting date are as follows: Assets Liabilities 2021 2020 2019 2021 2020 2019 COP 124,545 100,077 92,849 (99,371 ) (124,957 ) (99,880 ) Reales 7,002 4,808 6,700 (9,125 ) (5,385 ) (2,978 ) Córdoba — — 2,719 — — (2,600 ) Quetzales 1,946 90 1,558 (4,115 ) — (4,805 ) Soles 7,024 5,249 4,819 — (8,564 ) (6,928 ) DOP 809 817 — (2,869 ) (3,093 ) — Colones 1,270 1,234 — (2,371 ) (2,410 ) — The following table details sensitivity per company to a 10% increase and decrease in the U.S. dollar against the relevant foreign currencies. The sensitivity analysis includes only the outstanding monetary items denominated in foreign currency and adjusts its conversion at the end of the period for a 10% change in exchange rates. +10% Impact to profit or loss before tax -10% Impact to profit or loss before tax 2021 2020 2019 2021 2020 2019 COP (2,289 ) 2,262 639 2,797 (2,764 ) (781 ) Reales 193 52 (338 ) (236 ) (64 ) 414 Córdoba — — (11 ) — — 13 Quetzales 197 (8 ) 295 (241 ) 10 (361 ) Soles (639 ) 301 192 781 (368 ) (234 ) DOP 187 207 — (229 ) (253 ) — Colones 100 107 — (122 ) (131 ) — Interest rate risk The Group is exposed to interest rate risks because it borrows money at both fixed and variable interest rates connected with LIBOR and IBR/DTF (According to it’s Spanish acronym of “ Indicador bancario de referencia The following sensitivity analyzes have been determined based on exposure of financial liabilities to the highlighted variable interest rates: 2021 2020 2019 Carrying +1% -1% Carrying +1% -1% Carrying +1% -1% DTF/IBR 67,970 68,650 67,290 105,039 106,089 103,989 91,443 92,357 90,529 Libor 19,451 19,646 19,256 45,301 45,754 44,848 51,244 51,756 50,732 Total 87,421 88,296 86,546 150,340 151,843 148,837 142,687 144,113 141,261 $87,421 27.3.5. Liquidity risk The Group’s Financial UAC has ultimate responsibility for the liquidity management of each of the companies and has established an appropriate framework so that Management can make decisions on short-, medium- and long-term financing, as well as liquidity management. The company manages liquidity risk by maintaining reserves, adequate financial and loan facilities, continuously monitoring projected and actual cash flows, and reconciling the maturity profiles of financial assets and liabilities. In the same sense, financial assets to afford obligations represent cash and trade receivables intended to be collected in short term, net of the expectations of recoverability. The following table details the most representative remaining contractual maturity and repayment periods of the Group's financial liabilities. This reflects the undiscounted cash flows of financial liabilities, considering the date on which the company must make the final payments. As part of other liabilities within borrowings, the Group includes obligations to factors associated with factoring and reverse factoring arrangements. Ordinary payment terms with suppliers range between 60 and 90 days but may be extended through reverse factoring arrangements up to 180 days in aggregate. The Group’s obligations to individual factors typically is less than 5% of the Group’s total indebtedness. The majority of the Group’s factoring and reverse factoring obligations are concentrated with Sufactura S.A, Corredores Asociados S.A. and Banco Serfinansa S.A.: As of December 31, 2021 Carrying Contractual Less than 1-2 years 2-3 years 3-5 years More Non-derivative financial liabilities Borrowings 221,619 253,011 71,987 16,895 15,330 20,323 128,476 Trade and other payables 85,381 85,381 85,381 — — — — Lease liabilities 31,747 39,904 9,853 7,403 5,333 8,314 9,001 Amounts owed to related parties 8,450 8,450 8,450 — — — — 347,197 386,746 175,671 24,298 20,663 28,637 137,477 As of December 31, 2020 Carrying Contractual Less than 1-2 years 2-3 years 3-5 years More Non-derivative financial liabilities Borrowings 417,719 628,874 114,214 65,966 447,035 1,103 556 Trade and other payables 94,116 94,116 94,116 — — — — Lease liabilities 36,799 39,571 11,392 12,963 6,759 3,441 5,016 Amounts owed to related parties 20,622 20,622 8,459 12,163 — — — 569,256 783,183 228,181 91,092 453,794 4,544 5,572 Capital risk management The Group manages its capital to ensure that it will be able to continue as a going concern, while maximizing returns to its shareholders through the optimization of debt and asset balances. The Group’s capital structure consists of net debt (loans offset by cash and bank balances) and Group assets (comprised of issued and paid-in capital, reserves, retained earnings and non-controlling interests). The Group is not subject to any externally imposed capital requirement. The main indebtedness of the Group is associated with the balances of a Syndicated Loan and the Senior Notes, and are subject to covenants that obligate it to comply with a series of financial indicators, primarily financial leverage (Debt/EBITDA), short-term leverage ratio and EBITDA on interest expense. These financial indicators serve as local management parameters. The executive members of the UAC of the Group, who provide support for the analysis and management of capital risk to the Companies, review their capital structure on a quarterly basis. As part of this review, the committee considers the cost of capital and the risks associated with each class of capital. The Group is reviewed in an internal administrative manner, with the same covenants that apply to the Syndicated Procaps S.A. The main financial covenant is determined as the ratio of the debt to the EBITDA generated by the Group. Indebtedness Index The indebtedness index for the reporting period is the following: 2021 2020 2019 Total assets 1 462,135 359,538 337,728 Total liabilities 2 500,475 614,216 581,675 Liabilities to assets ratio 1.08 1.71 1.72 1 Defined as short-term assets plus long-term assets 2 Defined as short-term liabilities plus long-term liabilities

Events after the reporting peri

Events after the reporting period	12 Months Ended
	Dec. 31, 2021
Disclosure of events after reporting period [text block] [Abstract]
Events after the reporting period	Note 28. Events after the reporting period Management has considered subsequent events through the date these consolidated financial statements were issued. No events were identified by Management that would require disclosure.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2021
Disclosure of related party [text block] [Abstract]
Related party transactions	Note 29. Related party transactions Balances and transactions between the Group and its subsidiaries, which are related parties, have been eliminated on consolidation and are not disclosed in this note. Transactions between the Group and its related parties are disclosed below. Outstanding activities During the year, the Group entities carried out the following transactions with joint ventures and other related parties: For the year ended 2021 2020 2019 Sale of finished products 3,825 3,757 3,240 Revenue from services and consulting 116 87 222 Purchases of raw materials and other services 10,240 11,339 11,401 Interest expense derived from related parties amount to $61 (2020: $49). The following amounts were outstanding at the reporting date: For the year ended 2021 2020 Amounts owed by related parties, net 1,147 2,562 The Group has net receivables of $1,147 (2020: $2,562). These amounts include fully provisioned balances of $18,060 (2020: $18,148) with Industrias Intercaps de Venezuela Vivax Pharmaceuticals For the year ended 2021 2020 Amounts owed to related parties 1,335 4,778 Loans owed to related parties 7,115 15,844 Amounts owed to related parties 8,450 20,622 Current 8,450 8,459 Non-current — 12,163 Donations to Fundación Procaps Goods and services were sold or provided parties during the year based on the price lists in force and terms that would be available to third parties. All outstanding balances with these related parties are priced on an arm’s length basis and are to be settled in cash within two months of the reporting date. None of the balances are secured. No expense has been recognized in the current year or prior year for bad or doubtful debts in respect of amounts owed by related parties. Loans to and from related parties Loans to related parties 2021 2020 2019 Balance as of January 1 $ 304 $ 499 $ 542 Loans advanced — — 289 Loan repayments received (28 ) (195 ) (332 ) Balance as of December 31 $ 276 $ 304 $ 499 Loans from related parties 2021 2020 2019 Balance as of January 1 $ 15,844 $ 20,963 $ 24,557 Loans advanced — 32 — Loan repayments (9,154 ) (5,856 ) (4,570 ) Interest accrued 425 705 976 Balance as of December 31 $ 7,115 $ 15,844 $ 20,963 The loans to and from related parties are repayable between one year from the reporting date. The average interest rate on the loans during the year was 6% (2020: 6%). Outstanding balances are unsecured and are repayable in cash. No loss allowance was recognized in expense in 2021 or 2020. Put option agreements with IFC and Hoche for the right to put back all or some of the ordinary shares they held in Crynssen was presented as a separate financial liability, until the effectiveness of the Transaction, even though both are related parties. See Note 19. Borrowings for further detail. Transactions with directors and executive board management members Total management compensation included in the consolidated statement of profit or loss are as follows: For the year ended 2021 2020 Short-term employee benefits $ 3,359 $ 2,617 Consulting fees 1,912 100 $ 5,271 $ 2,717

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Goodwill	Goodwill Goodwill arising from the acquisition of a business is recorded at cost at the acquisition date, less accumulated impairment losses, if any. Goodwill is stated at cost and not amortized but is tested for impairment on an annual basis and whenever there is an indicator that the cash-generating unit to which goodwill has been allocated may be impaired. 3.1.1 Goodwill impairment Goodwill is tested for impairment annually at the cash-generating unit level, which is the level at which the assets generate largely independent cash inflows and are monitored for internal management purposes. An impairment loss is recognized whenever the carrying amount of an asset or the related cash-generating unit exceeds its recoverable amount. Impairment losses are recognized in the consolidated statements of profit or loss. Impairment losses recognized for cash-generating units first reduce allocated goodwill and then the carrying amounts of the other assets in the unit on a pro rata basis. Refer to Note 12. Goodwill and Note 4. Critical accounting judgements and key sources of estimation uncertainty or further information on the goodwill exposure and estimates applied, respectively.
Transactions in foreign currency	Transactions in foreign currency When preparing the financial statements of the individual underlying entities of the Group, transactions in a currency other than the functional currency of the entity (“foreign currency”) are recorded using the exchange rates in effect on the transaction date. At the end of each reporting period, monetary items denominated in a foreign currency are reconverted at the exchange rates prevailing at that date. Non-monetary items calculated in terms of historical cost, in foreign currency, have not been reconverted. For purposes of presenting the consolidated financial statements, the assets and liabilities of the Group’s foreign currency transactions are expressed in USD, using the exchange rates prevailing at the end of the respective reporting period. Revenues and expenses are translated at the average exchange rates for the respective period. The exchange differences that arise, if applicable, are recognized through other comprehensive income and are accumulated in equity (attributed to the non-controlling interests when appropriate).
Leases - Right-of-use assets & lease liabilities	Leases - Right-of-use assets & lease liabilities The Group assesses whether a contract is or contains a lease at inception of a contract. The Group recognizes a right-of-use asset and a corresponding lease liability with respect to all lease agreements in which it is the lessee, except for short-term leases (defined as leases with a lease term of 12 months or less) and leases of low value assets (defined as assets with a value less than $5,000). For these leases, the Group recognizes the lease payments as an operating expense on a straight-line basis over the term of the lease, and payments for these leases are presented in the combined statements of cash flows from operating activities. The right-of-use assets comprise the initial measurement of the corresponding lease liability, lease payments made at or before the commencement date and any initial direct costs. They are subsequently measured at cost less accumulated depreciation and impairment losses. The right-of-use assets are depreciated starting at the commencement date and over the shorter period of useful life of the underlying asset (in the case the lease transfers ownership of the underlying asset to the Group by the end of the lease term or cost of the right-of-use assert reflects that the Group will exercise a purchase option) and lease term. The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted by using the interest rate implicit in the lease. If this rate cannot be readily determined, the Group uses its incremental borrowing rate specific to the country, term and currency of the contract. In addition, the Group considers its recent indebtedness as well as publicly available data for instruments with similar characteristics when calculating the incremental borrowing rates. Lease payments include fixed payments, less any lease incentives, variable lease payments that depend on an index or a rate known at the commencement date, and purchase options or extension option payments if the Group is reasonably certain to exercise these options. Variable lease payments that do not depend on an index or rate are not included in the measurement of the lease liability and right-of-use asset and are recognized as an expense in the combined income statements in the year/period in which the event or condition that triggers those payments occurs. A lease liability is remeasured upon a change in the lease term, changes in an index or rate used to determine the lease payments or reassessment of exercise of a purchase option. The corresponding adjustment is made to the related right-of-use asset. The lease liability is presented in the ‘Borrowings’ line and the right-of-use assets are presented in a single line in the consolidated balance sheet. In addition, the principal portion of the lease payments is presented within financial activities and the interest component is presented within operating activities in the consolidated statements of cash flows.
Financial Instruments	Financial Instruments Financial assets and liabilities are recognized when an entity of the Group becomes party to the contractual provisions of an instrument. Financial assets and liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and liabilities (other than those designated at fair value through profit or loss) are added to or deducted from the fair value of the financial assets or liabilities, when appropriate, at initial recognition. Transaction costs directly attributable to the acquisition of financial assets or liabilities designated at fair value through profit or loss are recognized immediately through profit or loss. 3.4.1 Classification of financial assets If and when applicable the Company follows the framework and requirements outlined in IFRS 9 to classify financial assets based on whether: ● The financial asset is held within a business model whose objective is to collect contractual cash flows or whose objective is achieved through the collection of contractual cash flows and the sale of financial assets; and ● The contractual terms give rise to cash flows that are only payments of principal and interest. By default, all other financial assets are subsequently measured at fair value through profit or loss. Trade receivables are amounts due from customers for goods sold or services performed in the ordinary course of business. They are generally due for settlement within 30 days and are therefore all classified as current. Trade receivables are recognized initially at the amount of consideration that is unconditional, unless they contain significant financing components, when they are recognized at fair value. The Group holds the trade receivables with the objective of collecting the contractual cash flows and therefore measures them subsequently at amortized cost using the effective interest method. 3.4.2 Gains and losses in foreign currency Trade receivables denominated in a currency other than the subsidiaries’ functional currency is determined in that foreign currency and converted to the subsidiaries’ functional currency at the end of each reporting period using the then prevailing spot rate. Exchange differences are recognized through profit or loss and are classified within other expenses. 3.4.3 Impairment of financial assets The Group recognizes a provision for expected credit losses on trade and other receivables. The Group applies the ‘simplified’ approach as required by IFRS 9 since generally the Group’s trade receivables do not include a significant financing component. The Group therefore recognizes the lifetime expected credit losses over the life of the trade and other receivables. Other receivables are generally assessed individually and a lifetime expected credit loss is estimated based on the receivable and debtor specific facts and circumstances. 3.4.4 Definition of default The Group considers that an event of default has occurred when more than 50% of the customers trade receivable balance is more than 90 days overdue, unless there is reasonable and supportable information to demonstrate that such default is not in existence. 3.4.5 Impaired trade receivables A financial asset has been impaired when one or more events have occurred that have a negative impact on the estimated future cash flows of the trade receivable. The evidence of credit impairment includes observable data on the following events: ● significant financial difficulty of the customer; ● customer enters into or is likely to enter into bankruptcy; ● a breach of contract, such as an expired event; ● for economic or contractual reasons one or more concessions have been granted. 3.4.6 Measurement of impairment The expected credit losses on trade receivables are estimated using a methodology where a probability of default is estimated based on historical information, adjusted for current and forecasted economic conditions, if applicable. If applicable and significant, the Group may adjust the provision based on a probability weighing of various scenarios and factors in the time value of money: ● Probability of default (‘PD’): The PD is derived by analyzing a rolling dataset of twenty-four months in which trade receivables are tracked and analyzed as they move through the aging buckets. ● Loss given default: The Group typically defines the loss given default to be one hundred percent. ● Exposure at default: The trade receivable balance as of the reporting date, net of advances and credit notes. As of the reporting dates presented, the Group has not deemed these to be significant. The Group estimates the probability of default at the pool level and then applies such pool level PD to the trade receivables within that pool. The Group generally defines each pool within its main subsidiaries as: ● Domestic ● Export ● Government ● Related parties The Group recognizes an impairment loss or gain in the aggregate for all trade receivables as a provision with corresponding amount recognized in Administrative expenses The Group writes-off individual trade receivables when uncollected when they become 365 days past due. 3.4.7 Derecognition of financial assets The Group derecognizes a financial asset only when the contractual rights to the asset’s cash flows expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership of the asset to another party. If the Group does not transfer or retain substantially all risks and rewards of ownership and continues to control the transferred asset, the Group recognizes its interest retained in the asset and an associated liability for the amounts to be paid. If the Group retains substantially all the risks and rewards of ownership of a transferred financial asset, the Group continues to recognize the financial asset and also recognizes a loan secured by the revenue received. Upon derecognition of a financial asset measured at amortized cost, the difference between the carrying amount of the asset and the sum of the consideration received and receivable is recognized through profit or loss. The Group also derecognizes a financial asset when there is information which indicates that the counterparty is in serious financial difficulty and there is no realistic prospect of recovery. The derecognized financial assets may still be subject to compliance activities in accordance with the Group’s recovery procedures, taking into account legal advice when appropriate. Any recovery is recognized through profit or loss. Accounts receivable Factoring As part of the regular business and in case of immediate cash needs, the Group could sell its accounts receivable (i.e., invoices) to a third party (factor) at a discount. The Group analyzes whether these transactions are with recourse without recourse with recourse,
Inventories, net	Inventories, net Inventories are presented at the lower of acquisition cost or net realizable value. Cost is determined by the weighted average method. The net realizable value represents the estimated sale price less all the estimated termination and selling costs. The cost of finished products and products in progress includes the costs of raw materials, direct labor, other direct costs and the respective direct production expenses (based on normal operating capacity), excluding borrowing costs. Inventories are presented net of the allowances for obsolescence and, in consolidation, net of eliminations of unrealized profit on inventories.
Property, plant and equipment, net	Property, plant and equipment, net Property, plant and equipment assets are measured at historical cost less accumulated depreciation and any impairment loss, except for those acquired in a business combination, which are then recorded at fair value; assets under construction and land are not depreciated. The cost of the property, plant and equipment is the fair value of the consideration initially provided to acquire or construct the item and prepare it for use. Subsequent costs incurred for repair and maintenance, are expensed in the consolidated statements of comprehensive income unless these costs meet the criteria for capitalization (i.e. extension of the useful life). Depreciation commences when the assets are ready for use. Property, plant and equipment is depreciated based on the straight-line method over estimated useful lives. An item of property, plant and equipment will be derecognized upon disposal or when future economic benefits from the continued use of the asset are no longer expected. The gain or loss arising from the derecognition is measured as the difference between the gain on sale and the carrying amount of the asset and is recognized through profit or loss. The useful lives of property, plant and equipment are: Buildings 20 - 40 years Machinery and equipment 10 - 20 years Furniture and fixtures 2 - 10 years Other equipment 2 - 5 years
Intangible assets	Intangible assets 3.7.1 Intangible assets generated internally Disbursements originated by research activities are recognized as an expense in the period in which they are incurred. An intangible asset generated internally as a result of development activities (or the development phase of an internal project) is recognized if, and only if, the following conditions are met: ● It is commercially and technically feasible to complete the production of the intangible asset so that it can be available for use or sale; ● Management intends to complete the intangible asset in question in order to use or sell it or can demonstrate the way in which the intangible asset will likely generate future economic benefits; ● Adequate technical, financial or other resources are available to complete the development and to use or sell the intangible asset; and ● The Group is able to reliably measure the disbursement attributable to the intangible asset during its development. The expenses incurred in developing new pharmaceutical technologies, combination of active ingredients and formulation improvements, meet the conditions of the previous paragraph, usually from the beginning of pilot batches (completion of the experimental batch stage), at which point management considers that achieving regulatory approval (sanitary registration) is a legal formality. The amount initially recognized for an internally generated intangible asset will be the sum of the disbursements incurred once the element meets the recognition conditions. When an internally generated intangible asset cannot be recognized, development disbursements are charged through profit or loss in the period in which they are incurred. Subsequent to initial recognition, an internally generated intangible asset will be accounted for at cost less accumulated amortization and the accumulated amount of impairment losses, on the same basis as intangible assets that are acquired separately. 3.7.2 Disposal of intangible assets An intangible asset is written off at the time of its disposal, or when future economic benefits of its use or disposal are not expected. Gains or losses arising from the write-off of an intangible asset, measured as the difference between the net proceeds from the sale and the carrying amount of the asset, are recognized through profit or loss when the asset is written off. 3.7.3 Impairment of definite-lived tangible and intangible assets and intangibles not yet available for use, and other assets At the end of each reporting period, the Group evaluates the carrying amounts of its definite-lived tangible and intangible assets and those intangibles not yet available for use in order to identify any indication that these assets have been impaired. In such a case, the recoverable amount of the asset is calculated in order to determine the extent of the impairment loss (if any). When it is not possible to estimate the recoverable amount of an individual asset, the Group calculates the recoverable amount of the cash generating unit to which the asset belongs. When a reasonable and consistent basis of distribution is identified, the common assets are also allocated to the individual cash generating units or distributed to the smallest group of cash generating units for which a reasonable and consistent distribution base can be identified. The recoverable amount is the higher of the fair value less disposal costs and the value in use. When estimating the value in use, the estimated future cash flows are discounted to the present value, using a pre-tax discount rate that reflects the current market valuations with respect to the time value of money and the specific risks for the asset for which the future cash flow estimates have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) calculated is less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. Impairment losses are recognized immediately through profit or loss. If an impairment loss is subsequently reversed, the carrying amount of the asset (or cash-generating unit) increases to the revised estimated value of its recoverable amount, so that the increased carrying amount does not exceed the carrying amount that would have been calculated if the impairment loss had not been recognized for said asset (or cash-generating unit) in previous years. The reversal of an impairment loss is automatically recognized through profit or loss. 3.7.4 Amortization of internally generated intangibles Internally generated intangible assets such as licenses, bioequivalence studies, new platforms, tablet improvements, combinations and concentrations, and soft gel capsule improvements, among others, are of finite useful lives and their amortization period will begin only when the following two milestones are met: ● The pre-industrial batch is completed with satisfactory results. ● The regulatory body approves the corresponding sanitary registration. When these milestones are met, the capitalized developments will have met the necessary conditions to generate economic benefits in accordance with management’s expectations, so the amortization of the assets begins using the straight-line method through profit or loss during the minimum projected time of generated economic benefits. The amortization will also cease at the earliest of either the date when the asset is classified as held for sale or the date when the asset is derecognized. 3.7.5 Useful lives of intangibles The following useful lives are used to calculate amortization: Trademarks and sanitary records 3 – 20 years Licenses, customers and agreements 3 – 10 years Product development 3 years
Financial liabilities and equity instruments	Financial liabilities and equity instruments 3.8.1 Classification as debt or equity Debt and equity instruments are classified as financial liabilities or equity in accordance with the substance of the contractual agreement and definitions of financial liability and equity instrument. 3.8.2 Equity instruments An equity instrument consists of any contract that evidences a residual interest in the assets of an entity, after deducting all of its liabilities. Equity instruments issued by a Group entity are recognized for income received, net of direct issue costs. The repurchase of equity instruments of the Group is recognized and deducted directly in equity. No gain or loss is recognized through profit or loss, arising from the purchase, sale, issue or cancellation of the equity instruments of the Group. 3.8.3 Financial liabilities Financial liabilities are classified at their inception at fair value through profit or loss or at amortized cost, using the effective interest amortization method. 3.8.4 Warrant liabilities The Group has warrants that are initially recognized at fair value on the date a derivative contract is entered into, and they are subsequently remeasured to their fair value at the end of each reporting period. Gains and losses will be recorded in profit or loss. 3.8.5 Shares held in escrow The shares to be delivered, in an escrow, are initially recognized at fair value of the equity instruments granted for services received in an equity-settled share-based payment determined at grant date, and they are subsequently remeasured to their fair value at the end of each reporting period until they are released from escrow or are forfeited.
Trade and other payables, net	Trade and other payables, net Trade and other payables are recognized when the Group has a legal or a constructive obligation, as a result of a past event, and it is probable that there may be an outflow of resources embodying economic benefits to settle the obligation and the obligation can be measured reliably. These amounts represent liabilities for goods and services provided to the Group prior to the end of financial year which are unpaid. The average credit period for purchases is between 90 and 180 days, including cases in which the invoices have been assigned by the supplier to third parties. Other payables correspond mainly to employment obligations and provisions. Reverse factoring Suppliers of the Group initiate and enter into reverse factoring arrangements in which the Group participates. Under such arrangements suppliers sell or assign their receivables from the Group to third parties (i.e. ‘the factor’), after which the Group pays and settles the underlying invoices directly with the factors. Provided that certain conditions are met, the invoices sold or assigned to factors remain classified within trade and other payables. The criteria are that: 1) the assignment is contractually initiated and decided by the supplier, 2) it does not extend the period in which the Group regularly pays the supplier, 3) the amount of the invoices is not modified, and there are no charges in this regard by third parties. Otherwise, the Group reclassifies those balances as a financial liability, other term loans with a corresponding reclassification from operating cash flows to financing cash flows, for the amount paid to factors.
Taxes	Taxes Income tax expense represents the sum of current income tax payable and deferred tax. 3.10.1 Current tax Current tax is based on the taxable income registered during the year. The taxable income differs from the income reported in the consolidated statement of profit or loss and other comprehensive income, due to the items of income or expenses that are taxable or deductible in other years and items that are never taxable or deductible. The liabilities of the Group for current tax purposes are calculated using the tax rates enacted or substantially approved at the end of the respective reporting period. 3.10.2 Deferred tax Deferred tax is recognized on temporary differences between the carrying amount of the assets and liabilities included in the consolidated financial statements and the corresponding tax basis used to determine the taxable income. The deferred tax liability is generally recognized for all temporary tax differences. A deferred tax asset will be recognized, as a result of all deductible temporary differences, to the extent that it is likely that each entity will have future taxable income against which to charge those deductible temporary differences. These assets and liabilities are not recognized if the temporary differences arise from the initial recognition (rather than through a business combination) of other assets and liabilities in an operation that does not affect the taxable income or the accounting income. In addition, deferred tax liabilities are not recognized if the temporary difference arises from the initial recognition of goodwill. A deferred liability should be recognized for taxable temporary differences associated with investments in subsidiaries and joint ventures, and interests in joint ventures, except for those in which the Group is able to control the reversal of the temporary difference and when there is a possibility that it cannot be reversed in the near future. Deferred tax assets arising from the deductible temporary differences associated with such investments and participation are only recognized to the extent that it is likely that each entity will have future taxable profits against which to charge those temporary differences and when there is the possibility that these can be reversed in the near future. The carrying amount of a deferred tax asset must be reviewed at the end of each reporting period and reduced, to the extent that it is likely that it will not have sufficient taxable income in the future to allow all or part of the asset to be recovered. Deferred tax assets and liabilities should be measured using the tax rates expected to be applied in the period in which the asset is realized or the liability is settled, based on the rates (and tax laws) enacted or substantively enacted at the end of the respective reporting period. The measurement of deferred tax liabilities and deferred tax assets will reflect the tax consequences that would arise based on each Group company’s expectations, at the end of the reporting period, to recover or settle the carrying amount of their assets and liabilities. Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets, and relate to taxes levied by the same tax authority on the same taxable entity, or on different taxable entities. 3.10.3 Current and deferred taxes Current and deferred taxes should be recognized through profit or loss, except when they relate to items listed in other comprehensive income or directly in equity, in which case the current or deferred tax is also recognized though other comprehensive income or directly in the equity, respectively. In cases of business combinations, when the current tax or deferred tax arises from the initial accounting of the business combination, the tax effect is considered within the accounting of the business combination.
Provisions	Provisions Provisions are recognized when (i) the Group has a present legal or constructive obligation as a result of past events, (ii) it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, and (iii) a reliable estimate of the amount of the obligation can be made. Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and, where appropriate, the risks specific to the liability. 3.11.1 Disputes and litigation A provision for disputes and litigation is recognized when it is more likely than not that the Group will be required to make future payments as a result of past events, such items may include but are not limited to claims, lawsuits and actions relating to employment related disputes and claims from tax authorities.
Employee benefits	Employee benefits Note 3.12.1. Retirement and termination benefit costs Payments to defined contribution retirement benefit plans are recognized as an expense when employees has rendered service entitling them to the contributions. Payments made to state-managed retirement benefit plans are accounted for as payments to defined contribution plans where the Group’s obligations under the plans are equivalent to those arising in a defined contribution retirement benefit plan. For defined benefit retirement benefit plans, the cost of providing benefits is determined using the Projected Unit Credit Method, with actuarial valuations being carried out at the end of each annual reporting period. Remeasurements for actuarial gains and losses are recognized immediately in the consolidated statement of financial position with a charge or credit to other comprehensive income in the period in which they occur. Remeasurements recognized in other comprehensive income are not reclassified. Past service cost is recognized in profit or loss when the plan amendment or curtailment occurs or when the Group recognizes related restructuring costs or termination benefits, if earlier. Gains or losses on settlement of a defined benefit plan are recognized when the settlement occurs. Net interest is calculated by applying a discount rate to the net defined benefit liability. Defined benefit costs are split into three categories: ● service cost, which includes current service cost, past service cost and gains and losses on curtailments and settlements; ● net interest expense; and ● remeasurements. The retirement benefit obligation recognized in the consolidated statement of financial position represents the deficit or surplus in the Group’s defined benefit plans. Any surplus resulting from this calculation is limited to the present value of any economic benefits available in the form of refunds from the plans or reductions in future contributions to the plans. A liability for a termination benefit is recognized at the earlier of when the Group can no longer withdraw the offer of the termination benefit and when the Group recognizes any related restructuring costs. Discretionary contributions made by employees or third parties reduce service cost upon payment of these contributions to the plan. The Group recognized a net interest expense within finance costs as of December 31, 2021 of $67 (2020: $60, 2019: $47) while remeasurements of the calculations are reflected in the Statement of Other Comprehensive Income. Remeasurements of the calculations represented a decrease of $195 (increase 2020: $47, decrease 2019: $122). Note 3.12.2. Short-term and other long-term employee benefits A liability is recognized for benefits accruing to employees in the form of wages and salaries, annual leave and sick leave in the period the related service is rendered at the undiscounted amount of the benefits expected to be paid in exchange for that service. Liabilities recognized in respect of short-term employee benefits are measured at the undiscounted amount of the benefits expected to be paid in exchange for the related service. Liabilities recognized in respect of other long-term employee benefits are measured at the present value of the estimated future cash outflows expected to be made by the Group in respect of services provided by employees up to the reporting date. As of December 31, 2021, the Group recognized employee benefits costs within profit or loss as cost of sales of $25,051 (2020: $27,421, 2019: $23,688) and $62,200 (2020: $48,913, 2019: $52,956) as administrative expenses.
Revenue recognition	Revenue recognition The Group recognizes revenues from the sale of pharmaceutical products and the provision of services primarily related to product development projects. Revenue is measured based on the consideration specified in a contract with a customer and excludes balances collected on behalf of third parties. The Group recognizes revenue when transferring control of a product or service to a customer. 3.13.1 Sale of goods Revenue from the sale of goods is recognized when the control of the goods is transferred (both in export and domestic operations) and the performance obligations have been fulfilled by the Group, which occurs when the product is delivered to the location specified by the customer, according to the negotiating conditions agreed upon. Revenues are reduced by discounts or rebates and other similar allowances estimated for customers. 3.13.2 License revenues Revenue from the sale of intellectual property (licenses) is recognized based on the evaluation of whether an entity’s commitment to grant a license provides the customer with a right of access to intellectual property, which is transferred over time, or a right to use the intellectual property of an entity, which is transferred at a point in time. The license is a commitment to provide a right of access to the entity’s intellectual property if all the following criteria are met: ● the contract requires, or the customer reasonably expects, that the entity carries out activities that significantly affect the intellectual property to which the customer is entitled; ● the rights granted by the license directly expose the customer to the positive or negative effects of the entity’s activities identified in subsection a above; and ● those activities do not result in the transfer of a good or service to the customer as such activities take place. If these criteria are not met, the license grants the customer a right to use the license, and the transaction is recognized when the license is granted to the customer. 3.13.3 Service provision Revenue from service contracts are recognized based on the status of completion of the contract. If the Group transfers control of a service to satisfy the performance obligation over time, it then recognizes revenue over time, if one of the following criteria is met: ● the customer simultaneously receives and consumes the benefits provided by the entity’s performance as the entity performs; ● the entity’s performance creates or enhances an asset that the customer controls as it is created or enhanced; or ● the entity’s performance does not create an asset with an alternative use for the entity and the entity has an enforceable right to payment for performance that has been completed to date. 3.13.4 Sale of trademarks and sanitary registration Revenue from contracts for the sale of a trademark or sanitary registration are recognized at the point of the transfer of possession, use, enjoyment and other real and personal rights at the price agreed in the contract, fulfilling the following conditions: ● The customer has the right to all the benefits of the commercial use of the trademark or sanitary registration. ● The customer can redirect the use of the trademark or sanitary registration. ● The customer is responsible for sales, marketing and advertising activities.
Segment reporting	Segment reporting An operating segment is a component that engages in business activities from which it may earn revenues and incur expenses, including revenues and expenses that relate to transactions with any of the other components, and for which discrete financial information is available. The Group is engaged in the business of developing, producing and marketing pharmaceutical solutions and related activities and is considered an integrated international healthcare and pharmaceutical company across the three core therapeutic areas: hospitals/clinics, pharmacies (prescription) and over-the-counter (non-prescription). The Group’s customer revenue recognition (external revenue) policy has been consistent with inter-segment revenue generated. The Group’s business is organized and managed through a combination of geographical regions and business units through 39 legal entities, of which 23 are operating entities, divided in strategic divisions, which are its reportable segments. These divisions offer different products and services and are managed separately as they require different technology and marketing strategies. The following summary describes the operations of each reportable segment: Reportable segment Operations NextGel Manufacturing and distribution of prescription and over-the-counter pharmaceutical products in USA, Brazil and Colombia Procaps Colombia Manufacturing and distribution of prescription and over-the-counter pharmaceutical products in Colombia CAN Manufacturing and distribution of prescription and over-the-counter pharmaceutical products in Northern Central America: Salvador, Guatemala, Nicaragua and Honduras CASAND Manufacturing and distribution of prescription and over-the-counter pharmaceutical products in Southern Central America (Panama and Costa Rica) and the North Andes District (Ecuador, Peru and Bolivia) Diabetrics Diabetes solutions and chronic disease management tool The Group’s chief executive officer reviews the internal management reports of each division at least quarterly.
Principles of consolidation and equity accounting	Principles of consolidation and equity accounting Non-controlling interests in the results and equity of subsidiaries are shown separately in the consolidated statement of profit or loss, statement of comprehensive income, statement of changes in equity and balance sheet respectively. 3.15.1. Joint ventures Joint ventures are arrangements whereby the Group maintains joint control of the underlying net assets of the arrangement with the counterparties. The Group holds a single 50% interest in one joint venture and the Group holds 50% of the voting rights and management board representation. Investments in joint ventures are accounted for using the equity method of accounting, after initially being recognized at cost. 3.15.2. Equity method Under the equity method of accounting, the investments are initially recognized at cost and adjusted thereafter to recognize the Group’s share of the post-acquisition profits or losses of the investee in profit or loss, and the Group’s share of movements in other comprehensive income of the investee in other comprehensive income. Dividends received or receivable from joint ventures are recognized as a reduction in the carrying amount of the investment. Where the Group’s share of losses in an equity-accounted investment equals or exceeds its interest in the entity, including any other unsecured long-term receivables, the Group does not recognize further losses, unless it has incurred obligations or made payments on behalf of the other entity. Unrealized gains on transactions between the Group and its joint ventures are eliminated to the extent of the Group’s interest in these entities. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred. Accounting policies of equity-accounted investees have been changed where necessary to ensure consistency with the policies adopted by the Group. The carrying amount of equity-accounted investments is tested for impairment in accordance with the policy described in 3.7.3 Impairment of definite-lived tangible and intangible assets and intangibles not yet available for use, and other assets. 3.15.3. Changes in ownership interests The Group treats transactions with non-controlling interests that do not result in a loss of control as transactions with equity owners of the Group. A change in ownership interest results in an adjustment between the carrying amounts of the controlling and non-controlling interests to reflect their relative interests in the subsidiary. Any difference between the amount of the adjustment to non-controlling interests and any consideration paid or received is recognized in a separate reserve within equity attributable to owners of the Group. When the Group ceases to consolidate or equity account for an investment because of a loss of control, joint control or significant influence, any retained interest in the entity is remeasured to its fair value, with the change in carrying amount recognized in profit or loss. This fair value becomes the initial carrying amount for the purposes of subsequently accounting for the retained interest as an associate, joint venture or financial asset. In addition, any amounts previously recognized in other comprehensive income in respect of that entity are accounted for as if the Group had directly disposed of the related assets or liabilities. This may mean that amounts previously recognized in other comprehensive income are reclassified to profit or loss. If the ownership interest in a joint venture or an associate is reduced but joint control or significant influence is retained, only a proportionate share of the amounts previously recognized in other comprehensive income are reclassified to profit or loss where appropriate.
Net losses per ordinary share	Net losses per ordinary share Basic loss per ordinary share was computed by dividing basic net income attributable to ordinary shareholders by the weighted-average number of ordinary shares outstanding. Diluted income per ordinary share is computed by dividing diluted net income attributable to ordinary shareholders by the weighted-average number of ordinary shares outstanding plus dilutive potential ordinary shares, if any. Dilutive potential ordinary shares include outstanding warrants or other contracts to issue ordinary stock and are determined by applying the treasury stock method or if-converted method, as applicable, if dilutive. As of December 31, 2021, 2020 and 2019, considering that the loss per fully diluted share shall be calculated based on the result for the year divided by the weighted average number of fully diluted shares; The Group would not include the effects of potentially dilutive ordinary shares as their effect would be anti-dilutive. Number of shares prior to the Transaction are retrospectively adjusted as a capital restructuring for the equivalent number of shares received and on a pro rata basis for prior reporting periods.

