Want to Set up Pharmacy Business?

Pharmacy business is ideal business. It is the business which is not affected by the monetary cycles.Increasing developments in the hospitals has also lead to the increasing demand for pharmacies. E-commerce companies and e-health companies are increasing their market with easy availability of medicines to customers by providing same day delivery, cost saving. The pharmacies can be setup in hospitals, shopping areas, residential buildings, and housing townships. Pharmacies in the residential building are in form of the firms.

Drug License for All Pharmacy Business

But one thing which is most important for setting up the pharmacy business without which this business cannot be carried is to obtain a drug license. Drug license is a permission granted by the authority under the Drugs and Cosmetic act to carry out a business of drugs/medicines or cosmetics.It is regulated by Drugs and Cosmetic Act, 1940. Drug license is issued by State Drugs Standard Control Organization or Central Drug Standard Control Organization

What is the requirement for issue of drug license?

1.     Area of pharmacy

If you are setting up the pharmacy business, one thing to be kept in mind is about the area of the business which should be min 10 square meters. If you are applying for wholesale drug license the minimum area should be 15 square meters.

2.     Storage facility

Now, the medicines need to be stored in a clean and low temperature premises. They should be stored in cool place so refrigerator and air conditioner is required for its storage. Computer and proper labeling and storage facility for the drugs is also required.

3.     Technical staff requirement

Now the pharmacy business need to be handled by the experiences staff or must be qualified and possess good knowledge of the medicines. So before proceeding for the documentation part, these point to be considered.

Documentation for Obtaining Drug License

Though the drug license issuance is a state matter and documentation may vary from state to state but the generic list of items are as follows:

• Application Form
• Covering letter with the name & designation of the applicant
• Copy of challan obtained by depositing fees for obtaining drug license
• Declaration in prescribed manner
• Site plan for the premises     
• Basis of possession of premises
• In case of rented property, ownership proof of premises
• Document related to constitution of business such as Incorporation certificate/ MOA/ AOA/ Partnership Deed.
• Affidavit related to non-conviction of director/partner/ proprietor.
• Testimony of registered pharmacist or competent person and their appointment letter in case of an employed person.

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