Every business that engages in the wholesale distribution of prescription drugs including but not limited to manufacturing in the State of Mississippi or that sells or offers to sell drugs must register annually with the Mississippi Board of Pharmacy and provide the appropriate pharmaceutical drug facility surety bond. As per the language of the obligation the bond ensures compliance with the requirements of the Mississippi Pharmacy Practice Act, Mississippi Code Annotated § 73-21-71, et seq., and the rules and regulations adopted by the MBP. The surety bond also secures payment of any administrative penalties imposed by the MBP, and any fees and costs incurred by the MBP in relation to enforcing the rules and regulations should the principal fail to pay them. This surety was originally required in two distinct denominations based on the operator's sales volume ($100,000 or $10,000 for a facility whose annual gross receipts total $10,000 or less during the preceding tax year). During the 2017 conference the Board of Pharmacy changed the regulation to a $25,000 bond requirement for all registrants. The application materials may be downloaded from the MBP's website here. The Mississippi pharmaceutical drug facility surety bond, application and fees may be filed with the MBP at:
Mississippi Board of Pharmacy
6360 I-55 North, Suite 400
Jackson, MS 39211
The pharmaceutical drug facility surety bond is a continuous obligation however it is non-cumulative by specific wording. The surety may cancel the bond by certified or registered mail delivery to the MBP. No further liability may accrue from sixty days after receipt of cancellation notice OR upon delivery and acceptance of a replacement bond. The obligation does carry a one year tail during which period the MBP may file a claim.
Surety bond leader, Surety One, Inc. offers immediate approval of your pharmaceutical bond request. Our special programs afford each applicant bonding capacity regardless of financial condition. Operating in multiple states? We offer this class of surety bond in all states and also offer fidelity bond / commercial crime coverages for this class of business.
Surety bond application review and quoting are free of charge. There is no obligation to purchase.