General Company Information (Ta

General Company Information (Tables)	12 Months Ended
	Dec. 31, 2021
General Company Information [Abstract]
Schedule group’s principal subsidiaries	Place of Ownership interests held by: business/country The Group Non-controlling interests Name of entity of incorporation 2021 2020 2019 2021 2020 2019 Principal activities Procaps S.A. Colombia 100 % 100 % 100 % — % — % — % Manufacturing and distribution of prescription and over-the-counter pharmaceutical products. C.I. Procaps S.A. Colombia 100 % 100 % 100 % — % — % — % Procaps S.A. de C.V (previously Laboratorios Lopez S.A. de C.V.) El Salvador 100 % 100 % 100 % — % — % — % Softcaps - Colbras Brazil 100 % 100 % 100 % — % — % — % Diabetrics Healthcare S.A.S. Colombia 100 % 100 % 100 % — % — % — % Diabetes solutions and chronic disease management tool.

Basis of Preparation and Acco_2

Basis of Preparation and Accounting (Tables)	12 Months Ended
	Dec. 31, 2021
Basis of preparation and accounting [Abstract]
Schedule of revised Statement of Financial Position for the historical periods	As of December 31, 2020 As of January 1, 2020 Balance Sheet, restated As reported Restatement As restated As reported Restatement As restated Current liabilities Borrowings 102,621 12,159 114,780 90,157 9,818 99,975 Trade and other payables, net 106,275 (12,159 ) 94,116 114,426 (9,818 ) 104,608 As of June 30, 2021 Balance Sheet, restated As reported Restatement As restated Current liabilities Borrowings 95,262 17,479 112,741 Trade and other payables, net 113,117 (17,479 ) 95,638
Schedule of revised Statement of Financial Position for the historical periods	For the twelve month period ending December 31, 2020 For the twelve month period ending December 31, 2019 As Restatement 1 Other 2 As As reported Restatement 1 Other 2 As Operating activities (Increase)/decrease in operating Trade and other payables (8,149 ) 19,944 — 11,795 12,116 20,526 — 32,642 Interest paid — (1,839 ) — (1,839 ) — (2,216 ) — (2,216 ) Cash flow provided by (used in) operating activities 52,815 18,105 — 70,920 49,976 18,310 — 68,286 Investing activities: Advances to related parties — — — — — — (289 ) (289 ) Proceeds from related parties — — 195 195 — — 332 332 Cash flow provided by (used in) investing activities (17,286 ) — 195 (17,091 ) (12,112 ) — 43 (12,069 ) Financing activities: Proceeds from borrowings 106,736 — — 106,736 96,392 — — 96,392 Payments on borrowings (106,375 ) (19,944 ) 5,733 (120,586 ) (101,961 ) (20,526 ) 4,070 (118,417 ) Advances to related parties — — — — (289 ) — 289 — Proceeds from related parties 195 — (195 ) — 332 — (332 ) — Interest paid on borrowings (16,941 ) 1,839 — (15,102 ) (18,500 ) 2,216 — (16,284 ) Payment of lease liabilities — — (5,733 ) (5,733 ) — — (4,070 ) (4,070 ) Cash Flow generated from (used in) financing activities (22,209 ) (18,105 ) (195 ) (40,509 ) (28,596 ) (18,310 ) (43 ) (46,949 ) 1 In addition to the errors related to factoring and reverse factoring arrangements, this column includes an error related to the classification of interest paid on lease liabilities from financing into operating cash flows. 2 Certain reclassifications have been made to prior years Consolidated Statement of Cash Flows to conform to the current year presentation, which include the separate disclosure for payment of lease liabilities and presentation of cash flow to/from related parties regarding loans to such entities in investing activities. These reclassifications had no impact on previously reported loss for the years nor accumulated losses. For the six month period ending For the six month period ending As reported Restatement Adjustments (1) As restated As reported Restatement Adjustments (2) As restated Operating activities (Increase)/decrease in operating assets and liabilities: Trade and other payables 3,275 18,864 22,139 (15,584 ) 7,715 (7,869 ) Interest paid — (1,015 ) (1,015 ) (978 ) (978 ) Cash flow provided by (used in) operating activities (1,499 ) 17,849 16,350 27,440 6,737 34,177 Cash flow provided by (used in) investing activities (9,583 ) — (9,583 ) (6,467 ) — (6,467 ) Financing activities: Proceeds from borrowings 94,744 596 95,340 55,538 — 55,538 Payments on borrowings (56,640 ) (18,445 ) (75,085 ) (47,734 ) (6,737 ) (54,471 ) Cash Flow generated from (used in) financing activities 26,636 (17,849 ) 8,787 (6,162 ) (6,737 ) (12,899 ) (1) The restatement adjustment related to trade and other payables consist of errors related to reverse factoring of $17,549 thousand, factoring of $300 thousand and interest paid on lease liabilities of $1,015 thousand. (2) The restatement adjustment related to trade and other payables consist of errors related to reverse factoring of $6,737 thousand and interest paid on lease liabilities of $978 thousand.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of significant accounting policies [text block] [Abstract]
Schedule of useful lives of property, plant and equipment	Buildings 20 - 40 years Machinery and equipment 10 - 20 years Furniture and fixtures 2 - 10 years Other equipment 2 - 5 years
Schedule of useful lives are used to calculate amortization	Trademarks and sanitary records 3 – 20 years Licenses, customers and agreements 3 – 10 years Product development 3 years
Schedule of summary describes the operations of each reportable segment	Reportable segment Operations NextGel Manufacturing and distribution of prescription and over-the-counter pharmaceutical products in USA, Brazil and Colombia Procaps Colombia Manufacturing and distribution of prescription and over-the-counter pharmaceutical products in Colombia CAN Manufacturing and distribution of prescription and over-the-counter pharmaceutical products in Northern Central America: Salvador, Guatemala, Nicaragua and Honduras CASAND Manufacturing and distribution of prescription and over-the-counter pharmaceutical products in Southern Central America (Panama and Costa Rica) and the North Andes District (Ecuador, Peru and Bolivia) Diabetrics Diabetes solutions and chronic disease management tool

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of revenue [text block] [Abstract]
Schedule of primary geographical market and major products	Reportable segments Year 2021 NextGel Procaps Colombia CAN CASAND Diabetrics Corporate Total Segment revenue 244,791 156,820 67,842 68,242 47,835 — 585,530 Intra-segment revenue (123,964 ) (1,493 ) (16,905 ) (14,286 ) (19,140 ) — (175,788 ) Revenue from contracts with customers 120,827 155,327 50,937 53,956 28,695 — 409,742 Timing of revenue recognition Goods transferred at a point in time 117,190 155,327 50,937 53,956 28,695 — 406,105 Services transferred over time 3,637 — — — — — 3,637 Total revenue from contracts with customers 120,827 155,327 50,937 53,956 28,695 — 409,742 Reportable segments Year 2020 NextGel Procaps Colombia CAN CASAND Diabetrics Corporate Total Segment revenue 201,294 121,532 44,808 40,094 39,221 2,431 449,380 Intra-segment revenue (95,315 ) (6,637 ) 805 (1,538 ) (16,432 ) 1,204 (117,913 ) Revenue from contracts with customers 105,979 114,895 45,613 38,556 22,789 3,635 331,467 Timing of revenue recognition Goods transferred at a point in time 103,766 114,895 45,613 38,556 22,789 3,635 329,254 Services transferred over time 2,213 — — — — — 2,213 Total revenue from contracts with customers 105,979 114,895 45,613 38,556 22,789 3,635 331,467 Reportable segments Year 2019 NextGel Procaps Colombia CAN CASAND Diabetrics Corporate Total Segment revenue 192,247 124,090 54,628 42,332 36,931 11,637 461,865 Intra-segment revenue (94,958 ) (3,977 ) (4,949 ) (2,271 ) (14,703 ) (16,215 ) (137,073 ) Revenue from contracts with customers 97,289 120,113 49,679 40,061 22,228 (4,578 ) 324,792 Timing of revenue recognition Goods transferred at a point in time 94,964 112,279 49,679 40,061 22,228 (4,578 ) 314,633 Services transferred over time 2,325 7,834 — — — — 10,159 Total revenue from contracts with customers 97,289 120,113 49,679 40,061 22,228 (4,578 ) 324,792

Segment Reporting (Tables)

Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of entity's operating segments [text block] [Abstract]
Schedule of customer revenue recognition (external revenue)	NextGel Procaps Colombia CAN CASAND Year 2021 Total Inter- External Total Inter- External Total Inter- segment eliminations External Total Inter- segment eliminations External Revenue 244,791 (123,964 ) 120,827 156,820 (1,493 ) 155,327 67,842 (16,905 ) 50,937 68,242 (14,286 ) 53,956 Contribution margin 1 66,679 (12,573 ) 54,106 51,431 490 51,921 18,767 (231 ) 18,536 9,949 11,754 21,703 Diabetrics Corporate Total Year 2021 Total Inter- segment eliminations External Total Inter- segment eliminations External Total Inter- segment eliminations External Revenue 47,835 (19,140 ) 28,695 — — — 585,530 (175,788 ) 409,742 Contribution margin 1 6,981 (133 ) 6,848 89 (547 ) (458 ) 153,896 (1,240 ) 152,656 Administrative expenses — — — 82,187 — 82,187 82,187 — 82,187 Finance expenses — — — 78,636 — 78,636 78,636 — 78,636 Other expenses — — — 78,991 — 78,991 78,991 — 78,991 Income (loss) before tax (85,918 ) (1,240 ) (87,158 ) NextGel Procaps Colombia CAN CASAND Year 2020 Total Inter- segment eliminations External Total Inter- segment eliminations External Total Inter- segment eliminations External Total Inter- segment eliminations External Revenue 201,294 (95,315 ) 105,979 121,532 (6,637 ) 114,895 44,808 805 45,613 40,094 (1,538 ) 38,556 Contribution margin 1 52,679 (5,790 ) 46,889 43,926 (1,695 ) 42,231 9,197 6,324 15,521 9,001 813 9,814 Diabetrics Corporate Total Year 2020 Total Inter- segment eliminations External Total Inter- segment eliminations External Total Inter- segment eliminations External Revenue 39,221 (16,432 ) 22,789 2,431 1,204 3,635 449,380 (117,913 ) 331,467 Contribution margin 1 6,294 (807 ) 5,487 (10,157 ) 11,900 1,743 110,940 10,745 121,685 Administrative expenses — — — 58,631 — 58,631 58,631 — 58,631 Finance expenses — — — 54,489 — 54,489 54,489 — 54,489 Other expenses — — — 7,716 — 7,716 7,716 — 7,716 Income (loss) before tax (9,896 ) 10,745 849 NextGel Procaps Colombia CAN CASAND Year 2019 Total Inter- segment eliminations External Total Inter- segment eliminations External Total Inter- segment eliminations External Total Inter- segment eliminations External Revenue 192,247 (94,958 ) 97,289 124,090 (3,978 ) 120,112 54,628 (4,949 ) 49,679 42,332 (2,271 ) 40,061 Contribution margin 1 59,590 (20,394 ) 39,196 46,885 (9,465 ) 37,420 9,625 7,377 17,002 5,474 4,948 10,422 Diabetrics Corporate Total Year 2019 Total Inter- segment eliminations External Total Inter- segment eliminations External Total Inter- segment eliminations External Revenue 36,931 (14,703 ) 22,228 11,637 (16,215 ) (4,578 ) 461,865 (137,074 ) 324,791 Contribution margin 1 5,426 (580 ) 4,846 (8,847 ) (2,351 ) (11,198 ) 118,153 (20,465 ) 97,688 Administrative expenses — — — 60,257 — 60,257 60,257 — 60,257 Finance expenses — — — 42,983 — 42,983 42,983 — 42,983 Other expenses — — — 4,426 — 4,426 4,426 — 4,426 Income (loss) before tax 10,487 (20,465 ) (9,978 ) 1 Contribution margin is determined by subtracting sales and marketing expenses from gross profit. The Group’s customer revenue recognition (external revenue) policy has been consistent with inter-segment revenue generated.
Schedule of basis of geographical segments	2021 2020 2019 South America $ 284,068 $ 249,983 $ 241,654 Central America 72,188 58,082 63,812 North America 44,857 12,576 15,202 Europe 8,629 10,826 4,124 Total $ 409,742 $ 331,467 $ 324,792

Finance Expenses, Net (Tables)

Finance Expenses, Net (Tables)	12 Months Ended
	Dec. 31, 2021
Finance Expenses, Net [Abstract]
Schedule of finance expenses, net	As of December 31 2021 2020 2019 Banking expenses $ 1,056 $ 590 $ 428 Bank fees 2,263 986 855 Other financial expenses 354 281 157 Net fair value gain of warrant liabilities (5,851 ) — — Net fair value gain of shares held in escrow (4,506 ) — — Interest expense 85,320 52,632 41,543 Total $ 78,636 $ 54,489 $ 42,983

Other Expenses, Net (Tables)

Other Expenses, Net (Tables)	12 Months Ended
	Dec. 31, 2021
Other expenses, net [Abstract]
Schedule of other expenses, net	As of December 31 2021 2020 2019 Currency exchange rate differences $ 4,026 $ 3,905 $ 1,827 Economic emergency contribution expenses 1,385 811 796 Fines, surcharges, penalties and taxes assumed 775 1,440 1,426 Donations 720 716 650 Listing expense (a) 73,917 — — Other (1,832 ) 844 (273 ) Total 78,991 7,716 4,426 (a) Corresponds to the difference between the fair value of the net assets received through the SPAC and the value of the equity interest issued, adjusted by dilutive effect of shares held in escrow at a weighted average fair value per share. Refer to Note 26.1. Reverse reorganization for further information related to the Transaction.

