Pague Menos

About Pague Menos

In 1981, Francisco Deusmar de Queirós opened the first Pague Menos pharmacy in Fortaleza, Brazil. Inspired by American drugstores, he introduced a self-service model, placing hygiene and beauty products on shelves for customers to browse freely—a novel concept in Brazil at the time. This customer-centric approach, combined with competitive pricing, quickly set the company apart. By 1985, Pague Menos had formally adopted the drugstore model, and in 1993, it expanded beyond its home state, opening a store in Natal. That same year, the company launched its own compounding pharmacy. A key moment in its growth came in 2009, when Pague Menos became the first pharmacy chain to have a presence in every Brazilian state and the Federal District. In 2015, the company received a major boost with a R$600 million strategic investment from the private equity firm General Atlantic. This partnership fueled further expansion. The company's growth trajectory culminated in its Initial Public Offering (IPO) on the B3 stock exchange on September 2, 2020, raising over R$746 million. A year later, Pague Menos made another significant move, acquiring competitor Extrafarma for R$700 million, solidifying its position as the second-largest pharmacy chain in the country.