In 2003, it opened the first factory for the production of medicine in entity Republika Srpska, Bosnia and Herzegovina.

[3] In 2004, the company acquired four other Serbian concerns, increasing its market share from 15% to 45% in the process.

[5] Hemofarm was bought by the German STADA Arzneimittel pharmaceutical group for 480 million euros in 2006.

[citation needed] In August 2016, Hemofarm bought the assets of a Serbian minor pharmaceutical company "Ivančić i sinovi" for undisclosed amount.

An intensive development of products intended for registration and sale in the demanding European Union market started in 2007.