Pursuant to Iowa statute, "wholesale distribution" means the distribution of a drug to a person other than a consumer or patient, or the receipt of a drug by a person other than a consumer or patient. A special license and Iowa wholesale distributor bond are required for operation in the state. The Iowa Board of Pharmacy has established rules for wholesale distributor licenses, licensure fees, and other relevant matters consistent with the federal Drug Supply Chain Security Act, 21 U.S.C. §360eee et seq. The wholesale pharmaceutical distributor surety bond and new licensing protocols became effective on January 1st, 2019. All operators should be fluent it the new procedures which can be viewed here. Those out-of-state operators have also now come under the licensing scheme. They must comply with the Controlled Substances Act (CSA) and the Iowa-specific statutes and administrative codes.
The Iowa wholesale distributor bond is explained in the Administrative Codes (657-17.3(b)) promulgated by the Board. "The applicant shall file with the board a $100,000 surety bond or proof that the wholesale distributor possesses the required surety bond in another state where the wholesale distribution facility is domicile. The bond guarantee's the licensee's "compliance with all applicable laws and rules and to secure payment of any administrative civil penalties, costs, or fees due to the Board. The Board may claim against the bond if the distributor does not pay the assessment(s) within thirty (30) days after such administrative civil penalties, costs, or fees become final. Application materials and the Iowa wholesale pharmaceutical distributor bond are submitted to:
Iowa Board of Pharmacy
400 S.W. Eighth Street, Suite E
Des Moines, IA 50309-4688
Surety bond leader, Surety One, Inc. offers immediate review and approval of your pharmaceutical bond request. Our special programs afford each applicant bonding capacity regardless of financial statement condition. Operating in multiple states? We provide this class of surety bond in all states and also offer fidelity bond / commercial crime coverages for these operators. Call us at (800) 373-2804, email us at Underwriting@SuretyOne.com or click here for live chat about the Iowa wholesale distributor bond or any other surety bond need.
Surety bond application review and quoting are free of charge. There is no obligation to purchase.