Rafael Teodoro Zubillaga

EY World Entrepreneur Of The Year™ Class of 2023, Venezuela
Chairman of Farmatodo

Share the joy of Rafael Teodoro Zubillaga’s winning moment at Entrepreneur Of The Year™ Venezuela.

Rafael Teodoro Zubillaga expanded his vision for a 105-year-old family pharmacy business.

Rafael Teodoro Zubillaga sought to rethink the format of traditional pharmacy stores when he joined the 105-year-old family business in 1976 after his father’s death. Having recently graduated with an Economics degree from Andrés Bello Catholic University, Rafael and his brother envisioned Lara Drugstore Group as a larger retail chain. 

In 1984, the company began a reorganization, merging the concept of pharmacy and perfumery in the same location. Renamed Farmatodo in 1988, the company is now the largest retail pharmacy in Venezuela, with 178 stores. It also has 85 locations in Colombia and three in Argentina after ramping up its expansion efforts in 2008.

Over the years, Rafael’s innovative spirit led the company to modify the size of the stores and widen the variety of products, increase the use of technology, strengthen the role of pharmacists, and keep stores open 24/7. Farmatodo was also one of the first companies to introduce self-service to Latin America, making its neighborhood drugstores a welcome addition to local communities.

Rafael previously served as Farmatodo Executive President and is currently Chairman of the Board of Directors. His company places a high value on ethics, excellence, respect and humility, customer orientation, and commitment and innovation. These personal and family values have informed the business for the past two generations and affected the lives of its 7,000 employees.