Which entity must be notified in writing when 5-50% equitable ownership of a pharmacy is transferred?

Which entity must be notified in writing when 5-50% equitable ownership of a pharmacy is transferred?

• A. Board
• B. State Board
• C. FDA
• D. No one

Answer: (A)

Ownership changes in a licensed pharmacy must be reported in writing to the Board. When 5 to 50 percent of the equity is transferred, the Board must be notified so it can review and verify who ultimately controls the pharmacy and ensure the new owners meet qualifications and comply with state pharmacy laws. This helps protect public safety by keeping licensing records accurate and ensuring ongoing regulatory oversight. Agencies like the FDA do not handle ownership transfers for pharmacies, and this isn’t a situation where no one needs to be notified.

Ownership changes in a licensed pharmacy must be reported in writing to the Board. When 5 to 50 percent of the equity is transferred, the Board must be notified so it can review and verify who ultimately controls the pharmacy and ensure the new owners meet qualifications and comply with state pharmacy laws. This helps protect public safety by keeping licensing records accurate and ensuring ongoing regulatory oversight. Agencies like the FDA do not handle ownership transfers for pharmacies, and this isn’t a situation where no one needs to be notified.