Founded on 18 July 1945, Galenika was a major pharmaceutical drug-maker in the Balkans with exports to Europe, Africa and Asia.

During its golden times, it was the greatest Yugoslav pharmaceutical company which controlled over 65% of SFR Yugoslavia market share.

[3] Following the overthrow of Slobodan Milošević in October 2000, the company returned on track and each year had tens of million euros of positive net income.

As of 2006, Galenika remained a leader in research and development as the only pharmaceutical company in Serbia with an institute registered with the Ministry of Science and Environmental Protection.

In August 2017, the Government of Serbia converted company's debts to state into shares in ownership structure, worth 14.696 billion dinars (122.81 million euros).