Our story

1919

 Pharmacist Stefán Þórarensen received a pharmacy license on March 25, issued by the King of Denmark. He went on to establish the Laugavegur Pharmacy and the wholesale business, Stefán Þórarensen hf. Initially, operations involved importing medicines, pharmaceutical ingredients, and nursing supplies; later, pharmaceutical production began, with the first tablet press acquired in 1930.

1921

The State Drug Store was established as part of the State Liquor Store, located in Nýborg on Skúlagata Street. It later became the sole liquor outlet in town. Organized production of infusion medications began in Iceland in 1954.

1967

Austurbakki began operations as an import business for general goods, including sports equipment, shoes, and tires.

The range expanded to include nursing supplies, pharmaceuticals, and alcohol.

1970

The company Lyf hf. was established.

1994

The State Drug Store was privatized and renamed Lyfjaverslun Íslands.

The nursing division transferred to Ísmed, and the pharmaceutical division to Ísfarm. In 2002, the distribution merged under Lyfjadreifing.

1995

Lyfjadreifing was founded to distribute medicines and other products nationwide.

In 2005, it was renamed Parlogis.

1996

Stefán Þórarensen merged with Lyf hf., forming Thorarensen Lyf hf.

1997

Lyfjaverslun Íslands acquired Ísfarm.

1999

Heilsuverslun Íslands ("Health Store of Iceland") was established, specializing in marketing and selling health products, vitamins, supplements, herbal remedies, and other health-related goods.

2000

Lyfjaverslun Íslands acquired A. Karlsson hf.

2001

Lyfjaverslun Íslands acquired Thorarensen Lyf hf. 

2002

Lyfjaverslun Íslands was renamed Líf hf.

2004

Investment firm Atorka acquired Líf hf., which owned companies such as Thorarensen Lyf, Ísmed, Grócó, Heilsuverslun Íslands, A. Karlsson, Ilsanta, Lyfjadreifing, and Ísfarm.

Icepharma was formed by merging Thorarensen Lyfja, Heilsuverslun Íslands, and Ísfarm, with the medical and nursing division of Thorarensen Lyfja transferred to Ísmed. Operations officially began on January 1, 2005.

2005

Atorka acquired Austurbakki.

2006

Icepharma officially took shape as Austurbakki, Ísmed, and Icepharma merged under the name “Icepharma” from January 1, 2006.

2007

Atorka sold Icepharma to its chairman and key management team in May 2007.

2016

Icepharma acquired Yggdrasill.

2018

Icepharma acquired LYFIS