By Brazil Stock Guide – Brazil’s pharmacy retail sector generated R$118.5 billion in 2025, according to the latest Abrafarma ranking compiled with FIA-USP, marking a 14.9% increase year over year and reinforcing the sector’s defensive profile in a high-interest rate environment.
The ranking, based on revenue, shows no change at the top. RD Saúde retained first place for the 15th consecutive year, followed by Grupo DPSP and Grupo Pague Menos. Farmácias São João and Dimed (Panvel) complete the top five. The stability is notable: the top six positions remained unchanged from 2024, highlighting high barriers to entry and a competitive structure dominated by a few large players.
Minimal movement
The only relevant shift within the top 10 was Drogal moving up to 7th place, overtaking Nissei. Beyond that, the ranking remained virtually unchanged, suggesting that sector growth is not translating into competitive reshuffling.
This dynamic points to execution — rather than disruption — as the key driver of performance. Gains are coming from efficiency, organic expansion and incremental market share capture, not from structural changes in leadership.
“The ranking highlights the consolidation of affiliated networks not only through consistent sales performance, but also through their commitment to expanding access to healthcare,” said Sergio Mena Barreto, CEO of Abrafarma.
Scale matters
Abrafarma-affiliated companies ended 2025 with 11,688 stores, up 5.9% year over year. More importantly, despite representing only about 11% of total pharmacy locations in Brazil, these networks account for roughly 53% of all medication dispensing nationwide.
That imbalance reflects a clear scale advantage — with implications for logistics, supplier negotiations and cost efficiency — reinforcing the dominance of large groups in an otherwise fragmented market.
Abrafarma Ranking – Revenue by Group (2025 vs 2024)
| Rank 2025 | Rank 2024 | Economic Group | Main Brands | Change |
|---|---|---|---|---|
| 1 | 1 | RD Saúde | Raia, Drogasil | = |
| 2 | 2 | Grupo DPSP | Drogaria São Paulo, Pacheco | = |
| 3 | 3 | Grupo Pague Menos | Pague Menos, Extrafarma | = |
| 4 | 4 | Farmácias São João | São João | = |
| 5 | 5 | Dimed (Panvel) | Panvel | = |
| 6 | 6 | Drogaria Araújo | Araújo | = |
| 7 | 8 | Drogal | Drogal | ▲ +1 |
| 8 | 7 | Drogarias Nissei | Nissei | ▼ -1 |
| 9 | 9 | Farmácia Indiana | Indiana | = |
| 10 | 10 | Drogaria Venâncio | Venâncio | = |
| 11 | 11 | Drogarias Globo | Globo | = |
| 12 | 12 | Grupo Tapajós | Santo Remédio, Flexfarma | = |
| 13 | 13 | Farmácia Permanente | Permanente | = |
| 14 | 14 | Farma Ponte | Ponte | = |
| 15 | 15 | Drogaria Minas Brasil | Minas Brasil | = |
| 16 | 16 | A Nossa Drogaria | Nossa Drogaria | = |
| 17 | 17 | Drogaria Moderna | Moderna | = |
| 18 | 18 | Farmácia Santa Lúcia | Santa Lúcia | = |
| 19 | 19 | Drogão Super | Drogão | = |
| 20 | 20 | Farmácias Vale Verde | Vale Verde | = |
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