How To Start A Pharmacy Business By Obtaining Drug License?
In the modern world today when bio-sciences is advancing at an unprecedented pace, a pharmacy business might just be the most profitable of ideas. With innumerable medicine manufacturing companies coming up with better medications for every sort of disease, the idea is indeed worth investing. While stocking medicines and establishing a retail shop is simple enough, the biggest challenge to starting a pharmacy is obtaining a drug license.
The State Drugs Standard Control Organization and the Central Drugs Standard Control Organization control drug licensing in India. The two types of licenses issued are the Wholesale Drug License (WDL) and the Retail Drug License (WDL). The requirements for obtaining these licenses include:
Area: A minimum 10 square meter of an area is required to set up a wholesale or retail outlet.
Storage facility: A store must have an air conditioner and a refrigerator. Certain drugs are stored in refrigerators according to the labelling specifications.
Technical staff: The drug sale at a wholesale store must be either made in a registered pharmacist’s presence or in the presence of some other competent person. At a retail store, the sale must be made in a registered pharmacist’s presence.
Some of the documents required for procurement of a drug license are:
- Application form in the prescribed format
- Challan of fee deposited for obtaining drug license
- Covering letter with the intent of the application signed with name and designation of the applicant
- Key plan (Blueprint) for the premises
- Site plan (Blueprint) for the premises
- Proof of ownership of the premises, if rented
- Declaration form in the format prescribed
- Basis of possession of the premises
With these requirements taken care of, obtaining the license is just a matter of days. So get your shop ready, partner up with medicine manufacturing companies and start up a business profitable all year round.