Our Milestones

1940s

  • 1944: Michel S. Jacovides, a pharmacist by profession, opens his first retail pharmacy "Michel Pharmacy".
  • 1949: Michel secures an important partnership agreement with the leading American pharmaceutical company, Merck & Co (MSD), as an exclusive distributor in Cyprus.
1950s

  • 1956: During the period of the great polio epidemic, Michel takes the initiative of importing one of the first then available globally poliomyelitis vaccines from R.I.T., Belgium (later acquired by SmithKline), which he offered at a competitive price.
1960s

  • Expansion with 2 more pharmacies: one in Ayios Dhometios and another one in Makariou Avenue, Nicosia.
1970s

  • The 4 sons of Michel - Sotos, Savvas, Alexandros and Aris - returning to Cyprus from their studies abroad, gradually join the family business with a common vision and start exploring the commercial opportunities of the business in the pharmaceutical and health sectors. They identify areas and products with growth potential by focusing on wholesale trading, promotion, scientific support and distribution in the domestic market.
  • 1974: Following the Turkish invasion, the company was heavily impacted. Immediate steps were taken to overcome the crisis and the company returned to healthy growth after 1976.
  • 1977: Establishment of Vetagrica Ltd for handling exclusively veterinary and crop protection products.
1980s

  • 1982: Strategic decision by the Board members - the founder and the 4 brothers - for the geographical and operational expansion in Athens, with the establishment of M.S. Jacovides Hellas S.A., a company focusing on innovative medical devices and among one of the first companies of Cypriot interests in Greece.
  • 1986: Completion of wholly owned headquarters in Nicosia, as the company expanded rapidly during the 1980s.
1990s

  • 1997: Establishment of Genesis Pharma S.A. in Athens, the first Greek pharmaceutical company specialising in the promotion, sales and distribution of innovative biopharmaceutical products.
  • 1998: New wholly owned premisses off Kifisias Avenue in Athens as Headquarters for the business operations in Greece.
  • 1999: Expansion of Genesis Pharma's business activities in Cyprus through the creation of Genesis Pharma (Cyprus) Ltd, currently responsible for a number of countries in S.E. Europe and operating through its local subsidiaries in Bulgaria, Romania and Croatia.
2000s

  • 2000: Establishment of the associated company Pharmnet Ltd for handling the logistics, distribution and warehousing services to pharmaceutical companies operating in Cyprus.
  • 2005: Lifepharma (Z.A.M.) Ltd, a company operating in Cyprus in the field of pharmaceuticals, food supplements, vitamins, baby food, clinical nutrition, consumer health and OTC products, becomes part of MSJ Group and considerably increases market penetration of non-prescription products through pharmacies.
  • 2009: Pharmnet Ltd merges with Marathon Distributors Ltd - the leading healthcare logistics, warehouse and distribution provider to pharmacies and health organisations in Cyprus.
2010s

  • 2010: Agreement with Cosmos Trading (now Laiko-Cosmos Trading) for the distribution of the Group's consumer health products to retail outlets.
  • 2010: Vetagrica Ltd focuses now on veterinary medicines and establishes Agrolan Ltd for offering exclusively agrochemical, crop and plant protection products.
  • 2014: This year marks the 70-year anniversary of MSJ Group, which has successfully achieved and maintained a leading position in the fields of healthcare in Cyprus and Greece.
  • 2015: Establishemnt of Lifevet, a trading name as the veterinary division under Lifepharma (Z.A.M.) Ltd.
  • 2017: Health & Diet Food Center (H&D), a company specialising in the import and distribution of natural products and food supplements in Cyprus, becomes part of the MSJ Group which significantly strengthens the Group's position in the pharmacy market.