PGMN3 Pharmacy Network: 1,657 Stores and Clinic Farma
Pague Menos (PGMN3) FRE business description is the map behind the digital and covenant posts: second-largest Brazilian pharmacy chain by store count, with a health-services overlay.
This page summarizes a business-model analysis from the 2025 FRE (figures through mid-2025 where disclosed). apicvm returns the filings.
The research question
> Describe history, business model, strategy, advantages, and market position.
Network and M&A
| Fact | Figure |
|---|---|
| Founded | 1981 (Fortaleza, CE) |
| IPO | September 2020 |
| Extrafarma acquisition (2022) | ~391 stores; ~R$ 267 million annual incremental EBITDA synergies (estimate) |
| Store count (30 Jun 2025) | 1,657 |
| Distribution centers | 9 |
Offer and services
- ~17k SKUs; >900 exclusive/private-label products (~6.3% of 1H25 sales)
- Specialty medicines unit (AME): >600 products (~1.3% of 1H25 sales)
- Loyalty / CRM: >57 million registered customers; ~92% of sales identified
- Clinic Farma in 1,155 units — company states Clinic Farma customers spend ~4× the average customer
- Digital share of gross revenue: 18.2% in 1H25; Click & Collect in 100% of stores
Market position (IQVIA 2Q25)
| Geography | Share |
|---|---|
| Brazil | 6.6% |
| Northeast | 20.6% |
| North | 16.0% |
Brazil pharmacy market cited ~R$ 221 billion (2Q25). Same-store sales +17.6% and adjusted EBITDA margin 5.2% in 1H25.
Prior PGMN3 digital post focused on omnichannel %. This page is the full franchise footprint — stores, Extrafarma, Clinic Farma, and regional share.
Replicate with apicvm
export APICVM_KEY='apicvm_...'
export APICVM_URL='https://apicvm.dev'
curl -H "Authorization: Bearer $APICVM_KEY" \
"$APICVM_URL/v1/companies/resolve?query=PGMN3&by=ticker"
curl -H "Authorization: Bearer $APICVM_KEY" \
"$APICVM_URL/v1/documents?ticker=PGMN3&type=FRE&year=2025&name=Hist"
curl -X POST -H "Authorization: Bearer $APICVM_KEY" \
-H "Content-Type: application/json" \
-d '{"callback_url":"https://your-server/callback","document":{"id":"<id>"}}' \
"$APICVM_URL/v1/document-text-extractions"Methodology note
Findings above come from a completed Hold analysis of the company's public 2025 FRE. This is a research illustration, not investment, legal, or tax advice. Verify numbers against the original filing before trading, modeling, or publishing reports.
Limitations
- apicvm returns filings and extracted text — it does not classify risks or compute coverage ratios.
- Figures are as of the FRE filing date; later ITRs or facts relevantes can update them.
- Corpus coverage depends on ingestion lag.
Next steps
Ready to integrate?
Get an API key and start querying Brazilian CVM filings programmatically.