Income Tax (Tables)

Income Tax (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of income tax [text block] [Abstract]
Schedule of tax losses and excess	As of December 31 2021 2020 2019 Current year 12,250 7,491 8,118 Current tax expense 12,250 7,491 8,118 Origination and reversal of temporary differences 1,455 3,805 (1,083 ) Deferred tax expense 1,455 3,805 (1,083 ) Total tax expense 13,705 11,296 7,035
Schedule of tax losses and excess	As of December 31 2021 2020 2019 Profit/ (loss) before tax (87,158 ) 849 (9,978 ) Income tax (benefit)/expense (14,817 ) 297 (3,492 ) Tax effect of expenses that are not deductible in determining taxable profit 49,442 13,525 8,289 Tax effect of income not taxable in determining taxable profit (8,822 ) (7,754 ) (10,550 ) Effect of different tax rates of subsidiaries operating in other jurisdictions (9,423 ) 1,960 160 Others - Includes exchange effects for reversal rates of long-term temporary differences, income taxed at differential rates, effects of change in deferred tax rate and tax discounts (2,675 ) 3,200 12,343 Tax effect of utilization of tax losses not previously recognized — 68 285 Tax expense for the year 13,705 11,296 7,035
Schedule of current tax assets and current tax liabilities	As of December 31 Current tax assets 2021 2020 Income Tax Advance 6,081 1,070 Income Tax Withholding — 5,880 Surplus in Private Liquidation 15,732 8,839 Other Tax Assets 269 985 Total 22,082 16,774 Current tax liabilities Income Tax Withholding (8,982 ) (4,690 ) Income Tax Payable (2,652 ) (4,296 ) Other Tax Liabilities (122 ) (407 ) Total (11,756 ) (9,393 )
Schedule of tax losses and excess	As of December 31 2021 2020 Tax Losses not utilized 3,242 2 Tax Credits not utilized — 257 Total 3,242 259

Goodwill (Tables)

Goodwill (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of goodwill [text block] [Abstract]
Schedule of goodwill	As of December 31 2021 2020 Balance at beginning of the year/period $ 6,863 $ 7,020 Effect of movements in foreign exchange (60 ) (157 ) Balance at end of the year/period $ 6,803 $ 6,863
Schedule of allocation of goodwill	2021 2020 Procaps S.A. de C.V (previously Laboratorios Lopez S.A. de C.V.) $ 549 $ 549 Biokemical S.A. de C.V. 5,242 5,241 Rymco S.A. 1,012 1,073 $ 6,803 $ 6,863

Intangible assets (Tables)

Intangible assets (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of intangible assets [text block] [Abstract]
Schedule of intangible assets	Cost Trademarks Licenses, Product Total Balance as of January 1, 2020 10,908 17,719 10,514 39,141 Additions 24 1,130 — 1,154 Additions from internal developments 421 970 7,674 9,065 Derecognition of assets — (162 ) — (162 ) Foreign currency exchange 88 (748 ) 84 (576 ) Reclassifications 1,735 (1,735 ) — — Balance as of December 31, 2020 13,176 17,174 18,272 48,622 Additions 1,672 755 — 2,427 Additions from internal developments — — 7,976 7,976 Derecognition of assets — (7 ) — (7 ) Foreign currency exchange (631 ) (1,475 ) (2,986 ) (5,092 ) Reclassifications and others 489 (512 ) 23 — Balance as of December 31, 2021 14,706 15,935 23,285 53,926 Accumulated amortization Trademarks Licenses, Product Total Balance as of January 1, 2020 2,146 12,370 1,424 15,940 Amortization expense 1,310 1,633 3,036 5,979 Foreign currency exchange 25 (1,235 ) 330 (880 ) Balance as of December 31, 2020 3,481 12,768 4,790 21,039 Amortization expense 787 965 3,064 4,816 Derecognition of assets — (7 ) — (7 ) Foreign currency exchange (277 ) (976 ) (840 ) (2,093 ) Reclassifications and others 241 (237 ) (4 ) — Balance as of December 31, 2021 4,232 12,513 7,010 23,755 As of December 31, 2020 Net book value 9,695 4,406 13,482 27,583 As of December 31, 2021 Net book value 10,474 3,422 16,275 30,171

Property, plant and equipment_2

Property, plant and equipment, net (Tables)	12 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment, Net [Abstract]
Schedule of property, plant and equipment, net	Cost Land and Machinery and Projects in Other 1 Total Balance as of January 1, 2020 28,111 69,511 8,444 8,537 114,603 Additions 32 1,419 5,118 1,130 7,699 Disposals (274 ) (527 ) — (55 ) (856 ) Effect of exchange differences in foreign currency (1,567 ) (4,159 ) (272 ) (157 ) (6,155 ) Reclassification between categories 517 3,420 (3,960 ) 23 — Balance as of December 31, 2020 26,819 69,664 9,330 9,478 115,291 Additions 487 4,764 10,019 167 15,437 Disposals (289 ) (350 ) — (15 ) (654 ) Effect of exchange differences in foreign currency (1,180 ) (8,930 ) (1,130 ) (515 ) (11,755 ) Reclassifications and others 4,482 6,518 (7,578 ) (5,087 ) (1,665 ) Balance as of December 31, 2021 30,319 71,666 10,641 4,028 116,654 Accumulated depreciation Land and Machinery and Projects in Other 1 Total Balance as of January 1, 2020 7,323 29,011 — 3,354 39,688 Disposals — (82 ) — (7 ) (89 ) Depreciation expense 861 4,061 — 978 5,900 Effect of exchange differences in foreign currency (113 ) (366 ) — (64 ) (543 ) Balance as of December 31, 2020 8,071 32,624 — 4,261 44,956 Disposals (70 ) (91 ) — (16 ) (177 ) Depreciation expense 871 4,653 — 548 6,072 Effect of exchange differences in foreign currency (328 ) (3,743 ) — (472 ) (4,543 ) Reclassifications and others (907 ) (587 ) — (798 ) (2,292 ) Balance as of December 31, 2021 7,637 32,856 — 3,523 44,016 As of December 31, 2020 Net book value 18,748 37,040 9,330 5,217 70,335 As of December 31, 2021 Net book value 22,682 38,810 10,641 505 72,638 1 Other’ includes computer equipment and other office furniture and equipment.

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of leases [text block] [Abstract]
Schedule of reconciliation of asset balances	Land and Equipment Vehicles Computers Total Balance as of January 1, 2020 30,874 6,609 79 734 38,296 Addition to right-of-use asset 8,543 1,415 (12 ) 1,076 11,022 Depreciation (3,345 ) (744 ) (34 ) (475 ) (4,598 ) Effect of changes in foreign exchange rates (1,186 ) (305 ) (1 ) (33 ) (1,525 ) Balance as of December 31, 2020 34,886 6,975 32 1,302 43,195 Addition to right-of-use asset 6,573 709 — — 7,282 Depreciation (3,311 ) (463 ) — (449 ) (4,223 ) Derecognition of contracts (126 ) (58 ) — (86 ) (270 ) Reclassifications and others 559 (1,155 ) (32 ) — (628 ) Effect of changes in foreign exchange rates (4,188 ) (932 ) — (69 ) (5,189 ) Balance as of December 31, 2021 34,393 5,076 — 698 40,167
Schedule of group’s lease liabilities are guaranteed by the lessor’s title to the leased assets	2021 2020 Non-current 21,894 26,537 Current $ 9,853 10,262 Total $ 31,747 $ 36,799
Schedule of consolidated statement of profit or loss	For the year ended 2021 2020 Interest on lease liabilities 720 601 Expense relating to low value assets 123 668 Expense relating to short term leases 1,217 828

Investment in joint ventures (T

Investment in joint ventures (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of joint ventures [text block] [Abstract]
Schedule of investment in joint ventures	Name of joint venture Principal activity Place of Proportion of ownership interest and As of December 31, As of December 31, Promedical S.A. Marketing and pharmaceuticals Santa Cruz de la Sierra, Bolivia 50 % 50 %
Schedule of financial information of joint venture	As of As of Current assets 10,324 11,672 Non-current assets 3,136 2,551 Current liabilities 6,231 5,899 Non-current liabilities 795 1,890 Equity 6,434 6,434 Revenue 23,704 19,428 Profit/(loss) for the year 1,423 1,612 Total comprehensive income 1,423 1,612
Schedule of carrying amount of the company’s interest in Promedical S.A	As of As of Net assets of Promedical S.A. 6,434 6,434 Proportion of the Company’s ownership interest in Promedical S.A. 3,217 3,217 Other adjustments (774 ) (757 ) Carrying amount of the Company’s interest in Promedical S.A. 2,443 2,460

Inventories, Net (Tables)

Inventories, Net (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of inventories [text block] [Abstract]
Schedule of inventories, net	2021 2020 Raw materials and supplies $ 38,024 $ 30,198 Products in process 6,240 5,960 Finished products and merchandise 31,791 27,886 Inventory in transit 9,645 5,374 Subtotal 85,700 69,418 Less: Provision (6,270 ) (5,134 ) Total $ 79,430 $ 64,284

Trade and other receivables, _2

Trade and other receivables, net (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of trade and other receivables [text block] [Abstract]
Schedule of trade and other receivables, net	For the year ended 2021 2020 Trade receivables, net of discounts 1 $ 111,071 $ 95,819 Impairment of trade receivables (8,755 ) (9,573 ) Other receivables 15,132 10,247 Trade receivables, net of discounts and impairment $ 117,449 $ 96,493 1 Discount and return provision amounts to $7,345 (2020: $3,878).

Borrowings (Tables)

Borrowings (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of borrowings [text block] [Abstract]
Schedule of unsecured borrowings at amortized cost	2020 2019 2021 Restated Restated Unsecured borrowings at amortized cost Syndicated term loan (1) $ 46,505 $ 81,906 $ 88,781 Other term loan (2) 51,593 85,645 75,008 Lease liabilities (3) 31,747 36,799 29,794 Factoring obligations (4) 10,609 9,993 11,927 Put option agreement (5) — 239,273 211,880 Bank overdrafts (6) 55 902 3,047 Notes (7) 112,857 — — Total Interest bearing liabilities $ 253,366 $ 454,518 $ 420,437 Current 74,646 114,780 99,975 Non- Current $ 178,720 339,738 320,462
Schedule of borrowings	Currency Range of Maturity 2021 2020 2019 Syndicated term loan COP IBR+ 5.3% (Variable) 2025 $ 39,521 51,970 $ 57,492 Syndicated term loan USD Libor+ 4.8% (Variable) 2025 7,850 31,150 $ 32,900 Amortized cost COP N/A 2025 (866 ) (1,214 ) (1,611 ) Total Syndicated term loan 46,505 81,906 $ 88,781 Currency Range of Interest Maturity Year 2021 2020 2019 Other term loan COP IBR+ 2.25%-5.0% (Variable) 2022-2024 9,442 12,205 9,939 COP DTF + 6.74% 2022 3,154 6,161 6,904 COP 24% (Fixed) 2021 — 1,296 12 SOL 5.00% - 10.01% (Fixed) 2021-2024 5,953 7,499 4,392 REAIS 9.84% - 13.08% (Fixed) 2021-2024 1,762 7,436 1,633 USD Libor + 4.49% 2022 739 — — USD Libor + 2.99% / 6.5% - 2022-2024 16,145 40,808 43,827 COP 10.00% -30.00% 2022 14,398 10,240 8,301 Total Other term loans 51,593 85,645 75,008 Currency Range of Interest Maturity 2021 2020 2019 Lease liabilities COP DTF +5.18% - DTF 2030 10,334 15,945 15,164 COP DTF+ 4.54% + DTF 8.5%T.A. + DTF+10.42% 2025 6,662 7,524 6,930 COP DTF+17% / (DTF+13.72%) 2022 — 676 706 USD 14.70% E.A. 2023 — 740 — USD 9.28% T.A. 2022 — 86 247 USD 9.75% N.M. 2021 — 103 — COP 8.29% - 21.48% E.A. 2027 14,689 11,591 6,422 Reales 1.68% (Fixed) 2022 62 134 325 Total Lease liabilities 31,747 36,799 29,794 Currency Range of Interest Maturity 2021 2020 2019 Portfolio factoring COP DTF+8% / 24.6% 2022 1,383 8,074 4,731 Reales 12% (Fixed) 2021 — — 5,679 COP DTF+8% / 24.6% (Fixed) 2022 9,226 1,919 1,517 Total Factoring 10,609 9,993 11,927 Currency Range of Interest Maturity 2021 2020 2019 IFC USD 12 % 2028 — 127,821 112,263 Hoche USD 12 % 2028 — 111,452 99,617 Total Put option — 239,273 211,880 Currency Range of Interest Maturity 2021 2020 2019 Overdrafts and credit cards COP 19.68% - 32% E.A. 2022 55 902 3,047 Currency Range of Interest Maturity Year 2021 2020 2019 The Prudential Insurance Company of America USD 4.75% (Fixed) 2031 $ 58,906 — — Prudential Annuities Life Assurance Corporation USD 4.75% (Fixed) 2031 29,423 — — Healthspring Life & Health Insurance Company, Inc USD 4.75% (Fixed) 2031 18,007 — — CIGNA Health and Life Insurance Company USD 4.75% (Fixed) 2031 6,521 — — Total Senior Notes 112,857 — —
Schedule of reconciliation of liabilities from financing activities	January 1, Payment cash flows New 1 Other 2 December 31, Syndicated term loan 81,906 (28,239 ) — (7,162 ) 46,505 Other term loan 85,645 (224,380 ) 193,120 (2,792 ) 51,593 Lease liabilities 36,799 (8,854 ) 7,283 (3,481 ) 31,747 Factoring obligations 9,993 (18,779 ) 22,956 (3,561 ) 10,609 Put option agreement 239,273 — — (239,273 ) — Bank overdrafts 902 (903 ) — 56 55 Senior Notes — — 112,857 — 112,857 Total liabilities from financing activities 454,518 (281,155 ) 336,216 (256,213 ) 253,366 January 1, Payment New 1 Other 2 December 31, Syndicated term loan 88,781 (4,670 ) — (2,205 ) 81,906 Other term loan 75,008 (76,942 ) 94,122 (6,543 ) 85,645 Lease liabilities 29,794 (5,733 ) 11,022 1,716 36,799 Factoring obligations 11,927 (38,953 ) 35,040 1,979 9,993 Put option agreement 211,880 — — 27,393 239,273 Bank overdrafts 3,047 (21 ) — (2,124 ) 902 Total liabilities from financing activities 420,437 (126,319 ) 140,184 20,216 454,518 January 1, Payment New Other December 31, Syndicated term loan 94,919 (5,770 ) — 368 88,781 Other term loan 66,773 (75,235 ) 80,859 2,611 75,008 Lease liabilities 30,843 (4,070 ) 5,335 (2,314 ) 29,794 Factoring obligations 12,807 (37,412 ) 38,019 (1,487 ) 11,927 Put option agreement 98,599 — 99,616 13,665 211,880 Bank overdrafts 1,236 — — 1,811 3,047 Total liabilities from financing activities 305,177 (122,487 ) 223,829 13,918 420,437

Deferred tax (Tables)

Deferred tax (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of deferred taxes [text block] [Abstract]
Schedule of deferred tax assets and liabilities by type of temporary	As of December 31 2021 2020 Net deferred tax asset (liability) Trade and other receivables (1,357 ) (3,301 ) Inventories 3,142 1,735 Property, plant and equipment (3,486 ) (6,817 ) Intangibles (875 ) (634 ) Borrowings and Trade and other payables 3,639 3,071 Provisions and Other liabilities 1,005 737 Others (1,071 ) 8,088 Total net deferred tax asset (liability) 997 2,879
Schedule of deferred tax assets and liabilities	As of December 31 2021 2020 Deferred Tax Asset 7,067 21,769 Deferred Tax Liability (6,070 ) (18,890 ) Net Deferred Tax Asset (Liability) 997 2,879
Schedule of deferred tax	As of December 31 2021 2020 2019 Balance as on January 1 2,879 8,556 7,396 Recognized in Profit and Loss (1,455 ) (3,805 ) 1,083 Recognized in Other Comprehensive Income 1 (58 ) 16 (43 ) Others 2 (369 ) (1,888 ) 120 Balance as of December 31 997 2,879 8,556 1 Deferred tax related to employee defined benefit plans. 2 Deferred tax related to the purchase price acquisition of intangible assets in Procaps S.A. de C.V. (previously Laboratorios Lopez S.A. de C.V.).

Trade and Other Payables, Net (

Trade and Other Payables, Net (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of trade and other payables [text block] [Abstract]
Schedule of trade and other payables, net	As of December 31 2020 2019 2021 Restated Restated Trade payables $ 70,167 $ 84,480 $ 94,207 Other payables Trade current accounts 3,259 4,430 4,277 Interest payable 1,870 2,236 1,525 Withholdings and payroll contributions 6,619 2,831 3,243 Others 3,466 139 1,356 Total other payables 15,214 9,636 10,401 Total accounts payable $ 85,381 $ 94,116 $ 104,608

Provisions and contingencies (T

Provisions and contingencies (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of other provisions, contingent liabilities and contingent assets [text block] [Abstract]
Schedule of provisions and contingencies	2021 2020 2019 Contingencies Balance as of January 1 $ 1,829 $ 2,276 $ 2,379 Effect of changes in foreign exchange rates (209 ) (387 ) (77 ) Provisions made — 761 12 Provisions used (1,119 ) (821 ) (38 ) Balance as of December 31 $ 501 $ 1,829 $ 2,276

Shareholder's equity (Tables)

Shareholder's equity (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of share capital, reserves and other equity interest [text block] [Abstract]
Schedule of reconciliation of share capital and share premium	Ordinary authorized and issued shares Number of Share capital amount Share premium As of January 1, 2019 pre-restructuring 2,493,391 2,493 120,151 Issuance of put option with Hoche (492,320 ) (492 ) (65,739 ) Subtotal 2,001,071 2,001 54,412 Capital restructuring of Crynssen (1:33.4448 exchange ratio) (b) 64,924,413 (1,332 ) 1,332 As of December 31, 2019 restructured 66,925,484 669 55,744 — — — As of January 1, 2020 pre-restructuring 2,001,071 2,001 54,412 Capital restructuring of Crynssen (1:33.4448 exchange ratio) (b) 64,924,413 (1,332 ) 1,332 As of December 31, 2020 restructured 66,925,484 669 55,744 — — — As of January 1, 2021 pre-restructuring 2,001,071 2,001 54,412 Termination of put option agreements (a) 903,075 903 297,796 Subtotal 2,904,146 2,904 352,208 Capital restructuring of Crynssen (1:33.4448 exchange ratio) (b) 94,224,544 (1,933 ) 1,933 Subtotal - restructured 97,128,690 971 354,141 Acquisition of Union Acquisition Corp. II (c) 20,195,494 202 174,738 Escrowed shares (d) (11,714,612 ) (117 ) (106,247 ) Redemption of redeemable shares (e) (4,500,000 ) (45 ) (44,955 ) As of December 31, 2021 101,109,572 1,011 377,677 a. On the effectiveness of the Transaction, September 29, 2021, the put option agreements were terminated in exchange for new equity instruments in Procaps Group SA. b. On completion of the Transaction, each of the OpCo Shareholders, contributed its respective OpCo Ordinary Shares to Holdco in exchange for Holdco Ordinary Shares, and, in the case of IFC for Holdco Ordinary Shares and 4,500,000 Holdco Redeemable B Shares, subscribed for by each OpCo Shareholder. The OpCo Shareholders were issued 97,128,690 new shares in the Company (92,628,689 Holdco Ordinary Shares and 4,500,000 Holdco Redeemable B Shares) in exchange of the 2,904,146 outstanding OpCO ordinary Shares. The resultant share exchange ratio being 33.4448. c. SPAC Ordinary Shares outstanding (including those held by the PIPE Investors and Union Group International Holdings Limited and Union Acquisition Associates II, LLC (the “SPAC Sponsors”) were exchanged with Holdco for Holdco Ordinary Shares pursuant to a share capital increase of Holdco. d . 1,250,000 Holdco Ordinary Shares issued to the SPAC Sponsors and 10,464,612 Holdco Ordinary Shares issued to certain Opco Shareholders in connection with the Transaction are subject to an escrow arrangement that is applicable to both SPAC Sponsors and to such OpCo Shareholders. On September 29, 2021, considering that the condition to deliver a fixed number of shares for a consideration that is settled in One’s own equity instruments is not met for the 11,714,612 Holdco Ordinary Shares issued to the SPAC Sponsors and certain Opco Shareholders, the escrow shares were classified as a financial liability with changes in fair value through profit and loss. As of December 31, 2021 shares to be delivered are presented at fair value as non-current liabilities for the amount of $101,859, representing a decrease of $4,506 recognized in Finance expenses, net. e. Immediately following the Exchange, the Company redeemed 4,500,000 Holdco Redeemable B from IFC for a total purchase price of $45,000 in accordance with that certain share redemption agreement entered into by and between the Company and IFC on March 31, 2021, and subsequently amended on September 29, 2021.
Schedule of aggregate subscription price	Number of Aggregate Public shares 5,895,494 58,955 Founder shares 4,300,000 43,000 PIPE Shares 10,000,000 100,000 20,195,494 201,955
Schedule of cost-basis of the exchange reflects	Share SPAC net assets 131,086 Transactions costs (30,063 ) IFRS 2 Share-based payment expense 73,917 Share Capital issued (202 ) 174,738
Schedule of reserves	As of December 31 2021 2020 2019 Legal 1 $ 4,892 $ 4,892 $ 4,892 Working Capital 2 37,857 35,005 23,789 $ 42,749 $ 39,897 $ 28,681 2021 2020 2019 Balance as of January 1 $ 39,897 $ 28,681 $ 28,322 Increase in legal reserves — — 31 Increase in working capital reserves 2,852 11,216 328 Balance as of December 31 $ 42,749 $ 39,897 $ 28,681 1 Legal Reserve - 2 Reserves for working capital –

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of earnings per share [text block] [Abstract]
Schedule of weighted average number of shares considers the ordinary shares	2021 2020 2019 Net loss of the year (100,863 ) (10,447 ) (17,013 ) Number of ordinary shares issued at December 31* 101,110 97,129 97,129 Weighted average basic number of ordinary shares 98,143 97,129 97,129 Assumed exercise of share equivalents — — — Weighted average diluted number of shares 98,143 97,129 97,129 Basic and diluted loss per share in the year (1.03 ) (0.11 ) (0.18 ) * Includes 903,075 shares held under put option before the transaction as such ordinary shareholders were entitled to receive dividends.

