International lawyer Tihomir D. Kamenov founded Commercial League (today – ‘Global Pharma Center’) in 1991. Thirty-three years later, Commercial League is thriving as an iconoclastic medicine supplier for the Bulgarians, an indigenous and fully organic corporate growth story and a rarely seen innovative healthcare company in the region and in Europe as a whole. Today, the business conglomerate is recognized or to-be-recognized as leader in 5 knowledge industries in Bulgaria and beyond in dozen European markets. We are widely admired talent development laboratory.
From the outset, Kamenov has set the purpose to transform the health care and health insurance model both from bottom up and influence the change from top down. It was clear 33 years ago, as it is still valid today all across the Globe from the post “Obama Care” in the US to “Health China 2030” Presidential Program and in leading European systems that improving quality and securing wide access while controlling the imploding costs are the cornerstones of the healthcare systems transformation. For the founder of Commercial League, it was utterly clear that top-down legislative solutions alone cannot fix the post-communist wasteful and misdirected system. His authentic story of entrepreneurial innovation and success achieved through passion and hard work, starting from scratch in 1990 and growing to an employer of 1,600 people in 2019 and nearly 5,000 in 2025, became a trailblazer of all-encompassing care, which is massively recognized as a standard fare in many governmental programs and prospectuses. This can best be understood in the context of the times (click here) and through the unique characteristics of the person at the core of the company’s growth concept and values.
Commercial League is recognized as the only Bulgarian senior participant in the World Economic Forum, Davos, Switzerland, over the last 20 years and featured as a Balkan distinguished business model in many international publications and business rankings (click here).
1991
The founding
Bulgarian lawyer Tihomir D Kamenov, who specialized international public and private law in Europe, founds Commercial League in Sofia as a sole-owned limited liability firm. A few years later it became a limited company and changed its name to Commercial League National Pharma Center Inc.
1992 - 1993
Satisfying an unmet need for affordable and high-quality medicines
Developing and building warehouse, communications and transportation infrastructure. Becoming a distributor for state-owned pharmaceutical manufacturers and preferred supplier to the newly grown private retail pharmacies, incumbent municipality and state pharmacies and most of the hospitals.
1994 - 1995
New import and distribution agreements with Big Pharma multinationals fueled expansion
Commercial League traces a new strategic objective – to cover the entire pharmaceutical market and take a leadership position in it – and to this end develops an active sales system based on everyday telephone contact with the firm’s clients. The company won many of the tenders of the Ministry of Health for life-saving medicine deliveries and non-registered pharmaceuticals import. As a pronounced steward of vertical integration concept Commercial League started Distinguished Pharmacies retail chain later to reach influential 120 retail pharmacies across Bulgaria.
1996 - 1997
Unprecedented growth in times of financial crises
The company supplies over 2,000 pharmacies out of the 2,600 pharmacies registered in Bulgaria. Implemented innovative marketing strategy encompassing expansion of the range of additional services. At the core of this strategy are the unique programs Personal Sales, Professional Information Services and Urgent Deliveries. First state-of-the-art automated order-picking system in a CEE country was introduced in the Commercial League warehouse. Distinguished Pharmacies chain has achieved natural extension of its business model by introducing PharmaTel – a home delivery service in the major cities – a few years before the establishment of Amazon in the US for books delivery.
1998 - 1999
Further expansion of distribution network and clashes with the post-communist corrupt government of bandit privatization
Product range diversification has ranged from lifesaving pharmaceuticals to cosmetics and hygiene products to hospital consumables and equipment. Advanced PBM (pharmacy benefit management) programs such as “Care for You” were widely admired after the management exchange with Merck-Medco in New Jersey. Opening of Macedonian subsidiary in Skopje followed. However, the parliament even especially changed the law to prohibit preemptive blocking of the state hospitals accounts as interim court measure undertaken by Commercial League against their ever-growing burden of long- unserviced debt.
In Atlantic City, Donald J. Trump advised Tihomir D. Kamenov: “Get rid of people who have a problem for every solution. Praise the others.”
2000 - 2001
Distribution network completion and establishment of Tchaikapharma High Quality Medicines
Commercial League diversified into specialized services for the innovative pharmaceutical industry and took over two dozen new product market entry contracts. This in turn brought a new and very advanced product detailing and specialized marketing expertise. First GMP-certified Bulgarian manufacturer of high quality and affordable generic and in-licensed pharmaceuticals was founded in Varna. In parallel, the completion of branch structure enabled 100% territorial coverage in the country within 2 hours from the point of order. International partners entrusted the operation of 45 consignment warehouses nationwide.
2002 - 2003
Kamenov wins the award Businessman of Bulgaria 2002. Gradual departure from the high volume, capital intensive and low margin business model
First Bulgarian company with a sophisticated CRM system, based on a customized SAP R/3 platform. Milestone distribution, marketing and market-entry agreements with Novartis for new oncology products Femara®, Glivec®, Zometa®, Sandostatin Lar®. Sales have grown by 470% over three years for Rebif®. Distinguished Pharmacies and PharmaTel have grown exponentially.
