40 Years of partnership and progress

Since 1985, Medis has grown from an Icelandic pharmaceutical export company into an international partner for high-quality generic medicines. Our journey has been shaped by portfolio expansion, regulatory expertise, international growth, and lasting relationships with customers around the world.

Explore some of the milestones that have shaped Medis over the past four decades.

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1985

Medis Founded

Medis was established in Iceland under the leadership of Ottó B. Ólafsson to bring locally developed and manufactured pharmaceutical products and dossiers to international markets. Its founding shareholders were Pharmaco hf. and Delta hf. 

Medis trademark in 1986.

2004

Ramipril launch Accelerating international growth

Under the leadership of Guðbjörg Edda Eggertsdóttir, Medis continued its international expansion with the establishment of Medis Pharma GmbH and the opening of its office in Ingelheim, Germany. The acquisition of Omega Pharma further strengthened the business, while the portfolio expanded with products including finasteride, sertraline, and the launch of ramipril. Sales reached nearly EUR 162 million, up from EUR 5 million in 1998.

2009

Atorvastatin launch Strengthening our position in Europe

The establishment of Medis Pharma France, the opening of the Paris office, and the launch of atorvastatin marked a new phase of European growth. Under the leadership of Valur Ragnarsson, by 2011 sales had reached EUR 227 million.  Introduction of a new Medis logo.
 

2012

A new phase of integration

Following Watson’s acquisition of Actavis and Medis in 2012, Specifar’s third-party sales activities were integrated into Medis. In 2013, Spirit Pharmaceuticals Pty Ltd. was renamed Medis Pharma Pty Ltd., further extending the Medis identity internationally. Sales reached EUR 202 million in 2012 and EUR 227 million in 2013.

2015

30th Anniversary of Medis

Medis wins "Business Development of the Year" at Global Generics & Biosimilar Awards. Medis’ customers were first to launch pregabalin in both the UK and Germany. 

2016

Medis becomes part of Teva

Medis became part of Teva following its acquisition of Actavis Generics. In the same year, Medis achieved record sales of EUR 347 million.

2017

EMEA Company of the Year

Medis named EMEA Company of the Year at the Global Generics & Biosmilars Awards 2017.

2018

Extending our portfolio

With sales reaching EUR 283 million in 2018, the launch of ezetimibe/simvastatin marked another important portfolio milestone for Medis. In September 2019, Jo Kim became Head of Medis.

2022

A new phase of growth

Asaf Regev took the leadership of Medis as the company entered a new phase of strategic development. In alignment with Teva’s Pivot to Growth strategy, Medis strengthened its role as Teva’s global generics out-licensing business, supporting international partnerships, portfolio expansion, and innovative operational efficiency. By 2024, Medis delivered top-line sales.

2025

40 Years anniversary

Medis marked 40 years of trust, collaboration, and pharmaceutical expertise. From its beginnings in 1985, the company has grown to support partners across more than 100 markets with a broad portfolio, regulatory expertise, and a shared commitment to expanding access to high-quality medicines. The anniversary also celebrated the customers, partners, and colleagues who have shaped the Medis journey and continue to build its future.