Corporate History

International lawyer Tihomir D Kamenov founded Commercial League Global Pharma Center in 1991. Twenty-eight years later, Commercial League is thriving as an iconoclastic medicine supplier for the Bulgarians, an indigenous growth story and a rarely seen innovative healthcare company in the region and in Europe as a whole.

 

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 30 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 Europe 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, became a trailblazer of all-encompassing care, which is massively recognised 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 participant in the World Economic Forum, Davos, Switzerland and featured as a Balkan success story 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 the distributor for state-owned pharmaceutical manufacturers.

1994 - 1995

New import and distribution agreements signed with large multinationals

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 participates actively and successfully in Ministry of Health’s tenders for life-saving medicine deliveries and non-registered pharmaceuticals import.

1996 - 1997

Unprecedented growth

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 introduced in the Commercial League warehouses.

1998 - 1999

Further expansion of distribution network throughout Bulgaria

Product range diversification including four main business divisions: pharmaceuticals, nutritionals, cosmetic products and hygiene supplies and dental materials and equipment.Opening of Macedonian subsidiary in Skopje and “Care for You” Medicine Program developed. It represents a system of modern mechanisms for improvement of therapeutic results and PBM (pharmacy benefit management) in a Bulgarian setting.

2000 - 2001

Founding of Tchaikapharma High Quality Medicines

Further growth secured for international partners and operation of 45 consignment warehouses nationwide. Expanding the corporate branch structure and reaching 100% territorial coverage within 2 hours from the point of order. Bulgarian manufacturer of high quality and affordable generic and in-licensed products.

2002 - 2003

Tihomir Kamenov wins the award Businessman of Bulgaria 2002 of the “Economic Life” Foundation

First Bulgarian company with a sophisticated CRM system, based on a customized SAP R/3 platform. Signing a distribution agreement with Novartis followed by a milestone market-entry and long-term marketing agreement for new oncology products Femara®, Glivec®, Zometa®, Sandostatin Lar® in June 2003. Sales growth of 470% over three years for Rebif®.

2004 - 2005

Second manufacturing plant in Plovdiv

Commercial League becomes a market leader in multiple sclerosis pharmaceutical marketing and distribution. Mandate Agreement with Aventis Internatiоnal. Commercial League doubles sales for two AstraZeneca products. New oncology products included in the Ministry of Health Tenders. The second manufacturing plant of Tchaikapharma in Plovdiv was inaugurated by President of the Republic of Bulgaria Mr Georgi Parvanov and Chairman Kamenov.

2006 - 2007

Service Agreement with Pfizer

The company signs a Service Agreement with Pfizer Corporation for the promotion of several cardiovascular and CNS products. An ISO 9001:2008 Certificate is granted by Moody International for storage, warehousing and distribution of pharmaceuticals, cosmetic products, and hygiene supplies.

2008 - 2009

Founding the Bulgarian Cardiac Institute and DallBogg Insurance

Bulgarian Cardiac Institute is a family of 12 specialized outpatient centers and 4 high-tech specialized hospitals in Bulgaria.The hospitals specialize in urgent and elective invasive and interventional treatment.

2010 - 2011

Groundbreaking of Heart and Brain Clinical Center of Excellence in Pleven

Commercial League renewed major multiproduct, multifuctional agreements with F. Hoffmann-La Roche Ltd. Founding Clinical Trials Inc in 2010 – created with the intention to offer alternative ways of treatment as well as support in the research and development work of a number of leading European and American universities and pharmaceutical companies. Commercial League has 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. The second specialized cardiology hospital in Northeast Bulgaria, was opened on 27 March 2013. It introduced the routine invasive treatment of patients with acute coronary syndrome and myocardial infarction in the region. It provides access to a modern cardiology treatment for patients from Shumen, Razgrad, Turgovishte – more than 400 thousand people.

2014 - 2015

7TH - Tchaikapharma‘s Initial Public Offering

Tchaikapharma High Quality Medicines Inc. was listed as a public company on the Bulgarian Stock Exchange in 2015. The IPO took place on 21 May 2015 with initial price of 3,59 BGN per share.

2016 - 2017

Tchaikapharma - the Business Leader

The renowned business ranking “300 Business Leaders in Bulgaria” for one more year honoured Tchaikapharma High Quality Medicines Inc. as one of the most profitable and influential companies in Bulgaria. These positive trends determine the high market capitalization of the company amounting to approximately 372.5 million leva (as of 21/11/2016).

2018 - 2019

Diplomacy Dialogue-Western Balkans

Tihomir Kamenov took part in a historical high summit meeting, following a special invitation of WEForum Davos, discussing the advancement of long-term development of Eastern Balkans and has been the only assembly organized for Prime Ministers for the last seven years. Heart and Brain Center of Clinical Excellence opens its second cardiac surgery in Burgas.