Pharmacy licence

A pharmacy buyer meets this term early, because ownership change is a regulator matter, not just a contract one. The three provinces below each have their own pharmacy statute and college, and their rules differ. Ontario detail is in pharmacy ownership rules in Ontario.

How it differs by province

• Ontario: the Ontario College of Pharmacists issues a certificate of accreditation under the Drug and Pharmacies Regulation Act, and says acquiring an existing pharmacy requires a new certificate.
• British Columbia: a direct owner holds the licence issued under the Pharmacy Operations and Drug Scheduling Act, naming a manager.
• Alberta: under section 14 of the Pharmacy and Drug Act a licence terminates in listed cases, including when the proprietor designated on the licence changes, when the licensee ceases to be responsible for the management, control or supervision of the pharmacy, and, subject to section 14(1.2), on a change in a major shareholder of a corporate proprietor.

What to ask

Ask the college which approvals the buyer needs before closing, and who must be named. See the designated pharmacy manager entry.