Distica hf. (company registration 6806044010) is Iceland's largest pharmaceutical distributor, claiming approximately 70% of pharmaceutical distribution in Iceland according to its parent company Veritas's own website. State institutions paid Distica ISK 14.3 billion in approximately 1,020 payments between 2019 and 2025, according to Iceland's open government spending registry (Opnir reikningar). Landspítali National Hospital accounts for approximately 90% of these payments. The ultimate beneficial owner of Distica is Hreggviður Jónsson (born June 1963), who holds approximately 52.91% of Guðrúnarborg ehf. indirectly through Stormtré ehf. (company registration 4406023040), which is wholly owned by Hreggviður and his family. The ownership chain is: Stormtré (100% family-owned) → Guðrúnarborg ehf. (92.1% Stormtré, 5.9% Trausttak ehf., 2% RE22 ehf.) → Veritas ehf. → Distica hf. In 2012, Iceland's Competition Authority (Samkeppniseftirlitið) issued Decision 23/2012 blocking Veritas's acquisition of Fastus ehf., a medical device supplier. The authority's ruling cited Distica's approximately 70% market share in pharmaceutical distribution and found that buyer power was insufficient to counterbalance the group's dominance. On January 6, 2022, Hreggviður Jónsson stepped down from the boards of Veritas and all related companies after his name appeared in connection with sexual misconduct allegations. No criminal charges were filed. In a public statement, he said: 'I regret not having stepped out of the situation. I do not consider myself to have broken the law but I will step down from the Veritas board and all related company boards.' In August 2023, following the departure of CEO Hrund Rudolfsdóttir after ten years in the role, Hreggviður returned as chairman of the Veritas board. Veritas ehf. reported consolidated revenue of ISK 36.2 billion and net profit of ISK 1.26 billion in 2025, with approximately 268 employees across five subsidiaries. Distica's net margin is approximately 0.2%, while sister company Vistor ehf. holds a margin of approximately 3.7%. Vistor sells approximately 95% of its goods to Distica at intercompany prices, meaning the profit from pharmaceutical sales to the state sits primarily in Vistor, not in Distica. In 2022, Veritas's annual report announced a sale process for the group, with outcomes expected by mid-2023. The sale did not proceed and is not mentioned in subsequent reports. Combined, Distica and Parlogis ehf. (the subject of Part 1 of this series) received ISK 30.7 billion in state payments between 2018 and 2026 — placing the two companies among Iceland's ten largest recipients of state payments, ahead of institutions including Landspítali itself (ISK 8 billion) and the Central Bank of Iceland (ISK 13 billion). Sources: Annual reports of Distica hf. 2021–2025; Annual reports of Vistor ehf. 2022–2025; Annual reports of Veritas ehf. 2021–2025; Annual reports of Guðrúnarborg ehf. 2023–2025; Annual reports of Stormtré ehf. 2022–2024; Competition Authority of Iceland, Decision 23/2012; Iceland open government spending registry (Opnir reikningar) 2018–2026; Vísir, January 6, 2022; Heimildin, income rankings 2018; VB, August 2023.