Warrant Liabilities (Tables)

Warrant Liabilities (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure Of Warrant Liability Explanatory [Abstract]
Schedule of warrant liability	As of December 31 2021 2020 2019 Public warrants $ 16,000 $ — $ — Private warrants 1 7,112 — — $ 23,112 $ — $ — 1 Private warrants include 2,875,000 held by the former SPAC sponsors deposited in an escrow account.
Schedule of public warrants	2021 2020 2019 As of January 1 $ — $ — $ — Acquired public warrants $ 21,600 $ — $ — Warrants exercised $ — $ — $ — Fair value remeasurement $ (5,600 ) $ — $ — As of December 31 $ 16,000 $ — $ —
Schedule of private warrants	2021 2020 2019 As of January 1 $ — $ — $ — Acquired private warrants $ 7,363 $ — $ — Fair value remeasurement $ (251 ) $ — $ — As of December 31 $ 7,112 $ — $ —

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure Of Asset Acquisition Explanatory [Abstract]
Schedule of assets and liabilities	(Amount in thousands) 2021 Cash held in trust $ 138,046 Cash and cash equivalents $ 100,000 Redemption liability $ (77,997 ) Warrants liability $ (28,963 ) Total SPAC identifiable net assets at fair value $ 131,086
Schedule of transactions value of equity interest	After Redemption Step 1 - Deemed cost of shares issued Fair value of OpCo $ 926,287 Equity interest in Holdco issued to SPAC shareholders & PIPE investors 19 % Equity interest in Holdco of Selling shareholders 81 % Deemed costs of shares issued* $ 213,584 SPAC identifiable net assets at fair value $ 131,086 Deemed cost of shares issued $ 82,498 Step 2 - Dilutive impact of shares held in escrow Dilutive effect of 945,036 shares held in escrow at a weighted average fair value per share of $9.08 $ 8,581 Step 3 - IFRS 2 ‘listing expense’ $ 73,917 * The deem cost of the shares was estimated based on the fair value of the OpCo issued shares (legacy Crynssen Pharma Group Limited) prior to the merger with SPAC and Holdco.
Schedule of estimated fair values	(Amount in thousands) 2021 Property, Plant and Equipment $ 1,487 Inventories $ 133 Other receivables $ 193 Right of Use Assets $ 4,533 Lease Liabilities $ (4,533 ) Total $ 1,813

Financial Instruments (Tables)

Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of financial instruments [text block] [Abstract]
Schedule of carrying amounts of financial assets and financial liabilities	As of December 31, 2021 As of December 31, 2020 FVTPL 1 Amortized 2 FVTPL Amortized 2 Financial assets not measured at fair value Trade and other receivables, net — 117,449 — 96,493 Amounts owed by related parties — — — 2,562 Cash — 72,112 — 4,229 Other financial assets — 256 — 761 Total financial assets not measured at fair value — 189,817 — 104,045 Financial liabilities measured at fair value Warrant liabilities 23,112 — — — Shares held in escrow 101,859 — — — Total financial liabilities measured at fair value 124,971 — — — Financial liabilities not measured at fair value Borrowings — 253,365 — 442,359 Trade and other payables, net — 85,381 — 106,275 Amounts owed to related parties — 8,450 — 20,622 Total financial liabilities not measured at fair value — 347,196 — 569,256 1 The fair value is comprised of $16,000 level 1 and $108,971 level 3 as of December 31, 2021. 2 The fair value is similar to their amortized cost as of December 31, 2021 and 2020, respectively.
Schedule of valuation techniques used in measuring Level 3 fair values for financial instruments in the statement of financial position	Type Valuation Technique Significant Inter-relationship between Warrants The fair value of the Private Warrants is estimated using the Black-Scholes option pricing formula for European calls, since the underlying stock is not expected to pay dividends over the term of the Warrants. Volatility The estimated fair value would increase (decrease) if the expected volatility were higher (lower). Shares held in escrow The fair value of the shares to be delivered is estimated using Monte Carlo simulation in a risk-neutral framework assuming a Geometric Brownian Motion for the future stock price. Volatility The estimated fair value would increase (decrease) if the expected volatility were higher (lower).
Schedule of assessment of the probability of default and the loss due to default is mainly based on historical data and adjust historical loss rates	December 31, 2021 Current 1-30 days 31-60 61-90 91-120 More than Total Weighted-average loss rate 0.60 % 2.11 % 2.35 % 3.38 % 3.26 % 67.43 % 14.67 % Gross carrying amount 98,776 11,265 3,147 1,981 1,843 30,578 147,590 Impairment loss allowance (591 ) (238 ) (74 ) (67 ) (60 ) (20,620 ) (21,650 ) 98,185 11,027 3,073 1,914 1,783 9,958 125,940 December 31, 2020 Current 1-30 days 31-60 61-90 91-120 More than Total Weighted-average loss rate 0.53 % 2.59 % 2.81 % 5.82 % 14.78 % 59.77 % 9.60 % Gross carrying amount 74,639 5,216 2,958 1,754 406 14,724 99,697 Impairment loss allowance (393 ) (135 ) (83 ) (102 ) (60 ) (8,800 ) (9,573 ) 74,246 5,081 2,875 1,652 346 5,924 90,124 December 31, 2019 Current 1-30 days 31-60 61-90 91-120 More than Total Weighted-average loss rate 0.68 % 1.98 % 2.49 % 4.36 % 5.10 % 80.12 % 10.99 % Gross carrying amount 69,478 13,584 4,989 2,224 1,176 13,061 104,512 Impairment loss allowance (474 ) (269 ) (124 ) (97 ) (60 ) (10,464 ) (11,488 ) 69,004 13,315 4,865 2,127 1,116 2,597 93,024
Schedule of carrying amounts of the group’s foreign currency denominated monetary assets and monetary liabilities	Assets Liabilities 2021 2020 2019 2021 2020 2019 COP 124,545 100,077 92,849 (99,371 ) (124,957 ) (99,880 ) Reales 7,002 4,808 6,700 (9,125 ) (5,385 ) (2,978 ) Córdoba — — 2,719 — — (2,600 ) Quetzales 1,946 90 1,558 (4,115 ) — (4,805 ) Soles 7,024 5,249 4,819 — (8,564 ) (6,928 ) DOP 809 817 — (2,869 ) (3,093 ) — Colones 1,270 1,234 — (2,371 ) (2,410 ) — +10% Impact to profit or loss before tax -10% Impact to profit or loss before tax 2021 2020 2019 2021 2020 2019 COP (2,289 ) 2,262 639 2,797 (2,764 ) (781 ) Reales 193 52 (338 ) (236 ) (64 ) 414 Córdoba — — (11 ) — — 13 Quetzales 197 (8 ) 295 (241 ) 10 (361 ) Soles (639 ) 301 192 781 (368 ) (234 ) DOP 187 207 — (229 ) (253 ) — Colones 100 107 — (122 ) (131 ) —
Schedule of sensitivity analyzes have been determined based on exposure of financial liabilities to the highlighted variable interest rates	2021 2020 2019 Carrying +1% -1% Carrying +1% -1% Carrying +1% -1% DTF/IBR 67,970 68,650 67,290 105,039 106,089 103,989 91,443 92,357 90,529 Libor 19,451 19,646 19,256 45,301 45,754 44,848 51,244 51,756 50,732 Total 87,421 88,296 86,546 150,340 151,843 148,837 142,687 144,113 141,261
Schedule of balances of other financial liabilities such as suppliers and accounts payable have no financial cost and their payment period ranges	As of December 31, 2021 Carrying Contractual Less than 1-2 years 2-3 years 3-5 years More Non-derivative financial liabilities Borrowings 221,619 253,011 71,987 16,895 15,330 20,323 128,476 Trade and other payables 85,381 85,381 85,381 — — — — Lease liabilities 31,747 39,904 9,853 7,403 5,333 8,314 9,001 Amounts owed to related parties 8,450 8,450 8,450 — — — — 347,197 386,746 175,671 24,298 20,663 28,637 137,477 As of December 31, 2020 Carrying Contractual Less than 1-2 years 2-3 years 3-5 years More Non-derivative financial liabilities Borrowings 417,719 628,874 114,214 65,966 447,035 1,103 556 Trade and other payables 94,116 94,116 94,116 — — — — Lease liabilities 36,799 39,571 11,392 12,963 6,759 3,441 5,016 Amounts owed to related parties 20,622 20,622 8,459 12,163 — — — 569,256 783,183 228,181 91,092 453,794 4,544 5,572
Schedule of indebtedness index for the reporting period	2021 2020 2019 Total assets 1 462,135 359,538 337,728 Total liabilities 2 500,475 614,216 581,675 Liabilities to assets ratio 1.08 1.71 1.72 1 Defined as short-term assets plus long-term assets 2 Defined as short-term liabilities plus long-term liabilities

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of related party [text block] [Abstract]
Schedule of transactions with joint ventures	For the year ended 2021 2020 2019 Sale of finished products 3,825 3,757 3,240 Revenue from services and consulting 116 87 222 Purchases of raw materials and other services 10,240 11,339 11,401
Schedule of outstanding at the reporting date	For the year ended 2021 2020 Amounts owed by related parties, net 1,147 2,562
Schedule of corresponding exchange differences	For the year ended 2021 2020 Amounts owed to related parties 1,335 4,778 Loans owed to related parties 7,115 15,844 Amounts owed to related parties 8,450 20,622 Current 8,450 8,459 Non-current — 12,163
Schedule of loans to and from related parties	Loans to related parties 2021 2020 2019 Balance as of January 1 $ 304 $ 499 $ 542 Loans advanced — — 289 Loan repayments received (28 ) (195 ) (332 ) Balance as of December 31 $ 276 $ 304 $ 499 Loans from related parties 2021 2020 2019 Balance as of January 1 $ 15,844 $ 20,963 $ 24,557 Loans advanced — 32 — Loan repayments (9,154 ) (5,856 ) (4,570 ) Interest accrued 425 705 976 Balance as of December 31 $ 7,115 $ 15,844 $ 20,963
Schedule of consolidated statement of profit or loss	For the year ended 2021 2020 Short-term employee benefits $ 3,359 $ 2,617 Consulting fees 1,912 100 $ 5,271 $ 2,717

General Company Information (De

General Company Information (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2021
General Company Information (Details) [Line Items]
Aggregate of ordinary shares (in Shares)	10,000,000
Ordinary shares, par value (in Dollars per share)	$ 0.0001
Purchase price per share (in Dollars per share)	$ 10
Aggregate purchase price	$ 100,000,000
Redeemed price		$ 4,500,000
Redeemable purchase price	$ 45,000,000	45,000,000
Annual gross revenue		1,070,000,000
Non-affiliates exceeds		700,000,000
Non convertible debt securities		1,000,000,000
Holdco Ordinary Shares [Member]
General Company Information (Details) [Line Items]
Nominal value per share (in Dollars per share)	$ 0.01
Redeemable ordinary shares		$ 4,500,000
Opco Shareholders [Member]
General Company Information (Details) [Line Items]
Nominal value per share (in Dollars per share)		$ 1
Holdco Redeemable B Shares [Member]
General Company Information (Details) [Line Items]
Nominal value per share (in Dollars per share)		$ 0.01

General Company Information (_2

General Company Information (Details) - Schedule group’s principal subsidiaries	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Procaps S.A. [Member]
General Company Information (Details) - Schedule group’s principal subsidiaries [Line Items]
Place of business/country of incorporation			Colombia
Percentage of Ownership Interests	100.00%	100.00%	100.00%
Percentage of Non-controlling interests
Principal activities			Manufacturing and distribution of prescription and over-the-counter pharmaceutical products.
C.I. Procaps S.A. [Member]
General Company Information (Details) - Schedule group’s principal subsidiaries [Line Items]
Place of business/country of incorporation			Colombia
Percentage of Ownership Interests	100.00%	100.00%	100.00%
Percentage of Non-controlling interests
Procaps S.A. de C.V (previously Laboratorios Lopez S.A. de C.V.) [Member]
General Company Information (Details) - Schedule group’s principal subsidiaries [Line Items]
Place of business/country of incorporation			El Salvador
Percentage of Ownership Interests	100.00%	100.00%	100.00%
Percentage of Non-controlling interests
Softcaps - Colbras [Member]
General Company Information (Details) - Schedule group’s principal subsidiaries [Line Items]
Place of business/country of incorporation			Brazil
Percentage of Ownership Interests	100.00%	100.00%	100.00%
Percentage of Non-controlling interests
Diabetrics Healthcare S.A.S. [Member]
General Company Information (Details) - Schedule group’s principal subsidiaries [Line Items]
Place of business/country of incorporation			Colombia
Percentage of Ownership Interests	100.00%	100.00%	100.00%
Percentage of Non-controlling interests
Principal activities			Diabetes solutions and chronic disease management tool.

Basis of Preparation and Acco_3

Basis of Preparation and Accounting (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2021	Dec. 31, 2020		Dec. 31, 2019		Dec. 31, 2018
Basis of Preparation and Accounting (Details) [Line Items]
Equity			$ (38,340)	$ (254,678)	[1]	$ (243,947)	[1]	$ (127,670)
Negative equity				254,678		243,947
Incurred loss			(100,863)	(10,447)	[2]	(17,013)	[2]
Cash in operating activities			37,303	70,920		68,286
Changes in working capital			$ 110,095	54,926		76,028
Principal place of business of joint venture			24%
Net tangible assets			$ 160,049
Cash			72,112	4,229		2,042
Issuance of senior notes			115,000
Early repayment			$ 102,000
Grace period			2027 years
Factoring arrangements amount	$ 3,808			1,919		1,517
Cash from operating activities		$ 300		2,463
Proceeds from borrowings		596
Payments on borrowings		896
Reverse factoring	13,671			10,240		8,301
Cash flow from operating to financing	$ 17,549	$ 6,737		$ 17,481		$ 20,526
Bottom of range [member]
Basis of Preparation and Accounting (Details) [Line Items]
Finance rate			9.00%
Top of range [member]
Basis of Preparation and Accounting (Details) [Line Items]
Finance rate			4.75%
[1]	Refer to Note 2.4
[2]	Refer to Note 2.4

Basis of Preparation and Acco_4

Basis of Preparation and Accounting (Details) - Schedule of revised Statement of Financial Position for the historical periods - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
As Reported [Member]
Current liabilities
Borrowings	$ 95,262	$ 102,621	$ 90,157
Trade and other payables, net	113,117	106,275	114,426
Restatement Adjustments [Member]
Current liabilities
Borrowings	17,479	12,159	9,818
Trade and other payables, net	(17,479)	(12,159)	(9,818)
As Restated [Member]
Current liabilities
Borrowings	112,741	114,780	99,975
Trade and other payables, net	$ 95,638	$ 94,116	$ 104,608

Basis of Preparation and Acco_5

Basis of Preparation and Accounting (Details) - Schedule of revised Statement of Cash Flows for the historical periods - USD ($) $ in Thousands		6 Months Ended				12 Months Ended
		Jun. 30, 2021		Jun. 30, 2020		Dec. 31, 2020		Dec. 31, 2019
Previously stated [member]
Basis of Preparation and Accounting (Details) - Schedule of revised Statement of Cash Flows for the historical periods [Line Items]
Trade and other payables		$ 3,275		$ (15,584)		$ (8,149)		$ 12,116
Interest paid
Cash flow provided by (used in) operating activities		(1,499)		27,440		52,815		49,976
Investing activities:
Advances from related parties
Proceeds from related parties
Cash flow provided by (used in) investing activities		(9,583)		(6,467)		(17,286)		(12,112)
Financing activities:
Proceeds from borrowings		94,744		55,538		106,736		96,392
Payments on borrowings		(56,640)		(47,734)		(106,375)		(101,961)
Advances to related parties								(289)
Proceeds from related parties						195		332
Interest paid on borrowings						(16,941)		(18,500)
Payment of lease liabilities
Cash Flow generated from (used in) financing activities		26,636		(6,162)		(22,209)		(28,596)
Restatement Adjustments [Member]
Basis of Preparation and Accounting (Details) - Schedule of revised Statement of Cash Flows for the historical periods [Line Items]
Trade and other payables		18,864	[1]	7,715	[2]	19,944	[3]	20,526	[3]
Interest paid		(1,015)	[1]	(978)	[2]	(1,839)	[3]	(2,216)	[3]
Cash flow provided by (used in) operating activities		17,849	[1]	6,737	[2]	18,105	[3]	18,310	[3]
Investing activities:
Advances from related parties	[3]
Proceeds from related parties	[3]
Cash flow provided by (used in) investing activities			[1]		[2]		[3]		[3]
Financing activities:
Proceeds from borrowings		596	[1]		[2]		[3]		[3]
Payments on borrowings		(18,445)	[1]	(6,737)	[2]	(19,944)	[3]	(20,526)	[3]
Advances to related parties	[3]
Proceeds from related parties	[3]
Interest paid on borrowings	[3]					1,839		2,216
Payment of lease liabilities	[3]
Cash Flow generated from (used in) financing activities		(17,849)	[1]	(6,737)	[2]	(18,105)	[3]	(18,310)	[3]
Other Reclassifications [Member]
Basis of Preparation and Accounting (Details) - Schedule of revised Statement of Cash Flows for the historical periods [Line Items]
Trade and other payables	[4]
Interest paid	[4]
Cash flow provided by (used in) operating activities	[4]
Investing activities:
Advances from related parties	[4]							(289)
Proceeds from related parties	[4]					195		332
Cash flow provided by (used in) investing activities	[4]					195		43
Financing activities:
Proceeds from borrowings	[4]
Payments on borrowings	[4]					5,733		4,070
Advances to related parties	[4]							289
Proceeds from related parties	[4]					(195)		(332)
Interest paid on borrowings	[4]
Payment of lease liabilities	[4]					(5,733)		(4,070)
Cash Flow generated from (used in) financing activities	[4]					(195)		(43)
As Restated [Member]
Basis of Preparation and Accounting (Details) - Schedule of revised Statement of Cash Flows for the historical periods [Line Items]
Trade and other payables		22,139		(7,869)		11,795		32,642
Interest paid		(1,015)		(978)		(1,839)		(2,216)
Cash flow provided by (used in) operating activities		16,350		34,177		70,920		68,286
Investing activities:
Advances from related parties								(289)
Proceeds from related parties						195		332
Cash flow provided by (used in) investing activities		(9,583)		(6,467)		(17,091)		(12,069)
Financing activities:
Proceeds from borrowings		95,340		55,538		106,736		96,392
Payments on borrowings		(75,085)		(54,471)		(120,586)		(118,417)
Advances to related parties
Proceeds from related parties
Interest paid on borrowings						(15,102)		(16,284)
Payment of lease liabilities						(5,733)		(4,070)
Cash Flow generated from (used in) financing activities		$ 8,787		$ (12,899)		$ (40,509)		$ (46,949)
[1]	The restatement adjustment related to trade and other payables consist of errors related to reverse factoring of $17,549 thousand, factoring of $300 thousand and interest paid on lease liabilities of $1,015 thousand.
[2]	The restatement adjustment related to trade and other payables consist of errors related to reverse factoring of $6,737 thousand and interest paid on lease liabilities of $978 thousand.
[3]	In addition to the errors related to factoring and reverse factoring arrangements, this column includes an error related to the classification of interest paid on lease liabilities from financing into operating cash flows.
[4]	Certain reclassifications have been made to prior years Consolidated Statement of Cash Flows to conform to the current year presentation, which include the separate disclosure for payment of lease liabilities and presentation of cash flow to/from related parties regarding loans to such entities in investing activities. These reclassifications had no impact on previously reported loss for the years nor accumulated losses.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of significant accounting policies [text block] [Abstract]
Leases of assets	$ 5,000
Customers trade receivable percentage	50.00%
Net interest expense	$ 67	$ 60	$ 47
Remeasurements	195	47	122
Costs of defined benefit plans	25,051	27,421	23,688
Administrative expenses of defined benefit plans	$ 62,200	$ 48,913	$ 52,956
Interest joint venture	50.00%
Voting rights, percentage	50.00%

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - Schedule of useful lives of property, plant and equipment	12 Months Ended
	Dec. 31, 2021
Buildings [Member] | Bottom of range [member]
Summary of Significant Accounting Policies (Details) - Schedule of useful lives of property, plant and equipment [Line Items]
Property, plant and equipment, net	20 years
Buildings [Member] | Top of range [member]
Summary of Significant Accounting Policies (Details) - Schedule of useful lives of property, plant and equipment [Line Items]
Property, plant and equipment, net	40 years
Machinery and equipment [Member] | Bottom of range [member]
Summary of Significant Accounting Policies (Details) - Schedule of useful lives of property, plant and equipment [Line Items]
Property, plant and equipment, net	10 years
Machinery and equipment [Member] | Top of range [member]
Summary of Significant Accounting Policies (Details) - Schedule of useful lives of property, plant and equipment [Line Items]
Property, plant and equipment, net	20 years
Furniture and fixtures [Member] | Bottom of range [member]
Summary of Significant Accounting Policies (Details) - Schedule of useful lives of property, plant and equipment [Line Items]
Property, plant and equipment, net	2 years
Furniture and fixtures [Member] | Top of range [member]
Summary of Significant Accounting Policies (Details) - Schedule of useful lives of property, plant and equipment [Line Items]
Property, plant and equipment, net	10 years
Other equipment [Member] | Bottom of range [member]
Summary of Significant Accounting Policies (Details) - Schedule of useful lives of property, plant and equipment [Line Items]
Property, plant and equipment, net	2 years
Other equipment [Member] | Top of range [member]
Summary of Significant Accounting Policies (Details) - Schedule of useful lives of property, plant and equipment [Line Items]
Property, plant and equipment, net	5 years

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details) - Schedule of useful lives are used to calculate amortization	12 Months Ended
	Dec. 31, 2021
Trademarks and sanitary records [Member] | Bottom of range [member]
Summary of Significant Accounting Policies (Details) - Schedule of useful lives are used to calculate amortization [Line Items]
Useful life	3 years
Trademarks and sanitary records [Member] | Top of range [member]
Summary of Significant Accounting Policies (Details) - Schedule of useful lives are used to calculate amortization [Line Items]
Useful life	20 years
Licenses, customers and agreements [Member] | Bottom of range [member]
Summary of Significant Accounting Policies (Details) - Schedule of useful lives are used to calculate amortization [Line Items]
Useful life	3 years
Licenses, customers and agreements [Member] | Top of range [member]
Summary of Significant Accounting Policies (Details) - Schedule of useful lives are used to calculate amortization [Line Items]
Useful life	10 years
Product development [Member]
Summary of Significant Accounting Policies (Details) - Schedule of useful lives are used to calculate amortization [Line Items]
Useful life	3 years

