• LATEST PHARMACY NEWS AND EDITORIAL

    LATEST PHARMACY NEWS AND EDITORIAL

Our latest thoughts and inspirations on buying a pharmacy, starting a pharmacy, and ongoing pharmacy operations

Buying a Pharmacy? What licenses and contracts are needed and how do I obtain them?

I am buying a pharmacy how do I obtain the correct licenses?

You found a pharmacy to buy, agreed on a price with the owner and now you just have to get to closing. But to close you need licenses, lot of licenses. It can be overwhelming and even complicated but don’t worry everyone feels that way and it is the number one service requested by our customers.

Unfortunately I cannot provide you with a list or a website to do it all in one place. Each state is going to be different but you will want to start with your state’s board of pharmacy as you will need your state license in order to obtain the other licenses and even sometimes your wholesaler agreement. And I can say with confidence you will, at a minimum, need State Board License, DEA, NPI and NCPDP. You may also need others like local business license, etc.

As stated the process is dependent on your state. For example in some states you need to have a fully operational location but in others just a lease. It is imperative you either review the requirements on your state board website (use this website to find your state’s board website http://www.nabp.net/boards-of-pharmacy) and I would highly recommend calling them also to clarify the process. Doing this will lead you to the DEA, NPI and NCPDP process.

I wish we could tell you more but the above is the only standard out there which is why companies like Independent Rx Consulting exist. If you need help, contact us.
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Tuesday, 20 August 2019

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