Our story

Icepharma is built on a solid foundation that dates back to 1919. Initially, the business involved importing medicines, pharmaceutical ingredients and nursing supplies for doctors and healthcare institutions. Today, the core of our business is the service, marketing and sales of health-promoting products from leading suppliers.

1919

Pharmacist Stefán Thorarensen received a pharmacy license on March 25, 1919, with a document from the King of Denmark. He subsequently founded Laugavegur Pharmacy and the wholesale company Stefán Thorarensen hf.


Initially, the business involved importing medicines, pharmaceutical ingredients and nursing supplies for doctors and healthcare institutions. Later, Stefán began manufacturing medicines and in 1930, the first tablet press was purchased.

1921

The State Drug Store was established and was part of the State Liquor Store.


The liquor store was located in Nýborg on Skúlagata and was for a long time the only liquor store in town. Organized production of infusion drugs began later in this country, in 1954.

1967

Austurbakki is involved in the import of various products.


The business involved importing sports equipment, shoes and tires. Later, nursing supplies, medicines and alcohol were added to the product range.


1970

Lyf hf. founded

1994

The State Pharmaceuticals Corporation is privatized and renamed the Icelandic Pharmaceuticals Corporation.


The nursing division is transferred to Ísmed and the pharmaceutical division to Ísfarm. The distribution merges with Lyfjadreifing in 2002.

1995

The company Lyfjadreifing was founded.


The company's operations consisted of distributing medicines and other products throughout the country. The company's name was changed to Parlogis in 2005.

1996

Stefán Thorarensen merges with Lyf hf. The merged company was named Thorarensen Lyf hf.

1997

Icelandic Pharmacy acquires Ísfarm.

1999

The Icelandic Health Store is established.


The store specializes in the sale and marketing of health products, vitamins, supplements, herbal remedies, and other health-related products.

2000

Icelandic Pharmacy acquires A. Karlsson hf.

2001

Icelandic Pharmaceuticals acquires Thorarensen Lyf hf.

2002

The name of the Icelandic Pharmacy was changed to Líf hf.

2004

The investment company Atorka acquires Líf hf., which owned and operated the companies Thorarensen Lyf, Ísmed, Grócó, Heilsuverslun Íslands, A. Karlsson, Ilsanta, Lyfjadreifing and Ísfarm.


Icepharma is founded through the merger of Thorarensen Lyfja, Heilsuverslun Íslands and Ísfarm. Thorarensen Lyfja's medical and nursing product division is transferred to Ísmed. Formal operations begin on January 1, 2005.

2005

Atorka acquires Austurbakki.

2006

Icepharma will be created.


Austurbakki, Ísmed and Icepharma merge under the name Icepharma from January 1, 2006.

2007

Atorka sells Icepharma to the Chairman of the Board and key management in May 2007.

2016

Icepharma acquires Yggdrasil.

2018

Icepharma acquires LYFIS