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Details) - Schedule of summary describes the operations of each reportable segment	12 Months Ended
	Dec. 31, 2021
NextGel [Member]
Summary of Significant Accounting Policies (Details) - Schedule of summary describes the operations of each reportable segment [Line Items]
Operations	Manufacturing and distribution of prescription and over-the-counter pharmaceutical products in USA, Brazil and Colombia
Procaps Colombia [Member]
Summary of Significant Accounting Policies (Details) - Schedule of summary describes the operations of each reportable segment [Line Items]
Operations	Manufacturing and distribution of prescription and over-the-counter pharmaceutical products in Colombia
CAN [Member]
Summary of Significant Accounting Policies (Details) - Schedule of summary describes the operations of each reportable segment [Line Items]
Operations	Manufacturing and distribution of prescription and over-the-counter pharmaceutical products in Northern Central America: Salvador, Guatemala, Nicaragua and Honduras
CASAND [Member]
Summary of Significant Accounting Policies (Details) - Schedule of summary describes the operations of each reportable segment [Line Items]
Operations	Manufacturing and distribution of prescription and over-the-counter pharmaceutical products in Southern Central America (Panama and Costa Rica) and the North Andes District (Ecuador, Peru and Bolivia)
Diabetrics [Member]
Summary of Significant Accounting Policies (Details) - Schedule of summary describes the operations of each reportable segment [Line Items]
Operations	Diabetes solutions and chronic disease management tool

Critical Accounting Judgement_2

Critical Accounting Judgements and Key Sources of Estimation Uncertainty (Details)	12 Months Ended
	Dec. 31, 2021
Disclosure of accounting judgements and estimates [text block] [Abstract]
Provision percentage	50.00%

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements Not Yet Adopted (Details)	Dec. 31, 2021
Recent Accounting Pronouncements Not Yet Adopted [Abstract]
Percentage of derecognition of financial liabilities	10.00%

Revenue (Details)

Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of revenue [text block] [Abstract]
Revenue	$ 3,637	$ 2,213	$ 10,159

Revenue (Details) - Schedule of

Revenue (Details) - Schedule of primary geographical market and major products - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenue (Details) - Schedule of primary geographical market and major products [Line Items]
Segment revenue	$ 585,530	$ 449,380	$ 461,865
Intra-segment revenue	(175,788)	(117,913)	(137,073)
Revenue from contracts with customers	409,742	331,467	324,792
Timing of revenue recognition
Goods transferred at a point in time	406,105	329,254	314,633
Services transferred over time	3,637	2,213	10,159
Total revenue from contracts with customers	409,742	331,467	324,792
NextGel [Member]
Revenue (Details) - Schedule of primary geographical market and major products [Line Items]
Segment revenue	244,791	201,294	192,247
Intra-segment revenue	(123,964)	(95,315)	(94,958)
Revenue from contracts with customers	120,827	105,979	97,289
Timing of revenue recognition
Goods transferred at a point in time	117,190	103,766	94,964
Services transferred over time	3,637	2,213	2,325
Total revenue from contracts with customers	120,827	105,979	97,289
Procaps Colombia [Member]
Revenue (Details) - Schedule of primary geographical market and major products [Line Items]
Segment revenue	156,820	121,532	124,090
Intra-segment revenue	(1,493)	(6,637)	(3,977)
Revenue from contracts with customers	155,327	114,895	120,113
Timing of revenue recognition
Goods transferred at a point in time	155,327	114,895	112,279
Services transferred over time			7,834
Total revenue from contracts with customers	155,327	114,895	120,113
CAN [Member]
Revenue (Details) - Schedule of primary geographical market and major products [Line Items]
Segment revenue	67,842	44,808	54,628
Intra-segment revenue	(16,905)	805	(4,949)
Revenue from contracts with customers	50,937	45,613	49,679
Timing of revenue recognition
Goods transferred at a point in time	50,937	45,613	49,679
Services transferred over time
Total revenue from contracts with customers	50,937	45,613	49,679
CASAND [Member]
Revenue (Details) - Schedule of primary geographical market and major products [Line Items]
Segment revenue	68,242	40,094	42,332
Intra-segment revenue	(14,286)	(1,538)	(2,271)
Revenue from contracts with customers	53,956	38,556	40,061
Timing of revenue recognition
Goods transferred at a point in time	53,956	38,556	40,061
Services transferred over time
Total revenue from contracts with customers	53,956	38,556	40,061
Diabetrics [Member]
Revenue (Details) - Schedule of primary geographical market and major products [Line Items]
Segment revenue	47,835	39,221	36,931
Intra-segment revenue	(19,140)	(16,432)	(14,703)
Revenue from contracts with customers	28,695	22,789	22,228
Timing of revenue recognition
Goods transferred at a point in time	28,695	22,789	22,228
Services transferred over time
Total revenue from contracts with customers	28,695	22,789	22,228
Corporate [Member]
Revenue (Details) - Schedule of primary geographical market and major products [Line Items]
Segment revenue		2,431	11,637
Intra-segment revenue		1,204	(16,215)
Revenue from contracts with customers		3,635	(4,578)
Timing of revenue recognition
Goods transferred at a point in time		3,635	(4,578)
Services transferred over time
Total revenue from contracts with customers		$ 3,635	$ (4,578)

Segment Reporting (Details)

Segment Reporting (Details)	12 Months Ended
	Dec. 31, 2021
Disclosure of entity's operating segments [text block] [Abstract]
Revenue, percentage	10.00%
Changes in measurement methods, description	The result of this measurement change reduced the 2020 (2019) reported contribution margin for NextGel, Procaps Colombia and CAN, by $2.4 million ($3.8 million), $3.2 million ($4.0 million) and $1.9 million ($1.5 million), respectively, with an offsetting increase in the Corporate category.

Segment Reporting (Details) - S

Segment Reporting (Details) - Schedule of customer revenue recognition (external revenue) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021		Dec. 31, 2020		Dec. 31, 2019
Total
Segment Reporting (Details) - Schedule of customer revenue recognition (external revenue) [Line Items]
Revenue	$ 585,530		$ 449,380		$ 461,865
Contribution margin 1	153,896	[1]	110,940	[1]	118,153
Administrative expenses	82,187		58,631		60,257
Finance expenses	78,636		54,489		42,983
Other expenses	78,991		7,716		4,426
Income (loss) before tax	(85,918)		(9,896)		10,487
Total | NextGel [Member]
Segment Reporting (Details) - Schedule of customer revenue recognition (external revenue) [Line Items]
Revenue	244,791		201,294		192,247
Contribution margin 1	66,679	[1]	52,679	[1]	59,590
Total | Procaps Colombia [Member]
Segment Reporting (Details) - Schedule of customer revenue recognition (external revenue) [Line Items]
Revenue	156,820		121,532		124,090
Contribution margin 1	51,431	[1]	43,926	[1]	46,885
Total | CAN [Member]
Segment Reporting (Details) - Schedule of customer revenue recognition (external revenue) [Line Items]
Revenue	67,842		44,808		54,628
Contribution margin 1	18,767	[1]	9,197	[1]	9,625
Total | CASAND [Member]
Segment Reporting (Details) - Schedule of customer revenue recognition (external revenue) [Line Items]
Revenue	68,242		40,094		42,332
Contribution margin 1	9,949	[1]	9,001	[1]	5,474
Total | Diabetrics [Member]
Segment Reporting (Details) - Schedule of customer revenue recognition (external revenue) [Line Items]
Revenue	47,835		39,221		36,931
Contribution margin 1	6,981	[1]	6,294	[1]	5,426
Administrative expenses
Finance expenses
Other expenses
Total | Corporate [Member]
Segment Reporting (Details) - Schedule of customer revenue recognition (external revenue) [Line Items]
Revenue			2,431		11,637
Contribution margin 1	89	[1]	(10,157)	[1]	(8,847)
Administrative expenses	82,187		58,631		60,257
Finance expenses	78,636		54,489		42,983
Other expenses	78,991		7,716		4,426
Elimination of intersegment amounts [member]
Segment Reporting (Details) - Schedule of customer revenue recognition (external revenue) [Line Items]
Revenue	(175,788)		(117,913)		(137,074)
Contribution margin 1	(1,240)	[1]	10,745	[1]	(20,465)
Administrative expenses
Finance expenses
Other expenses
Income (loss) before tax	(1,240)		10,745		(20,465)
Elimination of intersegment amounts [member] | NextGel [Member]
Segment Reporting (Details) - Schedule of customer revenue recognition (external revenue) [Line Items]
Revenue	(123,964)		(95,315)		(94,958)
Contribution margin 1	(12,573)	[1]	(5,790)	[1]	(20,394)
Elimination of intersegment amounts [member] | Procaps Colombia [Member]
Segment Reporting (Details) - Schedule of customer revenue recognition (external revenue) [Line Items]
Revenue	(1,493)		(6,637)		(3,978)
Contribution margin 1	490	[1]	(1,695)	[1]	(9,465)
Elimination of intersegment amounts [member] | CAN [Member]
Segment Reporting (Details) - Schedule of customer revenue recognition (external revenue) [Line Items]
Revenue	(16,905)		805		(4,949)
Contribution margin 1	(231)	[1]	6,324	[1]	7,377
Elimination of intersegment amounts [member] | CASAND [Member]
Segment Reporting (Details) - Schedule of customer revenue recognition (external revenue) [Line Items]
Revenue	(14,286)		(1,538)		(2,271)
Contribution margin 1	11,754	[1]	813	[1]	4,948
Elimination of intersegment amounts [member] | Diabetrics [Member]
Segment Reporting (Details) - Schedule of customer revenue recognition (external revenue) [Line Items]
Revenue	(19,140)		(16,432)		(14,703)
Contribution margin 1	(133)	[1]	(807)	[1]	(580)
Administrative expenses
Finance expenses
Other expenses
Elimination of intersegment amounts [member] | Corporate [Member]
Segment Reporting (Details) - Schedule of customer revenue recognition (external revenue) [Line Items]
Revenue			1,204		(16,215)
Contribution margin 1	(547)	[1]	11,900	[1]	(2,351)
Administrative expenses
Finance expenses
Other expenses
Unallocated amounts [member]
Segment Reporting (Details) - Schedule of customer revenue recognition (external revenue) [Line Items]
Revenue	409,742		331,467		324,791
Contribution margin 1	152,656	[1]	121,685	[1]	97,688
Administrative expenses	82,187		58,631		60,257
Finance expenses	78,636		54,489		42,983
Other expenses	78,991		7,716		4,426
Income (loss) before tax	(87,158)		849		(9,978)
Unallocated amounts [member] | NextGel [Member]
Segment Reporting (Details) - Schedule of customer revenue recognition (external revenue) [Line Items]
Revenue	120,827		105,979		97,289
Contribution margin 1	54,106	[1]	46,889	[1]	39,196
Unallocated amounts [member] | Procaps Colombia [Member]
Segment Reporting (Details) - Schedule of customer revenue recognition (external revenue) [Line Items]
Revenue	155,327		114,895		120,112
Contribution margin 1	51,921	[1]	42,231	[1]	37,420
Unallocated amounts [member] | CAN [Member]
Segment Reporting (Details) - Schedule of customer revenue recognition (external revenue) [Line Items]
Revenue	50,937		45,613		49,679
Contribution margin 1	18,536	[1]	15,521	[1]	17,002
Unallocated amounts [member] | CASAND [Member]
Segment Reporting (Details) - Schedule of customer revenue recognition (external revenue) [Line Items]
Revenue	53,956		38,556		40,061
Contribution margin 1	21,703	[1]	9,814	[1]	10,422
Unallocated amounts [member] | Diabetrics [Member]
Segment Reporting (Details) - Schedule of customer revenue recognition (external revenue) [Line Items]
Revenue	28,695		22,789		22,228
Contribution margin 1	6,848	[1]	5,487	[1]	4,846
Administrative expenses
Finance expenses
Other expenses
Unallocated amounts [member] | Corporate [Member]
Segment Reporting (Details) - Schedule of customer revenue recognition (external revenue) [Line Items]
Revenue			3,635		(4,578)
Contribution margin 1	(458)	[1]	1,743	[1]	(11,198)
Administrative expenses	82,187		58,631		60,257
Finance expenses	78,636		54,489		42,983
Other expenses	$ 78,991		$ 7,716		$ 4,426
[1]	Contribution margin is determined by subtracting sales and marketing expenses from gross profit. The Group’s customer revenue recognition (external revenue) policy has been consistent with inter-segment revenue generated.

Segment Reporting (Details) -_2

Segment Reporting (Details) - Schedule of basis of geographical segments - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting (Details) - Schedule of basis of geographical segments [Line Items]
Segment revenue	$ 409,742	$ 331,467	$ 324,792
South America [Member]
Segment Reporting (Details) - Schedule of basis of geographical segments [Line Items]
Segment revenue	284,068	249,983	241,654
Central America [Member]
Segment Reporting (Details) - Schedule of basis of geographical segments [Line Items]
Segment revenue	72,188	58,082	63,812
North America [Member]
Segment Reporting (Details) - Schedule of basis of geographical segments [Line Items]
Segment revenue	44,857	12,576	15,202
Europe [Member]
Segment Reporting (Details) - Schedule of basis of geographical segments [Line Items]
Segment revenue	$ 8,629	$ 10,826	$ 4,124

Finance Expenses, Net (Details)

Finance Expenses, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of expenses [text block] [Abstract]
Interest on lease liabilities	$ 720	$ 601	$ 771
Interest expense related to the put option amortization	23,506	$ 27,344	$ 13,664
Recognized loss	$ 35,920

Finance Expenses, Net (Detail_2

Finance Expenses, Net (Details) - Schedule of finance expenses, net - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Schedule of finance expenses, net [Abstract]
Banking expenses	$ 1,056	$ 590	$ 428
Bank fees	2,263	986	855
Other financial expenses	354	281	157
Net fair value gain of warrant liabilities	(5,851)
Net fair value gain of shares held in escrow	(4,506)
Interest expense	85,320	52,632	41,543
Total	$ 78,636	$ 54,489	$ 42,983

Other Expenses, Net (Details) -

Other Expenses, Net (Details) - Schedule of other expenses, net - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Schedule of other expenses, net [Abstract]
Currency exchange rate differences		$ 4,026	$ 3,905	$ 1,827
Economic emergency contribution expenses		1,385	811	796
Fines, surcharges, penalties and taxes assumed		775	1,440	1,426
Donations		720	716	650
Listing expense (a)	[1]	73,917
Other		(1,832)	844	(273)
Total		$ 78,991	$ 7,716	$ 4,426
[1]	Corresponds to the difference between the fair value of the net assets received through the SPAC and the value of the equity interest issued, adjusted by dilutive effect of shares held in escrow at a weighted average fair value per share. Refer to Note 26.1. Reverse reorganization for further information related to the Transaction.

Income Tax (Details)

Income Tax (Details)	Sep. 14, 2021	Sep. 29, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax (Details) [Line Items]
Tax rate			17.00%	35.00%	35.00%
Bottom of Range [Member]
Income Tax (Details) [Line Items]
Corporate tax rate	30.00%
Top of Range [Member]
Income Tax (Details) [Line Items]
Corporate tax rate	35.00%
Malta to Luxembourg [Member]
Income Tax (Details) [Line Items]
Tax rate		17.00%

Income Tax (Details) - Schedule

Income Tax (Details) - Schedule of income tax recognized through profit or loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Schedule of income tax recognized through profit or loss [Abstract]
Current year	$ 12,250	$ 7,491	$ 8,118
Current tax expense	12,250	7,491	8,118
Origination and reversal of temporary differences	1,455	3,805	(1,083)
Deferred tax expense	1,455	3,805	(1,083)
Total tax expense	$ 13,705	$ 11,296	$ 7,035

Income Tax (Details) - Schedu_2

Income Tax (Details) - Schedule of reconciliation of effective tax rate - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Schedule of reconciliation of effective tax rate [Abstract]
Profit/ (loss) before tax	$ (87,158)	$ 849	$ (9,978)
Income tax (benefit)/expense	(14,817)	297	(3,492)
Tax effect of expenses that are not deductible in determining taxable profit	49,442	13,525	8,289
Tax effect of income not taxable in determining taxable profit	(8,822)	(7,754)	(10,550)
Effect of different tax rates of subsidiaries operating in other jurisdictions	(9,423)	1,960	160
Others - Includes exchange effects for reversal rates of long-term temporary differences, income taxed at differential rates, effects of change in deferred tax rate and tax discounts	(2,675)	3,200	12,343
Tax effect of utilization of tax losses not previously recognized		68	285
Tax expense for the year	$ 13,705	$ 11,296	$ 7,035

Income Tax (Details) - Schedu_3

Income Tax (Details) - Schedule of current tax assets and current tax liabilities - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020		Dec. 31, 2019	[1]
Schedule of current tax assets and current tax liabilities [Abstract]
Income Tax Advance	$ 6,081	$ 1,070
Income Tax Withholding		5,880
Surplus in Private Liquidation	15,732	8,839
Other Tax Assets	269	985
Total current tax assets	22,082	16,774	[1]	$ 6,697
Current tax liabilities
Income Tax Withholding	(8,982)	(4,690)
Income Tax Payable	(2,652)	(4,296)
Other Tax Liabilities	(122)	(407)
Total current tax liabilities	$ (11,756)	$ (9,393)	[1]	$ (7,542)
[1]	Refer to Note 2.4

Income Tax (Details) - Schedu_4

Income Tax (Details) - Schedule of tax losses and excess - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Schedule of tax losses and excess [Abstract]
Tax Losses not utilized	$ 3,242	$ 2
Tax Credits not utilized		257
Total	$ 3,242	$ 259

Goodwill (Details)

Goodwill (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Goodwill (Details) [Line Items]
Description of cash generating unit	●Growth rate: the rate is consistent with the growth of the pharmaceutical and medical supplies markets in the current and potential operating areas of the cash generating units. Management considers any potential reasonable change in the key assumptions on which the recoverable amount is based would not cause the total carrying amount to exceed the total recoverable amount of the cash generating unit.    ●Expected market share: Growth of 6.2% and 3.8% for Procaps S.A. de C.V (previously Laboratorios Lopez S.A. de C.V.) and Biokemical, respectively, in sales is consistent with the increase in population, the increase in life expectancy and the growth of the industry in Latin America. Management considers that the planned growth of market share for the next six years is reasonably achievable.     ◦For Rymco, its commercial portfolio is dedicated to assist with the COVID-19 epidemic resulting in enhanced market share. Rymco offers three-layer hospital masks and has the capacity to produce more than 12 million units of masks per month, which has positively impacted market share. Lastly, purchase orders resulted in production at capacity during 2021.      ●Expected gross margin: Gross margin decreased by 71.5% in 2021 when compared to 2020. Out of the mentioned decrease, 67.7% is due to Rymco.
Procaps S.A. de C.V [Member]
Goodwill (Details) [Line Items]
Annual discount rate	12.20%
Fixed annual growth rate	1.00%
Sales growth rate	6.20%
Gross margin	49.00%
Cash generated unit exceeded its carrying amount (in Dollars)	$ 10,386,000	$ 8,833,000
Biokemical S.A. de C.V. [Member]
Goodwill (Details) [Line Items]
Annual discount rate	13.30%
Fixed annual growth rate	1.00%
Sales growth rate	3.80%
Gross margin	41.40%
Cash generated unit exceeded its carrying amount (in Dollars)	$ 5,932,000	1,426,000
Rymco [Member]
Goodwill (Details) [Line Items]
Annual discount rate	11.50%
Fixed annual growth rate	3.10%
Sales growth rate	11.60%
Gross margin	18.00%
Cash generated unit exceeded its carrying amount (in Dollars)	$ 5,766	$ 4,283

Goodwill (Details) - Schedule o

Goodwill (Details) - Schedule of goodwill - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020
Schedule of goodwill [Abstract]
Balance at beginning of the year/period	[1]	$ 6,863	$ 7,020
Effect of movements in foreign exchange		(60)	(157)
Balance at end of the year/period		$ 6,803	$ 6,863	[1]
[1]	Refer to Note 2.4

Goodwill (Details) - Schedule_2

Goodwill (Details) - Schedule of allocation of goodwill - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020		Dec. 31, 2019	[1]
Goodwill (Details) - Schedule of allocation of goodwill [Line Items]
Goodwill	$ 6,803	$ 6,863	[1]	$ 7,020
Procaps S.A. de C.V (previously Laboratorios Lopez S.A. de C.V.) [Member]
Goodwill (Details) - Schedule of allocation of goodwill [Line Items]
Goodwill	549	549
Biokemical S.A. de C.V. [Member]
Goodwill (Details) - Schedule of allocation of goodwill [Line Items]
Goodwill	5,242	5,241
Rymco S.A. [Member]
Goodwill (Details) - Schedule of allocation of goodwill [Line Items]
Goodwill	$ 1,012	$ 1,073
[1]	Refer to Note 2.4

Intangible assets (Details) - S

Intangible assets (Details) - Schedule of intangible assets - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020
Intangible assets (Details) - Schedule of intangible assets [Line Items]
Balance beginning	[1]	$ 27,583	$ 23,201
Net book value		30,171	27,583	[1]
Balance ending		30,171	27,583	[1]
Cost [Member]
Intangible assets (Details) - Schedule of intangible assets [Line Items]
Balance beginning		48,622	39,141
Net book value		53,926	48,622
Additions		2,427	1,154
Additions from internal developments		7,976	9,065
Derecognition of assets		(7)	(162)
Foreign currency exchange		(5,092)	(576)
Reclassifications and others
Reclassifications
Balance ending		53,926	48,622
Accumulated amortization [Member]
Intangible assets (Details) - Schedule of intangible assets [Line Items]
Balance beginning		21,039	15,940
Net book value		23,755	21,039
Derecognition of assets		(7)
Amortization expense		4,816	5,979
Foreign currency exchange		(2,093)	(880)
Reclassifications and others
Reclassifications
Balance ending		23,755	21,039
Trademarks and sanitary records [Member]
Intangible assets (Details) - Schedule of intangible assets [Line Items]
Balance beginning		9,695
Net book value		10,474	9,695
Balance ending		10,474	9,695
Trademarks and sanitary records [Member] | Cost [Member]
Intangible assets (Details) - Schedule of intangible assets [Line Items]
Balance beginning		13,176	10,908
Net book value		14,706	13,176
Additions		1,672	24
Additions from internal developments			421
Derecognition of assets
Foreign currency exchange		(631)	88
Reclassifications and others		489	1,735
Reclassifications		489	1,735
Balance ending		14,706	13,176
Trademarks and sanitary records [Member] | Accumulated amortization [Member]
Intangible assets (Details) - Schedule of intangible assets [Line Items]
Balance beginning		3,481	2,146
Net book value		4,232	3,481
Derecognition of assets
Amortization expense		787	1,310
Foreign currency exchange		(277)	25
Reclassifications and others		241
Reclassifications		241
Balance ending		4,232	3,481
Licenses, customers and agreements [Member]
Intangible assets (Details) - Schedule of intangible assets [Line Items]
Balance beginning		4,406
Net book value		3,422	4,406
Balance ending		3,422	4,406
Licenses, customers and agreements [Member] | Cost [Member]
Intangible assets (Details) - Schedule of intangible assets [Line Items]
Balance beginning		17,174	17,719
Net book value		15,935	17,174
Additions		755	1,130
Additions from internal developments			970
Derecognition of assets		(7)	(162)
Foreign currency exchange		(1,475)	(748)
Reclassifications and others		(512)	(1,735)
Reclassifications		(512)	(1,735)
Balance ending		15,935	17,174
Licenses, customers and agreements [Member] | Accumulated amortization [Member]
Intangible assets (Details) - Schedule of intangible assets [Line Items]
Balance beginning		12,768	12,370
Net book value		12,513	12,768
Derecognition of assets		(7)
Amortization expense		965	1,633
Foreign currency exchange		(976)	(1,235)
Reclassifications and others		(237)
Reclassifications		(237)
Balance ending		12,513	12,768
Product development [Member]
Intangible assets (Details) - Schedule of intangible assets [Line Items]
Balance beginning		13,482
Net book value		16,275	13,482
Balance ending		16,275	13,482
Product development [Member] | Cost [Member]
Intangible assets (Details) - Schedule of intangible assets [Line Items]
Balance beginning		18,272	10,514
Net book value		23,285	18,272
Additions
Additions from internal developments		7,976	7,674
Derecognition of assets
Foreign currency exchange		(2,986)	84
Reclassifications and others		23
Reclassifications		23
Balance ending		23,285	18,272
Product development [Member] | Accumulated amortization [Member]
Intangible assets (Details) - Schedule of intangible assets [Line Items]
Balance beginning		4,790	1,424
Net book value		7,010	4,790
Derecognition of assets
Amortization expense		3,064	3,036
Foreign currency exchange		(840)	330
Reclassifications and others		(4)
Reclassifications		(4)
Balance ending		$ 7,010	$ 4,790
[1]	Refer to Note 2.4

Property, plant and equipment_3

Property, plant and equipment, net (Details) - Property, Plant and Equipment [Member] - USD ($) $ in Thousands	2 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Property, plant and equipment, net (Details) [Line Items]
Cost of goods sold		$ 4,382	$ 3,661
Administrative expense		1,690	2,239
Freehold land and buildings	$ 83,432	83,432	125,058
Acquire capital expenditures	$ 3,585	$ 3,585	$ 4,832
Asset purchase agreement, description	Procaps Group entered into an asset purchase agreement to acquire an 86,000 sq. ft. pharmaceutical production facility. The purchase price allocated to property, plant and equipment based on the estimated fair value of the assets acquired at the date of acquisition was $1,487. On the Closing Date, December 31, 2021, Procaps paid the amount corresponding to the 50% of the Purchase Price and the remaining 50% will be paid at December 31, 2023. Please refer to Note 26.2. Asset acquisition - Pharmaceutical production facility.

