Best Pharmaceutical companies in Iceland

The Pharmaceutical companies in Iceland focus on the production, distribution, research, and synthesis of quality and affordable pharmaceutical products.

Iceland’s health expenditure per capita is slightly higher as compared to the EU average but lower as a percentage of the Gross Domestic Product.

Biomedical and pharmaceutical companies, incorporated in Iceland benefit from low corporate tax and encouraging financial incentives for clinical trial R&D and commercial applications.

The development of new generic drugs is costly, but this funding will allow them to continue with the goal of bringing more new generic drugs to market.

Introduction to pharmaceutical companies in Iceland

The Iceland Pharmaceutical market boomed because of the activities of these companies in the industry.

In Iceland, various market players such as Novartis, Alvotech, and Coripharma have increased their investment in R&D and manufacturing over the past few years.

As per the data published by Frumtök (the Icelandic Association of the Pharmaceutical Industry), one of the market players Novartis has contributed over ISK 160 million over the previous 3 years.

Related: Top pharmaceutical companies in Iowa

The rising investments in research and development are expected to supplement the overall growth of the pharmaceutical market in Iceland.

However, there is a rise in the shortage of medicines in Iceland which is expected to create a hindrance in the growth of the market. Furthermore, it is also important to note that the Iceland pharmaceutical market is moderately competitive and consists of several major players.

Top pharmaceutical companies in Iceland

Below is a comprehensive list of the top pharmaceutical companies in Iceland with their contact addresses for easy access to these awesome companies.

3Z Pharmaceuticals

Address: Menntavegur 1, 101 Reykjavík, Iceland

Phone: +354 599 6434

Website: click here

Actavis Pharmaceutical company

Address: Dalshraun 1 220 Hafnarfjordur Iceland

Phone: +354-550-3200

Email: [email protected]


Address: Bogatrod 10262 Reykjanesbaer Iceland

Phone: +354 571-1066

Sales: [email protected]

Careers: [email protected]

Email: [email protected]

Website: click here

Alvotech Pharmaceutical Company        

Address: Saemundargata 15-19102 Reykjavik Iceland

Phone: +354 – 522 2900


Address: Reykjavikurvegur 78 – 80220 Hafnarfjordur, Iceland.

Email: [email protected]

Phone: +354 4206700

DeCODE genetics

Address: Sturlugata 8, 101 Reykjavík, Iceland

Phone: +354 570 1900

Parent organization: Amgen

CEO: Kári Stefánsson (Aug 1996–)

Founder: Kári Stefánsson

Founded: 1996

Website: visit here

Frumtök(association of pharmaceutical industry in Iceland)

Address: Húsi atvinnulífsinsBorgartún 35 IS-105 Reykjavík

Tel: +354 588 8955

Email: [email protected]

Icemvo Lyfjaauðkenni

Address: Kringlan, Reykjavík, Iceland

Phone: +354 660 3707

Website: click here


Address:  Lyngháls 13, 110 Reykjavík

Phone: +354 540 8000

Email: [email protected]

Medis EHF Pharmaceutical Company

Address: Dalshraun,Hafnafjordur, iceland

Phone: +354 550 3200

Oculis Pharmaceuticals

Address: Álfheimar 74, Reykjavík, Iceland

Phone: +354 546 4440

Website: Click Here

Email: [email protected]

Vistor Pharmaceutical

Address: Horgatun 2 210 Gardabaer

Email: [email protected]

Phone: 535 7000

Williams & Halls

Address: Urðarhvarf, Kópavogur, Iceland

Phone: +354 527 0600

Website: Click Here

Descriptions of some of the Pharmaceutical Companies in Iceland

See below;


Coripharma is a European generic pharmaceutical company, based on solid heritage. Their manufacturing site was initially established in 1981.


Reykjavikurvegur 78 – 80220 Hafnarfjordur, Iceland.


[email protected]


+354 4206700

Alvotech Pharmaceutical Company

Alvotech is a fully integrated specialty biopharmaceutical company focused exclusively on the development and manufacturing of high-quality biosimilar medicines.

Alvotech’s true purpose is to make patients’ lives better by improving access to affordable biosimilar medicines and helping with the sustainability of healthcare systems.

They operate on the principle that if there’s a cure, they believe it should be available for everyone and not just the privileged few.

Alvotech prides itself on attracting highly experienced industry talent, drawn by its purpose-driven culture.

With its strong emphasis on excellence and commitment to improving the lives of patients by making biologics more accessible around the globe, Alvotech strives to promote a culture of diversity and inclusion.


Saemundargata 15-19 102 Reykjavik Iceland


+354 – 522 2900

Medis EHF

They have a proven track record in securing regulatory approval prior to patent expiries and have obtained marketing authorizations in over 140 countries to date.

The company draws on the development and manufacturing capabilities of its parent company, Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA), whose R&D specialists maintain a strong development pipeline.

They provide generic pharmaceutical products for human use, mainly in the form of tablets, capsules, and injections.

Their comprehensive portfolio includes a growing range of specialist oncology products and product formulations including modified release, solid oral dosage, semi-solids, suspensions, transdermals, suppositories, creams, ointments, liquids, and injectables.


Dalshraun,Hafnafjordur, iceland


+354 550 3200


Icepharma is one of the biggest distributors of medical devices and nursing products in Iceland. The company values the hands-on experience of the sales and marketing team which is essential in relating to the needs of the healthcare professionals and end-users.

Icepharma places great emphasis on working closely with the companies it represents.


Lyngháls 13, 110 Reykjavík


+354 540 8000


[email protected]

3Z Pharmaceuticals

Address: Menntavegur 1, 101 Reykjavík, Iceland

Phone: +354 599 6434

3Z incorporates the latest advances in disease modeling and behavioral genetics to discover novel drug candidates for CNS disorders.

Drug repurposing, also known as drug repositioning, is a drug development strategy predicated on the reuse of existing licensed drugs for new medical indications.

Wrap up on the pharmaceutical companies in Iceland

The list of the pharmaceutical companies in Iceland is essential for easy access to these companies striving and contributing to the pharma industry in Iceland and Europe at large.

Furthermore, the list is in no order of ranking every organization listed has the operational licenses and a vision focused on serving humanity through their different products.

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