2004 - 2005
Second manufacturing plant in Plovdiv
Commercial League became market leader in multiple sclerosis pharmaceutical marketing and distribution. Mandate Agreement with Aventis International (later Sanofi) and for two AstraZeneca products helped Commercial League to improve profitability while doubling overall sales including through the Ministry of Health tenders. The second manufacturing plant of Tchaikapharma in Plovdiv was inaugurated by the President of the Republic of Bulgaria Parvanov and Chairman Kamenov.
2006 - 2007
Service Agreement with Pfizer, Prohibition of Retail Pharmacy Chains. Anti-corruption Fight Intensifies
Service Agreement with Pfizer Corporation for the promotion of several cardiovascular and CNS products boosted the company offerings. An ISO 9001:2008-2015 Certificate is granted by Moody’s International for storage, warehousing and distribution of pharmaceuticals, cosmetic products, and hygiene supplies. Ill-conceived, the populist government prohibited retail chains and home delivery of prescription medicines which put to the end vertical integration in pharmaceutical trade sub-sector. Commercial League at the forefront in the anti-corruption fight in and outside Bulgaria: Davos, Washington D.C., Frankfurt.
2008 - 2009
Founding the Bulgarian Cardiac Institute and DallBogg Health Insurance
Bulgarian Cardiac Institute was initially a family of 12 specialized outpatient centers and 4 high-tech specialized hospitals in major district centers in Bulgaria. The hospitals specialized in urgent and elective invasive and interventional treatment. Health insurance had an anemic start as it was kept regulatorily outside the compulsory funded mandatory model. Revenue growth in distribution reached a plateau while new expertise in specialized marketing services delivered significant profit upside.
2010 - 2011
Groundbreaking entry in the Advanced Hospital Care by commencing the construction of the first ‘Heart and Brain’ Center of Clinical Excellence in Pleven
Commercial League extended the major multiproduct, multifunctional agreements with Roche and established its own in-house CRO Clinical Trials Inc. – with the intention to offer alternative ways of treatment and support in the research and development work for the leading European and American universities and pharmaceutical companies. Commercial League has already grown to national and international prominence as the recognized leader in healthcare.
2012 - 2013
First results in reducing cardiovascular mortality in Bulgaria
Improving the access to high quality medical care with opening of the Cardiology Hospital Madara in Shumen as the fifth specialized hospital in the BCI, notably, has later delivered a crucial statistical improvement in reducing cardiovascular mortality. The introduction of routine invasive treatment for patients with acute coronary syndrome and myocardial infarction in the region secured massive access to a modern cardiology treatment in Shumen, Razgrad, Targovishte – with more than 400 thousand inhabitants.
2014 - 2015
7TH - Tchaikapharma‘s Initial Public Offering. Аctual symbol ticker: THQM
Tchaikapharma High Quality Medicines Inc. was listed as a public company on the Bulgarian Stock Exchange. The IPO took place on 21 May 2015 with initial price of 3,59 BGN per share. About the end of 2024 it is above BGN 17.50 which ranks the company as distant publicly listed leader in Bulgaria by market capitalisation.
2016 - 2017
Introduction of complex generics turned Tchaikapharma into Emerging Business Leader in the Pharmaceutical Care
“Complex Generics are the future of massive pharmaceutical care” confirmed only later in 2021 the FDA Commissioner, Dr. Scott Gottlieb. The renowned business ranking “300 Business Leaders in Bulgaria” again praised Tchaikapharma as one of the most profitable, admired and influential companies in Bulgaria with BGN 372.5 million market cap as of 21/11/2016.
2018 - 2019
Expansion in Cardiac Surgery, Diplomacy Dialogue - Western Balkans
Heart and Brain Center of Clinical Excellence opened its second cardiac surgery in Burgas and achieved record low in-hospital mortality rate that was unknown before in Bulgaria. Tihomir Kamenov took part in a historical political summit at the World Economic Forum in Davos, discussing the advancement of long-term development of Eastern and Western Balkans – the first summit to assemble all Prime Ministers for the last seven years.
2020 - 2021
Two First Certificates for Investment Class A, Accelerated Pandemic Resistance and Adequate Response
Commercial League was certified by the Bulgarian Investment Agency as a Class A investor in January and March 2020 for its advanced hospital projects in Pleven and Burgas. Completion and commencing of the operation of the Stage one of ,Heart and Brain' Center of Clinical Excellence in Burgas marked the 30 years anniversary of the Commercial League Group. Architectural and Construction Bureau ‘Helvetia‘ was awarded with the prestigious “Building of the Year” for ,Heart and Brain' Burgas first building.
2022 - 2023
‘Mama and I’ Became a Resounding Success: History is in the Making
First newly built maternity and children’s clinic opened doors in ‘Heart and Brain‘ Complex in Pleven to reverberate admirations of pediatric community, parents and patients from arround the country. International recognition too is growing exponentially. Great hopes are invested and high trust is placed with the new clinics ‘Mama and I’ across the country to secure modern pediatric treatment and advanced care in the fight against the record high children’s mortality and relatively high general mortality and early invalidation.
2024 -
33 Years Commercial League Group. Record rate of return for the Universal Pension Fund
Commercial League Company Group has defied the odds to become a distinguished changemaker recognized widely as trailblazing venture transforming healthcare, life and business in Bulgaria, and beyond that, has accomplished a bunch of lasting achievements during over three decades. DallBogg: Life and Health UPF managed to achieve an enviable 10.08% yield.