(011) 3090 100 | office@velefarm.co.rs srp | eng

Company History

Important Dates :

  • April 4, 1979 – foundation; 16 employees, 160 m2 office space, 800 m2 rented storage space in air raid shelter;
  • 1987 – doubled initial profit; tripled capital opening of first business centers in Kumanovo, Uzice and Subotica;
  • 1988 – reorganization from dependent to independent company with full liability; started construction of headquarters building;
  • 1989 – forming our own department of importing of medicines, equipment and medical devices; moving into the new headquarters building in Belgrade;
  • 1990 – significant growth of total revenue, stabilization of profit from assets and capital;
  • 1992 – achieving the status of market leader in the field of medical devices al and pharmaceutical wholesale in former Yugoslavia; opening of business center in Vranje;
  • 1993 – opening of business centers in Nis, Valjevo, Kragujevac and Novi Sad;
  • 1994 – official transformation of Velefarm into a privately owned stock company; opening of business center in Zajecar; commencing of practice of awarding best students of Faculty of Pharmacy with scholarships -– the tradition which shall be continued in the following years;
  • 1997 – privatization and capital increase with ICN Galenika; value of imported goods 18 times bigger than in 1992; value of capital increased 8 times in comparison to 1990;
  • 1998 –establishing of holding company with 4 daughter companies; opening of business center in Pristina; official opening of Velefarm School for permanent education of its employees;
  • 1999 – ISO 9001 certificate acquired – first wholesaler of pharmaceutical products in Serbia, among the first ones in Europe;
  • April 2000 – as the results of company management noncompliance to orders given by coming former socialist regime which were against basic medical professional and business principles; company is forced into bankruptcy and taken over; damages worth 55 million US$;
  • October 2000 – the legitimate management is reinstated;
  • 2002 – international presence – first business center outside Serbia is open in Bijeljina, responsible for supplying healthcare institutions in Republic of Srpska and Federation of B&H; awarded ISO 14001 environmental management system certificate;
  • 2003 – Velefarm becomes 100% privately owned and listed on Belgrade Stock Exchange;
  • 2004 – opening of business center in Kosovska Mitrovica
  • 2005 – opening of newly constructed facility in business center Kragujevac reconstruction and renovating of buildings in Novi Sad, Bijeljina and Belgrade, significant renewal of vehicle park with modern vehicles ; IT overhaul;
  • 2006 – awarded OHSAS 18001 occupational health and safety management system certificate;
  • 2007 – consolidation and stabilization of business portfolio, visible sales growth; modernization of business centers in Vranje and Valjevo; investing in upgrading of pharmacy business in Serbia;
  • 2008 – reconstruction and expansion of business center Zajecar; expanding of portfolio and sales growth;
  • 2009 – 30 years of successful business; construction of 1500 m3 central distribution warehouse – high-ranking pallet system for storage of 4000 pallets with cold chamber, the only of its kind in Serbia. After reconstruction distribution facilities now all comply with the principles of Good Distribution practice
  • 2010 – Finalisation of the construction work on the Business Center in Banja Luka; beginning of the restructuring process in Velefarm
  • 2011 – Changes in the Top Management in the company – after 32 years, Velefarm got a new General Manager.