Property, plant and equipment_4

Property, plant and equipment, net (Details) - Schedule of property, plant and equipment, net - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020
Property, plant and equipment, net (Details) - Schedule of property, plant and equipment, net [Line Items]
Balance beginning	[1]	$ 70,335	$ 74,915
Net book value		72,638	70,335	[1]
Balance ending		72,638	70,335	[1]
Cost [Member]
Property, plant and equipment, net (Details) - Schedule of property, plant and equipment, net [Line Items]
Balance beginning		115,291	114,603
Additions		15,437	7,699
Disposals		(654)	(856)
Net book value		116,654	115,291
Effect of exchange differences in foreign currency		(11,755)	(6,155)
Reclassifications and others		(1,665)
Balance ending		116,654	115,291
Accumulated depreciation [Member]
Property, plant and equipment, net (Details) - Schedule of property, plant and equipment, net [Line Items]
Balance beginning		44,956	39,688
Disposals		(177)	(89)
Net book value		44,016	44,956
Depreciation expense		6,072	5,900
Effect of exchange differences in foreign currency		(4,543)	(543)
Reclassifications and others		(2,292)
Balance ending		44,016	44,956
Land and buildings [Member]
Property, plant and equipment, net (Details) - Schedule of property, plant and equipment, net [Line Items]
Balance beginning		18,748
Net book value		22,682	18,748
Balance ending		22,682	18,748
Land and buildings [Member] | Cost [Member]
Property, plant and equipment, net (Details) - Schedule of property, plant and equipment, net [Line Items]
Balance beginning		26,819	28,111
Additions		487	32
Disposals		(289)	(274)
Net book value		30,319	26,819
Effect of exchange differences in foreign currency		(1,180)	(1,567)
Reclassifications and others		4,482	517
Balance ending		30,319	26,819
Land and buildings [Member] | Accumulated depreciation [Member]
Property, plant and equipment, net (Details) - Schedule of property, plant and equipment, net [Line Items]
Balance beginning		8,071	7,323
Disposals		(70)
Net book value		7,637	8,071
Depreciation expense		871	861
Effect of exchange differences in foreign currency		(328)	(113)
Reclassifications and others		(907)
Balance ending		7,637	8,071
Machinery and equipment, furniture and fixtures [Member]
Property, plant and equipment, net (Details) - Schedule of property, plant and equipment, net [Line Items]
Balance beginning		37,040
Net book value		38,810	37,040
Balance ending		38,810	37,040
Machinery and equipment, furniture and fixtures [Member] | Cost [Member]
Property, plant and equipment, net (Details) - Schedule of property, plant and equipment, net [Line Items]
Balance beginning		69,664	69,511
Additions		4,764	1,419
Disposals		(350)	(527)
Net book value		71,666	69,664
Effect of exchange differences in foreign currency		(8,930)	(4,159)
Reclassifications and others		6,518	3,420
Balance ending		71,666	69,664
Machinery and equipment, furniture and fixtures [Member] | Accumulated depreciation [Member]
Property, plant and equipment, net (Details) - Schedule of property, plant and equipment, net [Line Items]
Balance beginning		32,624	29,011
Disposals		(91)	(82)
Net book value		32,856	32,624
Depreciation expense		4,653	4,061
Effect of exchange differences in foreign currency		(3,743)	(366)
Reclassifications and others		(587)
Balance ending		32,856	32,624
Projects in progress [Member]
Property, plant and equipment, net (Details) - Schedule of property, plant and equipment, net [Line Items]
Balance beginning		9,330
Net book value		10,641	9,330
Balance ending		10,641	9,330
Projects in progress [Member] | Cost [Member]
Property, plant and equipment, net (Details) - Schedule of property, plant and equipment, net [Line Items]
Balance beginning		9,330	8,444
Additions		10,019	5,118
Disposals
Net book value		10,641	9,330
Effect of exchange differences in foreign currency		(1,130)	(272)
Reclassifications and others		(7,578)	(3,960)
Balance ending		10,641	9,330
Projects in progress [Member] | Accumulated depreciation [Member]
Property, plant and equipment, net (Details) - Schedule of property, plant and equipment, net [Line Items]
Balance beginning
Disposals
Net book value
Depreciation expense
Effect of exchange differences in foreign currency
Reclassifications and others
Balance ending
Other [Member]
Property, plant and equipment, net (Details) - Schedule of property, plant and equipment, net [Line Items]
Balance beginning	[2]	5,217
Net book value	[2]	505	5,217
Balance ending	[2]	505	5,217
Other [Member] | Cost [Member]
Property, plant and equipment, net (Details) - Schedule of property, plant and equipment, net [Line Items]
Balance beginning	[2]	9,478	8,537
Additions	[2]	167	1,130
Disposals	[2]	(15)	(55)
Net book value	[2]	4,028	9,478
Effect of exchange differences in foreign currency	[2]	(515)	(157)
Reclassifications and others	[2]	(5,087)	23
Balance ending	[2]	4,028	9,478
Other [Member] | Accumulated depreciation [Member]
Property, plant and equipment, net (Details) - Schedule of property, plant and equipment, net [Line Items]
Balance beginning	[2]	4,261	3,354
Disposals	[2]	(16)	(7)
Net book value	[2]	3,523	4,261
Depreciation expense	[2]	548	978
Effect of exchange differences in foreign currency	[2]	(472)	(64)
Reclassifications and others	[2]	(798)
Balance ending	[2]	$ 3,523	$ 4,261
[1]	Refer to Note 2.4
[2]	Other’ includes computer equipment and other office furniture and equipment.

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Disclosure of leases [text block] [Abstract]
Administrative costs	$ 3,633	$ 3,784
Cost of goods sold	590	814
Acquisition transaction amount	4,533
Acquisition transaction pending balance	4,533
Cash outflow for leases	$ 8,854	$ 5,733

Leases (Details) - Schedule of

Leases (Details) - Schedule of reconciliation of asset balances - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020
Leases (Details) - Schedule of reconciliation of asset balances [Line Items]
Balance as of begining	[1]	$ 43,195	$ 38,296
Addition to right-of-use asset		7,282	11,022
Depreciation		(4,223)	(4,598)
Derecognition of contracts		(270)
Reclassifications and others		(628)
Effect of changes in foreign exchange rates		(5,189)	(1,525)
Balance as of ending		40,167	43,195	[1]
Land and Buildings [Member]
Leases (Details) - Schedule of reconciliation of asset balances [Line Items]
Balance as of begining		34,886	30,874
Addition to right-of-use asset		6,573	8,543
Depreciation		(3,311)	(3,345)
Derecognition of contracts		(126)
Reclassifications and others		559
Effect of changes in foreign exchange rates		(4,188)	(1,186)
Balance as of ending		34,393	34,886
Equipment and Machinery [Member]
Leases (Details) - Schedule of reconciliation of asset balances [Line Items]
Balance as of begining		6,975	6,609
Addition to right-of-use asset		709	1,415
Depreciation		(463)	(744)
Derecognition of contracts		(58)
Reclassifications and others		(1,155)
Effect of changes in foreign exchange rates		(932)	(305)
Balance as of ending		5,076	6,975
Vehicles [Member]
Leases (Details) - Schedule of reconciliation of asset balances [Line Items]
Balance as of begining		32	79
Addition to right-of-use asset			(12)
Depreciation			(34)
Derecognition of contracts
Reclassifications and others		(32)
Effect of changes in foreign exchange rates			(1)
Balance as of ending			32
Computers [Member]
Leases (Details) - Schedule of reconciliation of asset balances [Line Items]
Balance as of begining		1,302	734
Addition to right-of-use asset			1,076
Depreciation		(449)	(475)
Derecognition of contracts		(86)
Reclassifications and others
Effect of changes in foreign exchange rates		(69)	(33)
Balance as of ending		$ 698	$ 1,302
[1]	Refer to Note 2.4

Leases (Details) - Schedule o_2

Leases (Details) - Schedule of group’s lease liabilities are guaranteed by the lessor’s title to the leased assets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Schedule of group’s lease liabilities are guaranteed by the lessor’s title to the leased assets [Abstract]
Non-current	$ 21,894	$ 26,537
Current	9,853	10,262
Total	$ 31,747	$ 36,799	$ 29,794

Leases (Details) - Schedule o_3

Leases (Details) - Schedule of consolidated statement of profit or loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Schedule of consolidated statement of profit or loss [Abstract]
Interest on lease liabilities	$ 720	$ 601	$ 771
Expense relating to low value assets	123	668
Expense relating to short term leases	$ 1,217	$ 828

Investment in joint ventures (D

Investment in joint ventures (Details)	12 Months Ended
	Dec. 31, 2021
Disclosure of joint ventures [text block] [Abstract]
Voting rights percentage	50.00%

Investment in joint ventures _2

Investment in joint ventures (Details) - Schedule of investment in joint ventures	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Investment in joint ventures (Details) - Schedule of investment in joint ventures [Line Items]
Name of joint venture	Promedical S.A.
Promedical S.A [Member]
Investment in joint ventures (Details) - Schedule of investment in joint ventures [Line Items]
Principal activity	Marketing and pharmaceuticals
Place of incorporation and principal place of business	Santa Cruz de la Sierra, Bolivia
Proportion of ownership interest and voting rights held by the Company	50.00%	50.00%

Investment in joint ventures _3

Investment in joint ventures (Details) - Schedule of financial information of joint venture - Promedical S.A [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Investment in joint ventures (Details) - Schedule of financial information of joint venture [Line Items]
Current assets	$ 10,324	$ 11,672
Non-current assets	3,136	2,551
Current liabilities	6,231	5,899
Non-current liabilities	795	1,890
Equity	6,434	6,434
Revenue	23,704	19,428
Profit/(loss) for the year	1,423	1,612
Total comprehensive income	$ 1,423	$ 1,612

Investment in joint ventures _4

Investment in joint ventures (Details) - Schedule of carrying amount of the company’s interest in Promedical S.A - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020		Dec. 31, 2019	[1]
Schedule of carrying amount of the company’s interest in Promedical S.A [Abstract]
Net assets of Promedical S.A.	$ 6,434	$ 6,434
Proportion of the Company’s ownership interest in Promedical S.A.	3,217	3,217
Other adjustments	(774)	(757)
Carrying amount of the Company’s interest in Promedical S.A.	$ 2,443	$ 2,460	[1]	$ 1,390
[1]	Refer to Note 2.4

Inventories, Net (Details)

Inventories, Net (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Disclosure of inventories [text block] [Abstract]
Inventories recognized	$ 174,029	$ 140,153
Recognized as marketing expenses	3,867	4,062
Write-down to net realizable value	$ 5,391	$ 1,616

Inventories, Net (Details) - Sc

Inventories, Net (Details) - Schedule of inventories, net - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Schedule of inventories, net [Abstract]
Raw materials and supplies	$ 38,024	$ 30,198
Products in process	6,240	5,960
Finished products and merchandise	31,791	27,886
Inventory in transit	9,645	5,374
Subtotal	85,700	69,418
Less: Provision	(6,270)	(5,134)
Total	$ 79,430	$ 64,284

Trade and other receivables, _3

Trade and other receivables, net (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Disclosure of trade and other receivables [text block] [Abstract]
Discount and return provision amounts	$ 7,345	$ 3,878

Trade and other receivables, _4

Trade and other receivables, net (Details) - Schedule of trade and other receivables, net - USD ($) $ in Thousands		Dec. 31, 2021	Dec. 31, 2020
Schedule of trade and other receivables, net [Abstract]
Trade receivables, net of discounts	[1]	$ 111,071	$ 95,819
Impairment of trade receivables		(8,755)	(9,573)
Other receivables		15,132	10,247
Trade receivables, net of discounts and impairment		$ 117,449	$ 96,493
[1]	Discount and return provision amounts to $7,345 (2020: $3,878).

Borrowings (Details)

Borrowings (Details) $ in Millions	Nov. 12, 2021USD ($)	Sep. 01, 2017	Sep. 30, 2021USD ($)	Dec. 23, 2019	Nov. 20, 2018USD ($)	Nov. 20, 2018COP ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Borrowings (Details) [Line Items]
Loan amounts					$ 35,000,000	$ 200,434
Loan installment term							5 years
Percentage of interest rate							5.30%
Internal rate		12.00%					1.00%
Financial commitments of description							●Indebtedness Indicator (Indebtedness/EBITDA) as of June 30 and December 30 of each year, during the loan term, must be less than or equal to 3.5 times. If the indicator is greater than 3.0 and less than 3.5, it proceeds to the extent that this value is originated by causes other than additional debt and the justification of the increase must be presented to the agent.    ●Short-term leverage ratio < 1.0 on the last day of each semester.     ●EBITDA ratio / financial expenses = or > 3.0 on the last day of each semester.
Other commitments of description							●The syndicated credit agreement establishes that each of the jointly obligated parties, unless they have the express, prior and written authorization of the Agent, will refrain from incurring any type of financial debt when the proforma indebtedness indicator, once acquired the additional financial debt, is greater than 3.0 times and maintaining any type of financial debt when the pro forma indebtedness indicator, once the national debt is acquired, is greater than 3.5 times.    ●Each of the joint obligated parties, except with express, prior and written authorization of the Agent to do otherwise, will refrain from contracting finance and/or operating lease obligations with purchase option with a joint balance payable greater than $85,000,000 (Eighty-Five Billion Pesos, local currency) or its equivalent in another currency. For purposes of clarity, the reclassification of obligations as financial lease obligations by application of the Accounting Standards will not consume the balance set forth herein and may not be renewed.     ●The payment of dividends is restricted to anyone other than the jointly obligated parties.
Agreement term description		On September 1, 2017, the Company and IFC entered into various agreements, including an agreement that granted the right to IFC to put back all or some of the 410,755 ordinary shares it holds in the Company, during a three year period after the eight anniversary of such agreement, in exchange for cash.		December 23, 2019 that granted the right to Hoche to put back all or some of the 492,320 ordinary shares it holds in the Company, during a three year period after the eight anniversary after September 1, 2017, in exchange for cash. The amount payable by the Company, if Hoche exercised its option, would have been equal to an amount that generates a 12% internal rate of return over Hoche’s subscription.
Pledge ordinary shares percentage							37.00%
Description of covenants established							●Do not incur any financial debt to any shareholder of the Company or any of its Subsidiaries in excess of US$ 3,000,000, beyond the existing shareholder loans set forth in the consolidated audited financial statements of the Company; provided, however, that any Financial Debt to any such shareholder of the Company or any of its Subsidiaries below US$ 3,000,000, shall not require IFC/Hoche consent so long as such Financial Debt is on market terms or terms more favorable for the Company or any Subsidiaries;    ●Do not enter into any obligation outside of the normal course of business with a consideration in excess of 4% of the total assets of the Company as reported in the last available consolidated audit financial statements of the Company for the most recent Financial Year.     ●Do not enter into any commitments for acquisitions of other entities (whether by the acquisition of shares, assets, or otherwise) where the aggregate consideration of all such commitments in any financial year is in excess of 4% of the total assets of the Company as reported in the latest available consolidated audited financial statements of the Company for the most recent Financial Year     ●Do not incur any financial debt if the Debt-to-Ebitda Ratio of the Company would exceed 3,5x, provided, that for so long as 2 independent directors have not been appointed to the board, the financial entity´s consent shall be required prior to the Company or any Subsidiary incurring additional Financial Debt if the Debt-Ebitda Ratio would exceed 3,25x.
Recognized true-up amount			$ 35,920,000
Aggregate principal amount	$ 115,000,000
Aggregate principal amount percentage	4.75%
Description of debt							Debt issuance costs related to the Senior Notes of $2,142, comprised of commissions payable to the initial purchasers of $1,390 and attorneys’ costs of $752, were allocated to the liability of the Notes based on their relative values.
Maturity date							1 year
Invoices from suppliers							$ 48,138,000	$ 22,426,000	$ 22,486
Other Non cash Items							7,283,000	$ 11,022,000	$ 5,335
Issuance of put option agreements							$ 99,616
IFC [Member]
Borrowings (Details) [Line Items]
Internal rate							15.00%
COP and Libor [Member]
Borrowings (Details) [Line Items]
Internal rate							4.80%
Senior Notes require Procaps, S.A. [Member]
Borrowings (Details) [Line Items]
Description of financial ratios:							●A consolidated total debt of Procaps, S.A., the Company and the other obligors thereunder to consolidated EBITDA for the last twelve months of 3.50:1.00 or less, measured at certain dates of determination and; ●An EBITDA interest coverage ratio (calculated as the consolidated EBITDA for the last twelve months of Procaps, S.A., the Company and the other obligors thereunder divided by the consolidated interest expenses of Procaps, S.A., the Company and the other obligors thereunder) in excess of, or equal to, 3.00:1.00, calculated at certain dates of determination.

Borrowings (Details) - Schedule

Borrowings (Details) - Schedule of unsecured borrowings at amortized cost - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020		Dec. 31, 2019		Dec. 31, 2018
Unsecured borrowings at amortized cost
Syndicated term loan	$ 46,505	$ 81,906		$ 88,781
Other term loan	51,593	85,645		75,008
Lease liabilities	31,747	36,799		29,794
Factoring obligations	10,609	9,993		11,927
Put option agreement		239,273		211,880
Bank overdrafts	55	902		3,047
Notes	112,857
Total Interest bearing liabilities	253,366	454,518		420,437		$ 305,177
Current	74,646	114,780	[1]	99,975	[1]
Non- Current	$ 178,720	$ 339,738	[1]	$ 320,462	[1]
[1]	Refer to Note 2.4

Borrowings (Details) - Schedu_2

Borrowings (Details) - Schedule of borrowings - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Borrowings (Details) - Schedule of borrowings [Line Items]
Total Syndicated term loan	$ 46,505	$ 81,906	$ 88,781
Total Other term loans	51,593	85,645	75,008
Total Lease liabilities	31,747	36,799	29,794
Total Factoring	10,609	9,993	11,927
Total Put option		239,273	211,880
Total Senior Notes	$ 112,857
Syndicated Term Loan One [Member]
Borrowings (Details) - Schedule of borrowings [Line Items]
Currency	COP
Range of Interest	IBR+ 5.3% (Variable)
Maturity Year	2025
Total Syndicated term loan	$ 39,521	51,970	57,492
Syndicated Term Loan Two [Member]
Borrowings (Details) - Schedule of borrowings [Line Items]
Currency	USD
Range of Interest	Libor+ 4.8% (Variable)
Maturity Year	2025
Total Syndicated term loan	$ 7,850	31,150	32,900
Amortized Cost [Member]
Borrowings (Details) - Schedule of borrowings [Line Items]
Currency	COP
Range of Interest
Maturity Year	2025
Total Syndicated term loan	$ (866)	(1,214)	(1,611)
Other Term Loan One [Member]
Borrowings (Details) - Schedule of borrowings [Line Items]
Currency	COP
Range of Interest	IBR+ 2.25%-5.0% (Variable)
Maturity Year	2022-2024
Total Other term loans	$ 9,442	12,205	9,939
Other Term Loan Two [Member]
Borrowings (Details) - Schedule of borrowings [Line Items]
Currency	COP
Range of Interest	DTF + 6.74%
Maturity Year	2022
Total Other term loans	$ 3,154	6,161	6,904
Other Term Loan Three [Member]
Borrowings (Details) - Schedule of borrowings [Line Items]
Currency	COP
Range of Interest	24% (Fixed)
Maturity Year	2021
Total Other term loans		1,296	12
Other Term Loan Four [Member]
Borrowings (Details) - Schedule of borrowings [Line Items]
Currency	SOL
Range of Interest	5.00% - 10.01% (Fixed)
Maturity Year	2021-2024
Total Other term loans	$ 5,953	7,499	4,392
Other Term Loan Five [Member]
Borrowings (Details) - Schedule of borrowings [Line Items]
Currency	REAIS
Range of Interest	9.84% - 13.08% (Fixed)
Maturity Year	2021-2024
Total Other term loans	$ 1,762	7,436	1,633
Other Term Loan Six [Member]
Borrowings (Details) - Schedule of borrowings [Line Items]
Currency	USD
Range of Interest	Libor + 4.49%
Maturity Year	2022
Total Other term loans	$ 739
Other Term Loan Seven [Member]
Borrowings (Details) - Schedule of borrowings [Line Items]
Currency	USD
Range of Interest	Libor + 2.99% / 6.5% - 8.7% (fixed)
Maturity Year	2022-2024
Total Other term loans	$ 16,145	40,808	43,827
Other Term Loan Eight [Member]
Borrowings (Details) - Schedule of borrowings [Line Items]
Currency	COP
Range of Interest	10.00% -30.00%
Maturity Year	2022
Total Other term loans	$ 14,398	10,240	8,301
Lease Liabilities One [Member]
Borrowings (Details) - Schedule of borrowings [Line Items]
Currency	COP
Range of Interest	DTF +5.18% - DTF 10.11% T.A. IBR + 7.50%
Maturity Year	2030
Total Lease liabilities	$ 10,334	15,945	15,164
Lease Liabilities Two [Member]
Borrowings (Details) - Schedule of borrowings [Line Items]
Currency	COP
Range of Interest	DTF+ 4.54% + DTF 8.5%T.A. + DTF+10.42%
Maturity Year	2025
Total Lease liabilities	$ 6,662	7,524	6,930
Lease Liabilities Three [Member]
Borrowings (Details) - Schedule of borrowings [Line Items]
Currency	COP
Range of Interest	DTF+17% / (DTF+13.72%)
Maturity Year	2022
Total Lease liabilities		676	706
Lease Liabilities Four [Member]
Borrowings (Details) - Schedule of borrowings [Line Items]
Currency	USD
Range of Interest	14.70% E.A.
Maturity Year	2023
Total Lease liabilities		740
Lease Liabilities Five [Member]
Borrowings (Details) - Schedule of borrowings [Line Items]
Currency	USD
Range of Interest	9.28% T.A.
Maturity Year	2022
Total Lease liabilities		86	247
Lease Liabilities Six [Member]
Borrowings (Details) - Schedule of borrowings [Line Items]
Currency	USD
Range of Interest	9.75% N.M.
Maturity Year	2021
Total Lease liabilities		103
Lease Liabilities Seven [Member]
Borrowings (Details) - Schedule of borrowings [Line Items]
Currency	COP
Range of Interest	8.29% - 21.48% E.A.
Maturity Year	2027
Total Lease liabilities	$ 14,689	11,591	6,422
Lease Liabilities Eight [Member]
Borrowings (Details) - Schedule of borrowings [Line Items]
Currency	Reales
Range of Interest	1.68% (Fixed)
Maturity Year	2022
Total Lease liabilities	$ 62	134	325
Portfolio Factoring One [Member]
Borrowings (Details) - Schedule of borrowings [Line Items]
Currency	COP
Range of Interest	DTF+8% / 24.6%   (Fixed)
Maturity Year	2022
Total Factoring	$ 1,383	8,074	4,731
Portfolio Factoring Two [Member]
Borrowings (Details) - Schedule of borrowings [Line Items]
Currency	Reales
Range of Interest	12% (Fixed)
Maturity Year	2021
Total Factoring			5,679
Portfolio Factoring Three [Member]
Borrowings (Details) - Schedule of borrowings [Line Items]
Currency	COP
Range of Interest	DTF+8%  / 24.6%  (Fixed)
Maturity Year	2022
Total Factoring	$ 9,226	1,919	1,517
IFC [Member]
Borrowings (Details) - Schedule of borrowings [Line Items]
Currency	USD
Range of Interest	12%
Maturity Year	2028
Total Put option		127,821	112,263
Hoche [Member]
Borrowings (Details) - Schedule of borrowings [Line Items]
Currency	USD
Range of Interest	12%
Maturity Year	2028
Total Put option		111,452	99,617
Overdrafts and Credit Cards [Member]
Borrowings (Details) - Schedule of borrowings [Line Items]
Currency	COP
Range of Interest	19.68% - 32% E.A.   (Fixed)
Maturity Year	2022
Overdrafts and credit cards	$ 55	902	3,047
The Prudential Insurance Company Of America [Member]
Borrowings (Details) - Schedule of borrowings [Line Items]
Currency	USD
Range of Interest	4.75% (Fixed)
Maturity Year	2031
Total Senior Notes	$ 58,906
Prudential Annuities Life Assurance Corporation [Member]
Borrowings (Details) - Schedule of borrowings [Line Items]
Currency	USD
Range of Interest	4.75% (Fixed)
Maturity Year	2031
Total Senior Notes	$ 29,423
Healthspring Life & Health Insurance Company, Inc [Member]
Borrowings (Details) - Schedule of borrowings [Line Items]
Currency	USD
Range of Interest	4.75% (Fixed)
Maturity Year	2031
Total Senior Notes	$ 18,007
CIGNA Health and Life Insurance Company [Member]
Borrowings (Details) - Schedule of borrowings [Line Items]
Currency	USD
Range of Interest	4.75% (Fixed)
Maturity Year	2031
Total Senior Notes	$ 6,521

