Oregon Pharmacy Wholesaler Bond Guide
If you’re registering to open a pharmacy wholesale company in Oregon, you may need a surety bond. Learn all about the bonding process and requirements in this guide.
Bond Overview
- Purpose: To protect the Board of Pharmacy from financial harm and ensure safe distribution practices
- Who Needs It: Non-accredited Class 1 pharmaceutical wholesalers
- Regulating Body: The Oregon Board of Pharmacy
- Required Coverage: $100,000
- Premium Rate: Starts at $1,000, credit-based
What Is an Oregon Pharmacy Wholesaler Bond?
An Oregon Class 1 pharmacy wholesaler bond is a type of surety bond that protects the state Board of Pharmacy from financial harm.
It holds pharmaceutical wholesalers financially liable for upholding Oregon laws and regulations if they are not NABP-accredited.
How Much Do Pharmacy Wholesaler Bonds Cost in Oregon?
The state-required $100,000 pharmaceutical wholesaler bond starts at $1,000 for qualified applicants. Your financial qualifications may impact your rate. Apply for a free quote now.
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
Who Needs a Pharmacy Wholesaler Bond?
Per Oregon Administrative Rule 855-065-0005(22)(a), any wholesale drug outlets that are not accredited by The National Association of Boards of Pharmacy (NABP) must file a $100,000 surety bond.
How Does the Bond Work?
An Oregon Class 1 pharmacy wholesaler bond creates a legal contract between three parties:
- Principal: The pharmacy wholesaler filing the bond
- Obligee: The Oregon Board of Pharmacy requiring the bond
- Surety: The provider issuing the bond
This guarantees the Oregon Board of Pharmacy will receive payment for any penalties, costs or legal fees incurred by a wholesaler’s misconduct.
The Board can file a bond claim up to one year after the wholesaler’s registration expires.
How Do I Get a Pharmacy Wholesaler Bond?
To get your Oregon drug wholesaler bond, follow these steps:
- Submit a quick online application form
- Receive a free quote
- Complete the online purchase
We’ll mail you the bond via your preferred shipping method. Be sure to sign and submit the bond along with your license application packet.
How Do I Renew My Pharmacy Wholesaler Bond?
Oregon pharmacy bonds expire annually. Pay the renewal invoice when prompted to extend your current policy for another.
You’ll receive a continuation certificate to file with the Board as proof of coverage. If your policy expires, you will likely need to purchase a new bond.
How to Become a Pharmacy Wholesaler in Oregon
To become a Class 1 pharmacy wholesaler in Oregon, complete the application for registration form and attach the following materials:
- $525 application fee, $625 if handling or distributing controlled substances
- Controlled substances application and copy of DEA registration (if applicable)
- Either $100,000 surety bond plus current inspection report OR proof of current NABP accreditation
- Copy of resident state license/registration AND license/registration verification (only out-of-state applicants)
- Responsible party attestation form
Mail the packet to: Oregon Board of Pharmacy, 800 NE Oregon Street, Suite 150, Portland OR 97232
The license expires annually on September 30.
