Marathon Trading Firm was established in 1960 by Ioannis M Kapakiotis as a marketing and distribution company of pharmaceutical and hospital supplies for the Cyprus market. It commenced operations representing manufacturers Calmic Ltd UK, Pharmaton SA Switzerland and Terumo Corporation of Japan.
George Kapakiotis joined the business in 1968. Ioannis M Kapakiotis & Son Ltd (IMK) was established in 1976, trading under the registered name of Marathon Trading. The company’s product portfolio extended to include food supplements, medical devices and other pharmacy related products.
IMK appointed sole agent for The Wellcome Foundation Ltd
IMK appointed sole agent for ICI Pharmaceuticals (Zeneca)
Following the takeover of Wellcome by Glaxo, IMK appointed sole distributor for GlaxoWellcome
Following the merger between Astra and Zeneca, IMK and Astra agents, C G Papaloisou Ltd (CGP), form Alector Pharmaceuticals Ltd to market and distribute AstraZeneca pharmaceuticals
IMK and CGP establish Marathon Distributors Ltd (MDL) to distribute products marketed by Marathon Trading, Alector and CGP to pharmacies, hospitals and medical profession
The merger between GlaxoWellcome and Smithkline Beecham leads to further consolidation. IMK and C.A.Papaellinas Ltd (CAP), form Kapakiotis and Papaellinas Ltd (KP) to distribute GlaxoSmithKline pharmaceuticals
MDL moves to its new distribution center at Latsia on the outskirts of Nicosia
MDL merges with Pharmnet Ltd, following approval by the Cyprus Protection of Competition Authority, to form the Island’s largest distribution company with 38% share of the private sector pharmaceutical market.