Borrowings (Details) - Schedu_3

Borrowings (Details) - Schedule of reconciliation of liabilities from financing activities - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2021		Dec. 31, 2020		Dec. 31, 2019
Borrowings (Details) - Schedule of reconciliation of liabilities from financing activities [Line Items]
Beginning balance		$ 454,518		$ 420,437		$ 305,177
Payment cash flows		(281,155)		(126,319)		(122,487)
New liabilities		336,216	[1]	140,184	[1]	223,829
Other changes		(256,213)	[2]	20,216	[2]	13,918
Ending balance		253,366		454,518		420,437
Syndicated Term Loan [Member]
Borrowings (Details) - Schedule of reconciliation of liabilities from financing activities [Line Items]
Beginning balance		81,906		88,781		94,919
Payment cash flows		(28,239)		(4,670)		(5,770)
New liabilities			[1]		[1]
Other changes		(7,162)	[2]	(2,205)	[2]	368
Ending balance		46,505		81,906		88,781
Other Term Loan [Member]
Borrowings (Details) - Schedule of reconciliation of liabilities from financing activities [Line Items]
Beginning balance		85,645		75,008		66,773
Payment cash flows		(224,380)		(76,942)		(75,235)
New liabilities		193,120	[1]	94,122	[1]	80,859
Other changes		(2,792)	[2]	(6,543)	[2]	2,611
Ending balance		51,593		85,645		75,008
Lease liabilities [member]
Borrowings (Details) - Schedule of reconciliation of liabilities from financing activities [Line Items]
Beginning balance		36,799		29,794		30,843
Payment cash flows		(8,854)		(5,733)		(4,070)
New liabilities		7,283	[1]	11,022	[1]	5,335
Other changes		(3,481)	[2]	1,716	[2]	(2,314)
Ending balance		31,747		36,799		29,794
Factoring Obligations [Member]
Borrowings (Details) - Schedule of reconciliation of liabilities from financing activities [Line Items]
Beginning balance		9,993		11,927		12,807
Payment cash flows		(18,779)		(38,953)		(37,412)
New liabilities		22,956	[1]	35,040	[1]	38,019
Other changes		(3,561)	[2]	1,979	[2]	(1,487)
Ending balance		10,609		9,993		11,927
Put Option Agreement [Member]
Borrowings (Details) - Schedule of reconciliation of liabilities from financing activities [Line Items]
Beginning balance		239,273		211,880		98,599
Payment cash flows
New liabilities			[1]		[1]	99,616
Other changes		(239,273)	[2]	27,393	[2]	13,665
Ending balance				239,273		211,880
Bank Overdraft [Member]
Borrowings (Details) - Schedule of reconciliation of liabilities from financing activities [Line Items]
Beginning balance		902		3,047		1,236
Payment cash flows		(903)		(21)
New liabilities			[1]		[1]
Other changes		56	[2]	(2,124)	[2]	1,811
Ending balance		55		902		$ 3,047
Senior Notes [Member]
Borrowings (Details) - Schedule of reconciliation of liabilities from financing activities [Line Items]
Beginning balance
Payment cash flows
New liabilities	[1]	112,857
Other changes	[2]
Ending balance		$ 112,857
[1]	New liabilities include non-cash activities for invoices from suppliers financed via reverse factoring $48,138 (2020: $22,426, 2019: $22,486) and acquisition of right-of-use assets $7,283 (2020: $11,022, 2019: $5,335). For the year ended December 31, 2019, it also included the issuance of put option agreements for $99,616.
[2]	Other changes include exchange differences and in 2021 the termination of the put option agreements in exchange for new equity instruments in Procaps Group S.A. Refer to Note 19.5. Put option agreement

Deferred tax (Details)

Deferred tax (Details) - Rymco Medical [Member] $ in Thousands	Dec. 31, 2021USD ($)
Deferred tax (Details) [Line Items]
Deferred tax assets	$ 1,135
Temporary differences	$ 3,242

Deferred tax (Details) - Schedu

Deferred tax (Details) - Schedule of deferred tax assets and liabilities by type of temporary - Temporary Difference [Member] - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Net deferred tax asset (liability)
Trade and other receivables	$ (1,357)	$ (3,301)
Inventories	3,142	1,735
Property, plant and equipment	(3,486)	(6,817)
Intangibles	(875)	(634)
Borrowings and Trade and other payables	3,639	3,071
Provisions and Other liabilities	1,005	737
Others	(1,071)	8,088
Total net deferred tax asset (liability)	$ 997	$ 2,879

Deferred tax (Details) - Sche_2

Deferred tax (Details) - Schedule of deferred tax assets and liabilities - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020		Dec. 31, 2019		Dec. 31, 2018
Schedule of deferred tax assets and liabilities [Abstract]
Deferred Tax Asset	$ 7,067	$ 21,769	[1]	$ 16,215	[1]
Deferred Tax Liability	(6,070)	(18,890)	[1]	(7,659)	[1]
Net Deferred Tax Asset (Liability)	$ 997	$ 2,879		$ 8,556		$ 7,396
[1]	Refer to Note 2.4

Deferred tax (Details) - Sche_3

Deferred tax (Details) - Schedule of deferred tax - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Schedule of deferred tax [Abstract]
Beginning balance		$ 2,879	$ 8,556	$ 7,396
Recognized in Profit and Loss		(1,455)	(3,805)	1,083
Recognized in Other Comprehensive Income 1	[1]	(58)	16	(43)
Others	[2]	(369)	(1,888)	120
Ending balance		$ 997	$ 2,879	$ 8,556
[1]	Deferred tax related to employee defined benefit plans.
[2]	Deferred tax related to the purchase price acquisition of intangible assets in Procaps S.A. de C.V. (previously Laboratorios Lopez S.A. de C.V.).

Trade and Other Payables, Net_2

Trade and Other Payables, Net (Details) - Schedule of trade and other payables, net - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020		Dec. 31, 2019
Trade and Other Payables, Net (Details) - Schedule of trade and other payables, net [Line Items]
Trade payables	$ 70,167
Other payables
Trade current accounts	3,259
Interest payable	1,870
Withholdings and payroll contributions	6,619
Others	3,466
Total other payables	15,214
Total accounts payable	$ 85,381	$ 94,116	[1]	$ 104,608	[1]
Restated [Member]
Trade and Other Payables, Net (Details) - Schedule of trade and other payables, net [Line Items]
Trade payables		84,480		94,207
Other payables
Trade current accounts		4,430		4,277
Interest payable		2,236		1,525
Withholdings and payroll contributions		2,831		3,243
Others		139		1,356
Total other payables		9,636		10,401
Total accounts payable		$ 94,116		$ 104,608
[1]	Refer to Note 2.4

Provisions and contingencies (D

Provisions and contingencies (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Provisions and contingencies (Details) [Line Items]
Provisions for impact of transfer pricing		$ 354	$ 173
Proposed sanction amount	$ 954
Softcaps legal proceedings [Member]
Provisions and contingencies (Details) [Line Items]
Total balance	459	630	1,777
Total balance	60	108	248
Administrative litigation	52	154	1,032
Tax litigation	347	368	419
Rymco Medical legal proceedings [Member]
Provisions and contingencies (Details) [Line Items]
Opening balance		38	38
Procaps legal proceedings [Member]
Provisions and contingencies (Details) [Line Items]
Total balance	$ 42	845	326
Legal proceedings of Industrias Kadima [Member]
Provisions and contingencies (Details) [Line Items]
Opening balance		$ 67	$ 67

Provisions and contingencies _2

Provisions and contingencies (Details) - Schedule of provisions and contingencies - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021		Dec. 31, 2020		Dec. 31, 2019
Contingencies
Balance as of January 1	$ 1,829	[1]	$ 2,276	[1]	$ 2,379
Effect of changes in foreign exchange rates	(209)		(387)		(77)
Provisions made			761		12
Provisions used	(1,119)		(821)		(38)
Balance as of December 31	$ 501		$ 1,829	[1]	$ 2,276	[1]
[1]	Refer to Note 2.4

Shareholder's equity (Details)

Shareholder's equity (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2019	Dec. 31, 2020
Shareholder's equity (Details) [Line Items]
Shares authorized		800,000,000	2,493,391	2,001,071
Cent			one
Number of shares issued		112,824,184
Ordinary share value			2,493,391	2,001,071
Ordinary share vote		one
Right to dividend		one
Opco shares issued		10,464,612
Holdco ordinary share (in Dollars)		$ 92,628,689
Exchange ratio		33.4448%
Aggregate subscription price (in Dollars)		$ 201,955
Total aggregate amount (in Dollars)		202
SPAC sponsors (in Dollars)		$ 0.1250000
Ordinary shares issued		11,714,612
Payments of other equity instruments (in Dollars)		$ 101,859
Recognized finance expenses (in Dollars)		4,506
Redeemed share	4,500,000
Purchase price (in Dollars)	$ 45,000,000	$ 45,000,000
Redeemable A Shares [Member]
Shareholder's equity (Details) [Line Items]
Redeemable shares		4,000,000
Holdco Redeemable B Shares [Member]
Shareholder's equity (Details) [Line Items]
Redeemable shares		4,500,000
Holdco ordinary shares		4,500,000
OpCo Ordinary Shares [Member]
Shareholder's equity (Details) [Line Items]
Opco shares issued		97,128,690
Outstanding shares		2,904,146
Holdco Redeemable B Shares [Member]
Shareholder's equity (Details) [Line Items]
Redeemable B shares		4,500,000

Shareholder's equity (Details)

Shareholder's equity (Details) - Schedule of reconciliation of share capital and share premium - USD ($)		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Number of shares [Member]
Shareholder's equity (Details) - Schedule of reconciliation of share capital and share premium [Line Items]
Balance pre-restructuring (in Shares)		2,001,071	2,001,071	2,493,391
Issuance of put option with Hoche (in Shares)				(492,320)
Termination of put option agreements (in Shares)	[1]	903,075
Acquisition of Union Acquisition Corp. II (in Shares)	[2]	20,195,494
Escrowed shares (in Shares)	[3]	(11,714,612)
Redemption of redeemable shares (in Shares)	[4]	(4,500,000)
Subtotal (in Shares)		2,904,146		2,001,071
Capital restructuring of Crynssen (1:33.4448 exchange ratio) (in Shares)	[5]	94,224,544	64,924,413	64,924,413
Subtotal - restructured (in Shares)		97,128,690
Balance restructured (in Shares)		101,109,572	66,925,484	66,925,484
Share capital amount [Member]
Shareholder's equity (Details) - Schedule of reconciliation of share capital and share premium [Line Items]
Balance pre-restructuring		$ 2,001	$ 2,001	$ 2,493
Issuance of put option with Hoche				(492)
Termination of put option agreements	[1]	903
Acquisition of Union Acquisition Corp. II	[2]	202
Escrowed shares	[3]	(117)
Redemption of redeemable shares	[4]	(45)
Subtotal		2,904		2,001
Capital restructuring of Crynssen (1:33.4448 exchange ratio)	[5]	(1,933)	(1,332)	(1,332)
Subtotal - restructured		971
Balance restructured		1,011	669	669
Share premium [Member]
Shareholder's equity (Details) - Schedule of reconciliation of share capital and share premium [Line Items]
Balance pre-restructuring		54,412	54,412	120,151
Issuance of put option with Hoche				(65,739)
Termination of put option agreements	[1]	297,796
Acquisition of Union Acquisition Corp. II	[2]	174,738
Escrowed shares	[3]	(106,247)
Redemption of redeemable shares	[4]	(44,955)
Subtotal		352,208		54,412
Capital restructuring of Crynssen (1:33.4448 exchange ratio)	[5]	1,933	1,332	1,332
Subtotal - restructured		354,141
Balance restructured		$ 377,677	$ 55,744	$ 55,744
[1]	On the effectiveness of the Transaction, September 29, 2021, the put option agreements were terminated in exchange for new equity instruments in Procaps Group SA.
[2]	SPAC Ordinary Shares outstanding (including those held by the PIPE Investors and Union Group International Holdings Limited and Union Acquisition Associates II, LLC (the “SPAC Sponsors”) were exchanged with Holdco for Holdco Ordinary Shares pursuant to a share capital increase of Holdco.
[3]	1,250,000 Holdco Ordinary Shares issued to the SPAC Sponsors and 10,464,612 Holdco Ordinary Shares issued to certain Opco Shareholders in connection with the Transaction are subject to an escrow arrangement that is applicable to both SPAC Sponsors and to such OpCo Shareholders. On September 29, 2021, considering that the condition to deliver a fixed number of shares for a consideration that is settled in One’s own equity instruments is not met for the 11,714,612 Holdco Ordinary Shares issued to the SPAC Sponsors and certain Opco Shareholders, the escrow shares were classified as a financial liability with changes in fair value through profit and loss. As of December 31, 2021 shares to be delivered are presented at fair value as non-current liabilities for the amount of $101,859, representing a decrease of $4,506 recognized in Finance expenses, net.
[4]	Immediately following the Exchange, the Company redeemed 4,500,000 Holdco Redeemable B from IFC for a total purchase price of $45,000 in accordance with that certain share redemption agreement entered into by and between the Company and IFC on March 31, 2021, and subsequently amended on September 29, 2021.
[5]	On completion of the Transaction, each of the OpCo Shareholders, contributed its respective OpCo Ordinary Shares to Holdco in exchange for Holdco Ordinary Shares, and, in the case of IFC for Holdco Ordinary Shares and 4,500,000 Holdco Redeemable B Shares, subscribed for by each OpCo Shareholder. The OpCo Shareholders were issued 97,128,690 new shares in the Company (92,628,689 Holdco Ordinary Shares and 4,500,000 Holdco Redeemable B Shares) in exchange of the 2,904,146 outstanding OpCO ordinary Shares. The resultant share exchange ratio being 33.4448.

Shareholder's equity (Details_2

Shareholder's equity (Details) - Schedule of aggregate subscription price - Asset Acquisition Union Acquisition Corp II SPAC [Member]	12 Months Ended
	Dec. 31, 2021shares
Number of shares [Member]
Shareholder's equity (Details) - Schedule of aggregate subscription price [Line Items]
Public shares	5,895,494
Founder shares	4,300,000
PIPE Shares	10,000,000
Total	20,195,494
Aggregate value [Member]
Shareholder's equity (Details) - Schedule of aggregate subscription price [Line Items]
Public shares	58,955
Founder shares	43,000
PIPE Shares	100,000
Total	201,955

Shareholder's equity (Details_3

Shareholder's equity (Details) - Schedule of cost-basis of the exchange reflects - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Shareholder's equity (Details) - Schedule of cost-basis of the exchange reflects [Line Items]
IFRS 2 Share-based payment expense	[1]	$ 73,917
Total		174,738
Asset Acquisition Union Acquisition Corp II SPAC [Member]
Shareholder's equity (Details) - Schedule of cost-basis of the exchange reflects [Line Items]
SPAC net assets		131,086
Transactions costs		(30,063)
IFRS 2 Share-based payment expense		73,917
Share Capital issued		$ (202)
[1]	Corresponds to the difference between the fair value of the net assets received through the SPAC and the value of the equity interest issued, adjusted by dilutive effect of shares held in escrow at a weighted average fair value per share. Refer to Note 26.1. Reverse reorganization for further information related to the Transaction.

Shareholder's equity (Details_4

Shareholder's equity (Details) - Schedule of reserves - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2021		Dec. 31, 2020		Dec. 31, 2019
Schedule of reserves [Abstract]
Legal	[1]	$ 4,892		$ 4,892		$ 4,892
Working Capital	[2]	37,857		35,005		23,789
Total		42,749		39,897	[3]	28,681	[3]
Balance as of January 1		39,897	[3]	28,681	[3]	28,322
Increase in legal reserves						31
Increase in working capital reserves		2,852		11,216		328
Balance as of December 31		$ 42,749		$ 39,897	[3]	$ 28,681	[3]
[1]	Legal Reserve -
[2]	Reserves for working capital –
[3]	Refer to Note 2.4

Earnings Per Share (Details)

Earnings Per Share (Details)	12 Months Ended
	Dec. 31, 2021shares
Put Option [member]
Earnings Per Share (Details) [Line Items]
Shares held	903,075

Earnings Per Share (Details) -

Earnings Per Share (Details) - Schedule of weighted average number of shares considers the ordinary shares - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020		Dec. 31, 2019
Schedule of weighted average number of shares considers the ordinary shares [Abstract]
Net loss of the year (in Dollars)		$ (100,863)	$ (10,447)	[1]	$ (17,013)	[1]
Number of ordinary shares issued as at December 31	[2]	101,110,000	97,129,000		97,129,000
Weighted average basic number of ordinary shares		98,143,000	97,129,000		97,129,000
Assumed exercise of share equivalents
Weighted average diluted number of shares		98,143,000	97,129,000		97,129,000
Basic and diluted loss per share in the year (in Dollars per share)		$ (1.03)	$ (0.11)		$ (0.18)
[1]	Refer to Note 2.4
[2]	Includes 903,075 shares held under put option before the transaction as such ordinary shareholders were entitled to receive dividends.

Warrant Liabilities (Details)

Warrant Liabilities (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2021	Sep. 30, 2021
Warrant Liabilities (Details) [Line Items]
Private warrants		2,875,000
Warrant per share, description		●Each whole warrant entitles the holder to purchase one ordinary share at an exercise price of $11.50 ●The warrant is exercisable post Transaction and expires on the earlier of:  –5 years after the completion of the Transaction, i.e. September 29, 2026  –the Redemption Date, or  –the liquidation of the Group.  ●The Group may redeem the outstanding warrants, in whole and not in part, at a price of $0.01 per warrant at any time while the warrants are exercisable upon a minimum of 30 days prior written notice of redemption:  –if, and only if, the last sales price of the common stock equals or exceeds $18.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalization and the like) on each of twenty (20) trading days within any thirty (30) trading day period ending on the third trading day prior to the date on which notice of redemption is given.  –however, that if and when the Public Warrants become redeemable by the Group, the Group may not exercise such redemption right if the issuance of Ordinary Shares upon exercise of the Public Warrants is not exempt from registration or qualification under applicable state blue sky laws or the Group is unable to effect such registration or qualification.  ●The Public Warrants may be exercised, for cash (or on a “cashless basis”) at any time after notice of redemption shall have been given by the Company and prior to the Redemption Date. The Public Warrants are redeemable on the occurrence of change in control (merger, re-organization, tender offer, exchange), and the Group does not have an unconditional right to avoid delivering cash, the Public Warrants meet the criteria for classification as a financial liability. In addition, Warrants may be settled in a variable number of shares in case of cashless basis of exercise. Therefore, the Public Warrants meet the criteria for classification as financial liability. Additionally, Public Warrants also meet the definition of a derivative, which may be settled other than by the exchange of a fixed amount of cash for a fixed number of the entity’s shares. Therefore, Public Warrants are derivatives that are classified as financial liability. The public warrants were traded on Nasdaq and the closing trade price on 29 September, 2021 was used to measure their fair value. On 30 September, 2021, the warrants had a fair value of $21,600 (20,000,000 warrants valued at $1.08 each), which is included as a Finance expense in the consolidated statement of profit or loss. Note 25.2. Private warrants     2021   2020   2019  As of January 1  $—   $—   $—  Acquired private warrants  $7,363   $—   $—  Fair value remeasurement  $(251)  $—   $—  As of December 31  $7,112   $—   $—   Simultaneously with the closing of the initial public offering of the SPAC, the SPAC consummated the sale of 6,250,000 warrants (the “SPAC Private Placement Warrants”) at a price of $1.00 per warrant in a private placement to the SPAC Sponsors, generating gross proceeds of $6,250. Pursuant to the Business Combination Agreement, the Company entered into an Assignment, Assumption and Amendment Agreement with SPAC and the Warrant Agent to amend and assume SPAC’s obligations under the existing Warrant Agreement and to give effect to the conversion of SPAC public warrants and SPAC Private Placement Warrants to Holdco public warrants and Holdco private warrants (the “Private Warrants”), respectively. Additionally, immediately prior to the consummation of the Transaction, the SPAC Sponsors forfeited 2,875,000 SPAC Private Placement Warrants and, in connection with consummation of the Transaction, placed 2,875,000 Private Warrants in escrow. The Private Warrants have the following terms:  ●Each warrant entitles the holder to purchase one ordinary share at an exercise price of $11.50 per share. Only whole warrants are exercisable.  ●Exercisable post Transaction and expires on the earlier of:  –5 years after the completion of the Transaction,  –the Redemption Date, or  –the liquidation of the Group.
Fair value (in Dollars)			$ 21,600
Warrants shares			20,000,000
Warrants per share (in Dollars per share)			$ 1.08
Sale of warrants		6,250,000
Private placement warrant per share (in Dollars per share)		$ 1
Generating gross proceeds (in Dollars)		$ 6,250
Forfeited shares of private placement warrants		2,875,000
Private warrants in escrow shares		2,875,000
Warrant purchase of ordinary per share (in Dollars per share)		$ 1
Exercise price of per share (in Dollars per share)		$ 11.5
Business combination expires		5 years
Sponsors agreed to forfeit of private placement warrants	2,875,000
Expiration date	5 years
First Level Release Target [Member]
Warrant Liabilities (Details) [Line Items]
Sponsor private warrants shares	1,437,500
Exceeds ordinary per shares (in Dollars per share)	$ 12.5
Expiration date	5 years
Second Level Release Target [Member]
Warrant Liabilities (Details) [Line Items]
Sponsor private warrants shares	1,437,500
Exceeds ordinary per shares (in Dollars per share)	$ 13

Warrant Liabilities (Details) -

Warrant Liabilities (Details) - Schedule of warrant liability - USD ($) $ in Thousands	Dec. 31, 2021		Dec. 31, 2020		Dec. 31, 2019		Dec. 31, 2018
Schedule of warrant liability [Abstract]
Public warrants	$ 16,000
Private warrants	7,112	[1]		[1]		[1]
Warrant liability	$ 23,112			[2]		[2]
[1]	Private warrants include 2,875,000 held by the former SPAC sponsors deposited in an escrow account.
[2]	Refer to Note 2.4

Warrant Liabilities (Details)_2

Warrant Liabilities (Details) - Schedule of public warrants - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Schedule of public warrants [Abstract]
Balance at beginning
Acquired public warrants	21,600
Warrants exercised
Fair value remeasurement	(5,600)
Balance at Ending	$ 16,000

Warrant Liabilities (Details)_3

Warrant Liabilities (Details) - Schedule of private warrants - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2021		Dec. 31, 2020		Dec. 31, 2019
Schedule of private warrants [Abstract]
Balance at beginning			[1]		[1]
Acquired private warrants		7,363
Fair value remeasurement		(251)
Balance at ending	[1]	$ 7,112
[1]	Private warrants include 2,875,000 held by the former SPAC sponsors deposited in an escrow account.

