Although many companies are not aware that a license is required to distribute pharmaceutical products, they still conduct business without it. Distributing these kind of products without the proper authorization the company takes a lot risks of both civil and criminal proceedings.
Holding a pharmaceutical distribution license allows the company to offer any kind of product of this sort, from over-the-counter-drugs (medicine sold without any doctor´s prescription) to prescription drugs and antibiotics. The company better be free in the choosing of its suppliers, meaning, it allows the company the opportunity of purchasing pharmaceutical products from other countries, at much lower costs. The license authorizes the company to offer generic drugs.
Another tool to distribute pharmaceutical goods is the internet, through which the company will be able to offer the products worldwide, reaching clients everywhere. A virtual office will be a key solution to work with the offering of products through the internet. The license can be granted to an offshore corporation, meaning the profit will not be taxable, and will keep the directors or members from any possible liability.
Advantages in obtaining a pharmacy license:
- all nationalities accepted as directors or owners
- basic due diligence requirements
- quick approval
- affordable registration fees
- competitive renewal fees
- operations can be carried out worldwide
- no paid up capital required
- tax exempt
- no bookkeeping
- no accounting
- no auditing
- no reporting