Pharmacies in Larvik: Industry Overview and Outlook

Other Observations

Larvik has a relatively stable pharmacy industry with 9 registered companies in 2025. There is a mix of older and newer companies, with most established in the 1990s and 2000s. The most active companies have between 10-20 employees, while two companies (Vitusapotek Helgeroa and Hovland Apotek As) have 0 employees and no operating income. This may indicate that these companies are in the start-up phase or have ceased operations.

The most prominent companies are the Vitusapotek family (four companies) and Apotek 1 (three companies). These have higher operating income and better EBITDA margins compared to smaller companies. There are no bankruptcy registrations in the industry, which indicates a stable industry structure.

There is a clear geographic spread: Larvik has 5 companies, Stavern 1 and Helgeroa 1. The latter two, however, have lower operating income and no employees, which may indicate potential development areas.

Economic Trends

In 2025, the pharmacy industry in Larvik had a total sales volume of NOK 236.4 million, representing an increase of 6.9% compared to 2024. This is the highest level since 2018. The number of employees increased from 76 to 78 in 2026, indicating stabilization after a decline in 2025.

Key trends:

• Sales volume: Largest increase in 2018 (+88.6%) and 2024 (+13.4%)
• Employees: Largest decline in 2021 (-9.3%) and 2025 (-14.6%)
• EBITDA margin: Remained stable at around 6% over the last five years
• Operating income per employee: Up to NOK 3.3 million per employee for the Vitusapotek family

Key Players in the Industry

Table: Registered companies in the pharmacy industry in Larvik (2025)

Organizational Form: 7 of the 9 companies are AS entities. Together, they have 80 employees and a combined operating income of NOK 189.9 million. The EBITDA margin for AS entities is 6%, which aligns with the industry average.

Geographic Distribution

Table: Distribution of pharmacy activity in Larvik municipalities (2025)

Larvik is the hub of the industry with 5 companies and 64 employees. Stavern has activity comparable to Larvik's center, while Helgeroa has a company (Vitusapotek Helgeroa) with 0 employees and no operating income. This may indicate potential development areas in Helgeroa.

Bankruptcies: No companies in the pharmacy industry have been registered in bankruptcy over the last five years. This indicates a stable industry structure.

Operational Efficiency: The most operationally efficient companies have:

• EBITDA margin of 6-7% (industry average)
• Operating income per employee of NOK 2.7-3.3 million per employee
• Sales volume of NOK 19-39 million per company

Development Areas: Two companies (Vitusapotek Helgeroa and Hovland Apotek As) have 0 employees and no operating income. This may indicate potential development opportunities in Helgeroa and for new companies in the municipality.

Positive Development: The sales volume has increased by 6.9% from 2024 to 2025, indicating growing demand for pharmacy services in Larvik. This may be due to increasing population numbers, an aging population, and increased focus on health and quality of life.

Potential Challenges: There are 9 companies in the industry, which may indicate a relatively saturated market structure. New entrepreneurs must therefore consider competition and find unique differentiation opportunities.

Geographic Opportunities: Helgeroa has potential for development, especially with Vitusapotek Helgeroa already having a company in the area. This can be a strategic location for new companies.

Broader Industry Grouping: The handicraft industry in Larvik has 10 companies compared to 9 companies in the pharmacy industry. This indicates that the handicraft industry is somewhat larger in the municipality.

Key Figure Comparison:

• Sales: The handicraft industry had NOK 236.8 million in 2025, slightly higher than the pharmacy industry (NOK 236.4 million)
• Employees: The handicraft industry had 79 employees in 2026, slightly higher than the pharmacy industry (78 employees)
• EBITDA Margin: The handicraft industry had an average EBITDA margin of 6%, the same as the pharmacy industry

Peer Company: Vikle Ut As (medical/orthopedic goods store) had in 2025:

• Sales: NOK 749.0K
• Employees: 1
• EBITDA: NOK -50.0K
• Address: Sverres gate 15, 3257 Larvik

Conclusion

The pharmacy industry in Larvik shows positive development with increased sales volume and stable number of employees. There are 9 companies in the industry, with the most prominent companies being the Vitusapotek family and Apotek 1. Helgeroa has potential for development, especially with Vitusapotek Helgeroa already having a company in the area.

For entrepreneurs, it may be possible to find unique differentiation opportunities in Larvik's pharmacy industry, especially in Helgeroa. SmartGrunder can help find suitable addresses and develop strategies for new companies in the municipality.