Acquisitions (Details)

Acquisitions (Details) ft² in Thousands, $ / shares in Millions	Nov. 05, 2021ft²$ / shares	Dec. 31, 2021USD ($)shares	Sep. 29, 2021USD ($)
Acquisitions (Details) [Line Items]
Current assets (liabilities)			$ 131,086,000
Current prepaid expenses		$ 4,602,000
Shares issued (in Shares) | shares		10,464,612
Asset purchase agreement to acquire (in Square Feet) | ft²	86,000
Production capacity (in Dollars per share) | $ / shares	$ 1,800
Purchase price (in Dollars per share) | $ / shares	$ 1.6
Transactions costs		$ 213,600
Purchase price percentage		50.00%
Remaining purchase price percentage		50.00%
Fair value of acquired assets		$ 1,813,000
Sponsors’ Holdco Ordinary Shares in escrow [Member]
Acquisitions (Details) [Line Items]
Description of shares in escrow		On the closing of the Transaction, 1,250,000 Holdco Ordinary Shares received in exchange for the equivalent number of SPAC Ordinary Shares upon the consummation of the Merger (the “Sponsor Escrowed Securities”) held by the SPAC Sponsors were deposited in escrow. Fifty percent (50%) of the Sponsor Escrowed Securities will be released to the SPAC Sponsors if the closing price of the Holdco Ordinary Shares on the Nasdaq Stock Market equals or exceeds $12.50 per Holdco Ordinary Share for any 20 trading days within any 30-day trading period, and the remaining 50% of the Sponsor Escrowed Securities will be released to the Sponsors if the closing price of the Holdco Ordinary Shares on the Nasdaq Stock Market equals or exceeds $13.00 per Holdco Ordinary Share for any 20 trading days within any 30-day trading period (in each case, subject to any applicable lock-up restrictions under the Registration Rights and Lock-Up Agreement or any other applicable escrow arrangement).
Eligible Procaps Shareholders Holdco Ordinary Shares in escrow [Member]
Acquisitions (Details) [Line Items]
Description of shares in escrow		On the closing of the Transaction, 10,464,612 Holdco Ordinary Shares received in the Exchange (the “ECS Escrowed Securities”) by certain OpCo Shareholders were deposited in escrow. Fifty percent (50%) of the ECS Escrowed Securities will be released to such OpCo Shareholders if the closing price of the Holdco Ordinary Shares on the Nasdaq Stock Market equals or exceeds $12.50 per Holdco Ordinary Share for any 20 trading days within any 30-day trading period, and the remaining 50% of the ECS Escrowed Securities will be released to such OpCo Shareholders if the closing price of the Holdco Ordinary Shares on the Nasdaq Stock Market equals or exceeds $13.00 per Holdco Ordinary Share for any 20 trading days within any 30-day trading period.
SPAC Sponsors [Member]
Acquisitions (Details) [Line Items]
Shares issued (in Shares) | shares		1,250,000
Opco Shareholders [Member]
Acquisitions (Details) [Line Items]
Description of shares in escrow		10,464,612

Acquisitions (Details) - Schedu

Acquisitions (Details) - Schedule of assets and liabilities - Asset Acquisition Union Acquisition Corp II SPAC [Member] $ in Thousands	Dec. 31, 2021USD ($)
Acquisitions (Details) - Schedule of assets and liabilities [Line Items]
Cash held in trust	$ 138,046
Cash and cash equivalents	100,000
Redemption liability	(77,997)
Warrants liability	(28,963)
Total SPAC identifiable net assets at fair value	$ 131,086

Acquisitions (Details) - Sche_2

Acquisitions (Details) - Schedule of transactions value of equity interest - Asset Acquisition Union Acquisition Corp II SPAC [Member] $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)
Step 1 - Deemed cost of shares issued
Fair value of OpCo	$ 926,287
Equity interest in Holdco issued to SPAC shareholders & PIPE investors	19.00%
Equity interest in Holdco of Selling shareholders	81.00%
Deemed costs of shares issued*	$ 213,584	[1]
SPAC identifiable net assets at fair value	131,086
Deemed cost of shares issued	82,498
Step 2 - Dilutive impact of shares held in escrow
Dilutive effect of 945,036 shares held in escrow at a weighted average fair value per share of $9.08	8,581
Step 3 - IFRS 2 ‘listing expense’	$ 73,917
[1]	The deem cost of the shares was estimated based on the fair value of the OpCo issued shares (legacy Crynssen Pharma Group Limited) prior to the merger with SPAC and Holdco.

Acquisitions (Details) - Sche_3

Acquisitions (Details) - Schedule of estimated fair values - Asset Acquisition Pharmaceutical Production Facility [Member] $ in Thousands	Dec. 31, 2021USD ($)
Acquisitions (Details) - Schedule of estimated fair values [Line Items]
Property, Plant and Equipment	$ 1,487
Inventories	133
Other receivables	193
Right of Use Assets	4,533
Lease Liabilities	(4,533)
Total	$ 1,813

Financial Instruments (Details)

Financial Instruments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Sep. 01, 2017
Financial Instruments (Details) [Line Items]
Receivable concentration	10.00%
Percentage of increase and decrease in the U.S. dollar	10.00%
Change in exchange rates, percentage	10.00%
Interest at a variable rate (in Dollars)	$ 87,421	$ 150,340
Variable rate, percentage	34.50%	32.26%
Interest rate Spread %	1.00%		12.00%
Decreased profit before tax (in Dollars)	$ 875	$ 1,503
Profit before tax, percentage	1.00%
Bottom of range [member]
Financial Instruments (Details) [Line Items]
Receivable concentration	5.00%
Sale of medicines	60 days
Payment period ranges	60 days
Top of range [member]
Financial Instruments (Details) [Line Items]
Sale of medicines	120 days
Payment period ranges	90 days
Level 1 [Member]
Financial Instruments (Details) [Line Items]
Fair value of the exhibited figures (in Dollars)	$ 16,000
Level 3 [Member]
Financial Instruments (Details) [Line Items]
Fair value of the exhibited figures (in Dollars)	$ 108,971

Financial Instruments (Detail_2

Financial Instruments (Details) - Schedule of carrying amounts of financial assets and financial liabilities - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2021		Dec. 31, 2020
FVTPL [Member]
Financial assets not measured at fair value
Trade and other receivables, net			[1]
Amounts owed by related parties			[1]
Cash			[1]
Other financial assets			[1]
Total financial assets not measured at fair value			[1]
Financial liabilities measured at fair value
Warrant liabilities		23,112	[1]
Shares held in escrow		101,859	[1]
Total financial liabilities measured at fair value		124,971	[1]
Financial liabilities not measured at fair value
Borrowings			[1]
Trade and other payables, net			[1]
Amounts owed to related parties			[1]
Total financial liabilities not measured at fair value			[1]
Amortized cost [Member]
Financial assets not measured at fair value
Trade and other receivables, net	[2]	117,449		96,493
Amounts owed by related parties	[2]			2,562
Cash	[2]	72,112		4,229
Other financial assets	[2]	256		761
Total financial assets not measured at fair value	[2]	189,817		104,045
Financial liabilities measured at fair value
Warrant liabilities	[2]
Shares held in escrow	[2]
Total financial liabilities measured at fair value	[2]
Financial liabilities not measured at fair value
Borrowings	[2]	253,365		442,359
Trade and other payables, net	[2]	85,381		106,275
Amounts owed to related parties	[2]	8,450		20,622
Total financial liabilities not measured at fair value	[2]	$ 347,196		$ 569,256
[1]	The fair value is comprised of $16,000 level 1 and $108,971 level 3 as of December 31, 2021.
[2]	The fair value is similar to their amortized cost as of December 31, 2021 and 2020, respectively.

Financial Instruments (Detail_3

Financial Instruments (Details) - Schedule of valuation techniques used in measuring Level 3 fair values for financial instruments in the statement of financial position - Level 3 of fair value hierarchy [member]	12 Months Ended
	Dec. 31, 2021
Warrants [Member]
Financial Instruments (Details) - Schedule of valuation techniques used in measuring Level 3 fair values for financial instruments in the statement of financial position [Line Items]
Valuation Technique	The fair value of the Private Warrants is estimated using the Black-Scholes option pricing formula for European calls, since the underlying stock is not expected to pay dividends over the term of the Warrants.
Significant unobservable input	Volatility
Inter-relationship between significant unobservable input and fair value measurement	The estimated fair value would increase (decrease) if the expected volatility were higher (lower).
Shares Held In Escrow [Member]
Financial Instruments (Details) - Schedule of valuation techniques used in measuring Level 3 fair values for financial instruments in the statement of financial position [Line Items]
Valuation Technique	The fair value of the shares to be delivered is estimated using Monte Carlo simulation in a risk-neutral framework assuming a Geometric Brownian Motion for the future stock price.
Significant unobservable input	Volatility
Inter-relationship between significant unobservable input and fair value measurement	The estimated fair value would increase (decrease) if the expected volatility were higher (lower).

Financial Instruments (Detail_4

Financial Instruments (Details) - Schedule of assessment of the probability of default and the loss due to default is mainly based on historical data and adjust historical loss rates - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Financial Instruments (Details) - Schedule of assessment of the probability of default and the loss due to default is mainly based on historical data and adjust historical loss rates [Line Items]
Weighted-average loss rate	14.67%	9.60%	10.99%
Gross carrying amount	$ 147,590	$ 99,697	$ 104,512
Impairment loss allowance	(21,650)	(9,573)	(11,488)
Total	$ 125,940	$ 90,124	$ 93,024
Current (not past due) [Member]
Financial Instruments (Details) - Schedule of assessment of the probability of default and the loss due to default is mainly based on historical data and adjust historical loss rates [Line Items]
Weighted-average loss rate	0.60%	0.53%	0.68%
Gross carrying amount	$ 98,776	$ 74,639	$ 69,478
Impairment loss allowance	(591)	(393)	(474)
Total	$ 98,185	$ 74,246	$ 69,004
1-30 days past due [Member]
Financial Instruments (Details) - Schedule of assessment of the probability of default and the loss due to default is mainly based on historical data and adjust historical loss rates [Line Items]
Weighted-average loss rate	2.11%	2.59%	1.98%
Gross carrying amount	$ 11,265	$ 5,216	$ 13,584
Impairment loss allowance	(238)	(135)	(269)
Total	$ 11,027	$ 5,081	$ 13,315
31-60 days past due [Member]
Financial Instruments (Details) - Schedule of assessment of the probability of default and the loss due to default is mainly based on historical data and adjust historical loss rates [Line Items]
Weighted-average loss rate	2.35%	2.81%	2.49%
Gross carrying amount	$ 3,147	$ 2,958	$ 4,989
Impairment loss allowance	(74)	(83)	(124)
Total	$ 3,073	$ 2,875	$ 4,865
61-90 days past due [Member]
Financial Instruments (Details) - Schedule of assessment of the probability of default and the loss due to default is mainly based on historical data and adjust historical loss rates [Line Items]
Weighted-average loss rate	3.38%	5.82%	4.36%
Gross carrying amount	$ 1,981	$ 1,754	$ 2,224
Impairment loss allowance	(67)	(102)	(97)
Total	$ 1,914	$ 1,652	$ 2,127
91-120 days past due [Member]
Financial Instruments (Details) - Schedule of assessment of the probability of default and the loss due to default is mainly based on historical data and adjust historical loss rates [Line Items]
Weighted-average loss rate	3.26%	14.78%	5.10%
Gross carrying amount	$ 1,843	$ 406	$ 1,176
Impairment loss allowance	(60)	(60)	(60)
Total	$ 1,783	$ 346	$ 1,116
More than 120 days past due [Member]
Financial Instruments (Details) - Schedule of assessment of the probability of default and the loss due to default is mainly based on historical data and adjust historical loss rates [Line Items]
Weighted-average loss rate	67.43%	59.77%	80.12%
Gross carrying amount	$ 30,578	$ 14,724	$ 13,061
Impairment loss allowance	(20,620)	(8,800)	(10,464)
Total	$ 9,958	$ 5,924	$ 2,597

Financial Instruments (Detail_5

Financial Instruments (Details) - Schedule of carrying amounts of the group’s foreign currency denominated monetary assets and monetary liabilities ₡ in Thousands, S/ in Thousands, R$ in Thousands, Q in Thousands, C$ in Thousands, $ in Thousands, $ in Thousands

12 Months Ended

Dec. 31, 2021COP ($)

Dec. 31, 2021BRL (R$)

Dec. 31, 2021NIO (C$)

Dec. 31, 2021GTQ (Q)

Dec. 31, 2021PEN (S/)

Dec. 31, 2021DOP ($)

Dec. 31, 2021CRC (₡)

Dec. 31, 2020COP ($)

Dec. 31, 2020BRL (R$)

Dec. 31, 2020NIO (C$)

Dec. 31, 2020GTQ (Q)

Dec. 31, 2020PEN (S/)

Dec. 31, 2020DOP ($)

Dec. 31, 2020CRC (₡)

Dec. 31, 2019COP ($)

Dec. 31, 2019BRL (R$)

Dec. 31, 2019NIO (C$)

Dec. 31, 2019GTQ (Q)

Dec. 31, 2019PEN (S/)

Dec. 31, 2019DOP ($)

Dec. 31, 2019CRC (₡)

Dec. 31, 2021BRL (R$)

Dec. 31, 2021NIO (C$)

Dec. 31, 2021GTQ (Q)

Dec. 31, 2021PEN (S/)

Dec. 31, 2021DOP ($)

Dec. 31, 2021CRC (₡)

Dec. 31, 2020BRL (R$)

Dec. 31, 2020NIO (C$)

Dec. 31, 2020GTQ (Q)

Dec. 31, 2020PEN (S/)

Dec. 31, 2020DOP ($)

Dec. 31, 2020CRC (₡)

Dec. 31, 2019BRL (R$)

Dec. 31, 2019NIO (C$)

Dec. 31, 2019GTQ (Q)

Dec. 31, 2019PEN (S/)

Dec. 31, 2019DOP ($)

Dec. 31, 2019CRC (₡)

Schedule of carrying amounts of the group’s foreign currency denominated monetary assets and monetary liabilities [Abstract]

Assets

$ 124,545

$ 100,077

$ 92,849

R$ 7002

Q 1,946

S/ 7,024

$ 809

₡ 1,270

R$ 4808

Q 90

S/ 5,249

$ 817

₡ 1,234

R$ 6700

C$ 2719

Q 1,558

S/ 4,819

Liabilities

(99,371)

(124,957)

(99,880)

R$ 9125

Q (4,115)

$ (2,869)

₡ (2,371)

R$ 5385

S/ (8,564)

$ (3,093)

₡ (2,410)

R$ 2978

C$ 2600

Q (4,805)

S/ (6,928)

+10% Impact to profit or loss before tax

(2,289)

R$ 193

Q 197

S/ (639)

$ 187

₡ 100

2,262

R$ 52

Q (8)

S/ 301

$ 207

₡ 107

639

R$ 338

C$ 11

Q 295

S/ 192

-10% Impact to profit or loss before tax

$ 2,797

R$ 236

Q (241)

S/ 781

$ (229)

₡ (122)

$ (2,764)

R$ 64

Q 10

S/ (368)

$ (253)

₡ (131)

$ (781)

R$ 414

C$ 13

Q (361)

S/ (234)

Financial Instruments (Detail_6

Financial Instruments (Details) - Schedule of sensitivity analyzes have been determined based on exposure of financial liabilities to the highlighted variable interest rates - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Carrying amount [Member]
Financial Instruments (Details) - Schedule of sensitivity analyzes have been determined based on exposure of financial liabilities to the highlighted variable interest rates [Line Items]
Total	$ 87,421	$ 150,340	$ 142,687
Carrying amount [Member] | DTF/IBR [Member]
Financial Instruments (Details) - Schedule of sensitivity analyzes have been determined based on exposure of financial liabilities to the highlighted variable interest rates [Line Items]
Total	67,970	105,039	91,443
Carrying amount [Member] | Libor [Member]
Financial Instruments (Details) - Schedule of sensitivity analyzes have been determined based on exposure of financial liabilities to the highlighted variable interest rates [Line Items]
Total	19,451	45,301	51,244
+1% [Member]
Financial Instruments (Details) - Schedule of sensitivity analyzes have been determined based on exposure of financial liabilities to the highlighted variable interest rates [Line Items]
Total	88,296	151,843	144,113
+1% [Member] | DTF/IBR [Member]
Financial Instruments (Details) - Schedule of sensitivity analyzes have been determined based on exposure of financial liabilities to the highlighted variable interest rates [Line Items]
Total	68,650	106,089	92,357
+1% [Member] | Libor [Member]
Financial Instruments (Details) - Schedule of sensitivity analyzes have been determined based on exposure of financial liabilities to the highlighted variable interest rates [Line Items]
Total	19,646	45,754	51,756
-1% [Member]
Financial Instruments (Details) - Schedule of sensitivity analyzes have been determined based on exposure of financial liabilities to the highlighted variable interest rates [Line Items]
Total	86,546	148,837	141,261
-1% [Member] | DTF/IBR [Member]
Financial Instruments (Details) - Schedule of sensitivity analyzes have been determined based on exposure of financial liabilities to the highlighted variable interest rates [Line Items]
Total	67,290	103,989	90,529
-1% [Member] | Libor [Member]
Financial Instruments (Details) - Schedule of sensitivity analyzes have been determined based on exposure of financial liabilities to the highlighted variable interest rates [Line Items]
Total	$ 19,256	$ 44,848	$ 50,732

Financial Instruments (Detail_7

Financial Instruments (Details) - Schedule of balances of other financial liabilities such as suppliers and accounts payable have no financial cost and their payment period ranges - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Less than 1 year [Member]
Non-derivative financial liabilities
Borrowings	$ 71,987	$ 114,214
Trade and other payables	85,381	94,116
Lease liabilities	9,853	11,392
Amounts owed to related parties	8,450	8,459
Total	175,671	228,181
1-2 years [Member]
Non-derivative financial liabilities
Borrowings	16,895	65,966
Trade and other payables
Lease liabilities	7,403	12,963
Amounts owed to related parties		12,163
Total	24,298	91,092
2-3 years [Member]
Non-derivative financial liabilities
Borrowings	15,330	447,035
Trade and other payables
Lease liabilities	5,333	6,759
Amounts owed to related parties
Total	20,663	453,794
3-5 years [Member]
Non-derivative financial liabilities
Borrowings	20,323	1,103
Trade and other payables
Lease liabilities	8,314	3,441
Amounts owed to related parties
Total	28,637	4,544
More than 5 years [Member]
Non-derivative financial liabilities
Borrowings	128,476	556
Trade and other payables
Lease liabilities	9,001	5,016
Amounts owed to related parties
Total	137,477	5,572
Contractual cash flows [Member]
Non-derivative financial liabilities
Borrowings	253,011	628,874
Trade and other payables	85,381	94,116
Lease liabilities	39,904	39,571
Amounts owed to related parties	8,450	20,622
Total	386,746	783,183
Carrying amount [Member]
Non-derivative financial liabilities
Borrowings	221,619	417,719
Trade and other payables	85,381	94,116
Lease liabilities	31,747	36,799
Amounts owed to related parties	8,450	20,622
Total	$ 347,197	$ 569,256

Financial Instruments (Detail_8

Financial Instruments (Details) - Schedule of indebtedness index for the reporting period - Indebtedness Index [Member] $ in Thousands		12 Months Ended
		Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Financial Instruments (Details) - Schedule of indebtedness index for the reporting period [Line Items]
Total assets	[1]	$ 462,135	$ 359,538	$ 337,728
Total liabilities	[2]	$ 500,475	$ 614,216	$ 581,675
Liabilities to assets ratio		1.08	1.71	1.72
[1]	Defined as short-term assets plus long-term assets
[2]	Defined as short-term liabilities plus long-term liabilities

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Related Party Transactions (Details) [Line Items]
Interest expense	$ 61	$ 49
Net receivables	1,147	2,562
Provisioned balance	$ 18,060	$ 18,148
Related parties repayable, term	1 year
Average interest rate	6.00%	6.00%
Industrias Intercaps De Venezuela [Member]
Related Party Transactions (Details) [Line Items]
Provisioned balance	$ 5,333	$ 5,472
Related parties [member]
Related Party Transactions (Details) [Line Items]
Other expenses, by nature	$ 427,000	$ 325,000	$ 319,000

Related Party Transactions (D_2

Related Party Transactions (Details) - Schedule of transactions with joint ventures - Joint Ventures and Other Related Parties [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Related Party Transactions (Details) - Schedule of transactions with joint ventures [Line Items]
Sale of finished products	$ 3,825	$ 3,757	$ 3,240
Revenue from services and consulting	116	87	222
Purchases of raw materials and other services	$ 10,240	$ 11,339	$ 11,401

Related Party Transactions (D_3

Related Party Transactions (Details) - Schedule of outstanding at the reporting date - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Schedule of outstanding at the reporting date [Abstract]
Amounts owed by related parties, net	$ 1,147	$ 2,562

Related Party Transactions (D_4

Related Party Transactions (Details) - Schedule of corresponding exchange differences - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020		Dec. 31, 2019	[1]
Schedule of corresponding exchange differences [Abstract]
Amounts owed to related parties	$ 1,335	$ 4,778
Loans owed to related parties	7,115	15,844
Amounts owed to related parties	8,450	20,622
Current	8,450	8,459	[1]	$ 25,091
Non-current		$ 12,163	[1]
[1]	Refer to Note 2.4

Related Party Transactions (D_5

Related Party Transactions (Details) - Schedule of loans to and from related parties - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Loans to related parties [Member]
Related Party Transactions (Details) - Schedule of loans to and from related parties [Line Items]
Beginning Balance	$ 304	$ 499	$ 542
Loans advanced			289
Loan repayments received	(28)	(195)	(332)
Ending Balance	276	304	499
Loans from related parties [Member]
Related Party Transactions (Details) - Schedule of loans to and from related parties [Line Items]
Beginning Balance	15,844	20,963	24,557
Loans advanced		32
Loan repayments received	(9,154)	(5,856)	(4,570)
Interest accrued	425	705	976
Ending Balance	$ 7,115	$ 15,844	$ 20,963

Related Party Transactions (D_6

Related Party Transactions (Details) - Schedule of consolidated statement of profit or loss - Directors and Executive Board Management Members [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Related Party Transactions (Details) - Schedule of consolidated statement of profit or loss [Line Items]
Short-term employee benefits	$ 3,359	$ 2,617
Consulting fees	1,912	100
Total management compensation	$ 5,271	$ 2,717