A new distribution company will handle the distribution for Vistor, Actavis and others

To open up new opportunities and sharpen its focus on its operations, the Board of Vistor has given its approval to the company being split into two separate entities. A new distribution company, DISTICA hf., will take care of the logistics and distribution for Vistor and other companies within the pharmaceutical and healthcare industry. Vistor will focus on the marketing activities for the company’s clients. DISTICA will take over the distribution of pharmaceuticals for Actavis in Iceland with effect from 1 January 2007. The operations of these two companies, which are both owned by the holding company, Veritas Capital hf., will be completely separate and each company will have its own Board. Gylfi Rútsson has been appointed CEO of DISTICA .

Vistor has up to the present time provided a complete service for international companies within the pharmaceutical and healthcare industry, everything from registration of pharmaceuticals and marketing to distribution to retailers. Vistor will in the future focus on marketing, regulatory affairs and relations with the healthcare sector for its clients which are many of the world’s most respected manufacturers in the field of pharmaceuticals, medical devices and laboratory and nursing products. After these changes havebeen implemented, there will be approximately 100 employees working at the company, many of whom have extensive experience and specialized training in the healthcare sector. Hreggviður Jónsson is the CEO of Vistor.

DISTICA will handle the importation, logistics and distribution for Vistor and other companies within the pharmaceutical and healthcare industry. DISTICA will take over the distribution of pharmaceuticals for Actavis in Iceland with effect from 1 January 2007. With the advent of this contract with Actavis, the scope of the distribution activities will increase by about 30% and DISTICA’s turnover is estimated at approximately ISK 6.5 billion. DISTICA’s operation is certified according to ISO 9001 quality standards and this is the only company in this field in Iceland to have been granted such certification. The company’s employees will be between 40 to 50. Gylfi Rútsson, DISTICA’s newly appointed CEO has held the position of director of finance and operations at Vistor hf., since 2003. Gylfi was previously the financial director of Tal from 1999 to 2003, the financial director of Tæknival from 1991 to 1999, and before that he worked at the finance company, Glitni hf. DISTICA’s goal is to fully utilize the advantages which a certified operation provides, as well as its significant customer satisfaction, in order to reinforce and expand its operation. This will result in the company being able to offer its first-class logistics and distribution services to other clients within the pharmaceutical and healthcare industry.