Pharmacy Ownership Flashcards
Application fee for a pharmacy license
$345
Renewal fee for a pharmacy license
$260
Endorsement (relocation) fee for a pharmacy license
$50
Who can apply to own a pharmacy?
Anyone of good moral character
Corporate applicants: all officers/directors/stockholders having ≥10% interest in corporation all must be of good moral character
Do you have to be a pharmacist to own a pharmacy?
No
What do you have to do if the owner of a pharmacy is NOT an RPh?
Must have a licensed supervising pharmacist on the registration
PIC requirements to be on the registration of owning a pharmacy
Must only be in charge of one pharmacy
Must be full-time (30 hours minimum) or be there for the majority of the hours of operation
Rules on sales/transfers of a pharmacy: when do you notify the board of change in ownership?
Within 30 days
This also applies to a change in officers of corporation or in stockholders holding 10% or more in stock in the corporation
Rules on sales/transfers of a pharmacy: when do you notify the board about selling drugs at an auction?
Within 7 days of the auction
is there a fee for name change/renovation/owner change?
No
How long must you notify the board after a PIC change?
7 days
How long must you notify the board after damage to the pharmacy from flood, fire, natural disaster?
48 hours
Pharmacy signage: what must be on the sign?
Full name of the owner must be on prominent display on exterior of the premises
Pharmacy signage: what if the pharmacy’s in a multi-tenanted structure like a mall?
Must be in the directory and immediate entrance to the pharmacy
Pharmacy signage: where should the registration be?
Conspicuously displayed at all times inside the pharmacy
