History

Originally the purchasing and distribution division at Vistor hf., Distica's independent operations began on January 1st, 2007.

The company's history, however, spans over 60 years, tracing its roots to 1956 when seven pharmacy owners joined forces to improve the sale of pharmaceuticals nationwide by founding the purchasing agency Pharmaco Ltd.

Pharmaco was established at a time of economic restrictions and rations in Iceland, when specialized permits were required for investment. Import, too, was dependent on currency and import permits and there was a general product scarcity in Iceland (in terms of pharmacies as well). These economic conditions were unacceptable, which was why the pharmacy owners established the aforementioned purchasing agency: in order to meet an urgent demand and in order to ensure the systematic supply of medicine nationwide.

Milestones in Distica's history

1956

Pharmaco Ltd. founded by seven pharmacy owners.

1960

Pharmaco Ltd. starts production of pharmacopeia preparations.

1981

Pharmaco’s production division demerged into a new company: Delta Ltd.

1992

Shares in Delta sold.

1993

Pharmaco sharpens its focus on the selling, marketing and distribution of human and veterinary pharmaceuticals, medical and laboratory equipment, personal care products and cosmetics.

1997

Pharmaco receives an ISO 9001 validation for its distribution function.

2000

Pharmaco merges with Balkanpharma, Bulgaria.

2002

Pharmaco Iceland Ltd. is established around the Icelandic wholesale and distribution operation and sold to Veritas Capital, lead by Mr. Hreggvidur Jonsson.  Pharmaco Iceland changes its name to PharmaNor and establishes a subsidiary, CosNor, around its personal care products and cosmetics division.

2004

Cosmetic business is divested.

2005

PharmaNor changes name to Vistor.

2006

Preparation for the establishment of Distica – imports, warehouse operations and distribution demerged from Vistor.

2007

  • Vistor’s operations are demerged into two companies: Distica—which handles import, logistics, order receipt and distribution to its customers for its clients—and Vistor—which handles sales and marketing, as well as regulatory affairs. Both companies are fully owned by Veritas Capital Ltd.
  • The handling of non-pharmaceutical products is movet to a 2,000 square meter warehouse in Sudurhraun.

2008

Veritas Capital becomes Distica’s active parent company and assumes the operation of financial and support services (Distica purchases all of its support services from Veritas).

2009

A new cold storage room for refrigerated goods put into use.

2010

Manhattan SCALE, a new logistical platform, is installed in the warehouse in Suðurhraun.

2011

The Manhattan SCALE logistical platform is also installed in Hörgatún (pharmaceutical warehouse).

2012

  • New office building in Hörgatún opened.
  • Electronic system for returned goods introduced.
  • Distica’s information portal designed and introduced.

2013

  • The rebuilding of a pharmaceutical warehouse in Horgatun is completed. With the building extension of 1,300 square meters, the warehouse totals 3,500 square meters in size.
  • Navision (ERP) software successfully installed.
  • Distica’s warehouse in Sudurhraun receives and ISO 9001 validation in October.
  • Distica rated as “The Strongest in Iceland” by Creditinfo, Iceland’s leading credit information provider, in an analysis made annually, showing Icelandic companies that have achieved top marks in their strength and stability assessments.

2014

Distica rated as “The Strongest in Iceland” by Creditinfo.

2015

  • Manhattan SCALE, warehouse management system, update in June.
  • Start of LEAN methodology introduction.
  • Distica rated as “The Strongest in Iceland” by Creditinfo.

2016

Distica rated as “The strongest in Iceland” by Creditinfo.

2019

  • Microsoft Dynamics NAV update to version 2017.
  • Distica’s new website launched.