Banco Farmaceutico was founded in 2000 through the active collaboration between the CDO and Federfarma with the desire to meet the pharmaceutical needs of indigent persons by creating links between the pharmacies, pharmaceutical companies and Welfare Charities that operate throughout the territory. Since the first Medicine Collection Day, conducted in December 2000 exclusively in the city of Milan, the Banco Farmaceutico has rapidly expanded its presence throughout the country.

In response to a specific request for medication from a clinic in Nigeria in 2004 it began working abroad: its international presence has subsequently been strengthened with the opening of Banco Farmaceutico in Spain in 2008, Portugal in 2009 and by making a contribution in South-East Asia (2004), Uganda (2009) and Haiti (2010) in response to emergency situations and with projects which provide ongoing support.

In 2007 Banco Farmaceutico Research association was formed, dedicated to supporting collaboration between the Bank and Pharmaceutical companies for the joint management of donated drugs.

Finally, in 2008 the non-profit Fondazione Banco Farmaceutico onlus was founded to provide legal status for its work as an expanding institution.