Iowa Pharmacy Bond Overview
- Purpose: To ensure wholesale pharmaceutical distributors uphold state regulations
- Who Needs It: All pharmaceutical wholesale distributors supplying drugs in Iowa
- Regulating Body: The Iowa Board of Pharmacy
- Bond Amount: $25,000 or $100,000
- Minimum Price: $250 or 1%
What Is an Iowa Pharmacy Wholesale Distributor Bond?
An Iowa pharmacy wholesale distributor bond ensures distributors follow state regulations regarding the handling, distribution and quality of medications.
If you distribute prescription drugs within, into, or out of Iowa, you must be licensed and bonded with the Iowa Board of Pharmacy. This applies to both resident and nonresident wholesale distributors.
Bond Coverage Requirements for Iowa Pharmaceutical Wholesalers
Pharmacy bond coverage is based on your gross annual receipts from the previous year’s taxes.
| Gross Annual Receipts Tax | Bond Coverage |
|---|---|
| <$10,000,000 | $25,000 |
| ≥$10,000,000 | $100,000 |
How Much Do Pharmacy Bonds Cost in Iowa?
Iowa pharmacy bonds start at $250 for $25,000 coverage or $1,000 for $100,000 coverage. We’ll run a quick credit check to determine your personalized rate.
Select your bond amount below to apply for a free quote.
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Does an Iowa Pharmacy Bond Work?
An Iowa pharmacy bond is a legal contract between three parties: a principal, obligee and surety company.
| Bond Party | Description |
|---|---|
| Principal | The wholesale pharmacy distributor filing the bond |
| Obligee | The Iowa Board of Pharmacy requiring the bond |
| Surety | The issuing surety provider |
The bond is a financial guarantee to the Board that you’ll comply with the Drug Supply Chain Security Act. This includes maintaining systems to track each prescription drug and verifying the license status of your partners.
How Do I Get a Wholesale Drug Distributor Bond in Iowa?
With SuretyBonds.com, you can apply for a free quote online 24/7. Simply enter your information into the form on this page. We’ll send you your exact price within one business day.
Once you pay the premium, select a FedEx shipping option to receive your official bond form. If you’re in a rush, we offer overnight shipping.
Can I Get Bonded With Bad Credit?
Yes, you may still be able to get bonded with bad credit. However, poor credit will likely increase your premium rate.
Fill out the free quote request form to receive your personalized price within one business day.
How Do I Renew My Pharmacy Bond?
Iowa pharmacy bonds expire annually. We’ll send you renewal reminders starting 90 days before the expiration date. Simply pay the attached invoice to extend your bond for another year.
Can I Make Changes to My Bond?
Yes, you can typically make small changes to your bond, such as name or address, by contacting your surety company. If you purchased your bond from us, email [email protected] with the updated information.
How to Become a Pharmacy Wholesale Distributor in Iowa
The Iowa Board of Pharmacy requires a license for all distributors that do business in Iowa, even if your facility is in a different state. Each of your locations requires a separate license.
Resident
If your facility is located in Iowa, follow these steps to get a license:
- Buy a Bond: Get a surety bond in the required amount.
- Apply: Complete and mail the application form. If you handle controlled substances, you also need to register under the Iowa Controlled Substances Act.
- Undergo Inspection: Once your application is approved, you’ll receive an email with instructions for how to schedule a Board inspection.
While you don’t need accreditation for your initial application, you will need to submit proof of NABP or NCDQS accreditation by your first renewal.
Non-Resident
If your facility is located in a different state but you do business in Iowa, follow these steps to get a license:
- Get a Home State License: Maintain a current license in the state where your facility is physically located.
- Receive Accreditation: Secure the Drug Distributor Accreditation (DDA) by the NABP or Quality and Security Accreditation (QAS) by the NCDQS.
- Buy a Bond: Get a surety bond in the required amount.
- Apply: Complete and mail the application form and designate a registered agent located in Iowa. If you handle controlled substances, you also need to register under the Iowa Controlled Substances Act.
- Submit Fingerprints: Once you apply, the Board will mail you a fingerprint packet. Do not send fingerprints until you receive this official notice.
The application process typically takes four to six weeks to complete.
How to Renew Your License
In Iowa, pharmacy wholesale distributor licenses expire annually on December 31. Renew your license online and submit proof of an up-to-date surety bond.
If your facility changes its name, facility manager, or location, submit a new application as soon as possible.
How Much Does It Cost to Get a Pharmaceutical Wholesaler License in Iowa?
You can expect to pay at least $1,045 to get your wholesale pharmaceutical distributor license in Iowa. This includes the following fees:
| Fee | Amount |
|---|---|
| Application Fee | $750 |
| CSA-B Registration Fee | $90 |
| Facility Manager Criminal Background Check Fee | $45 |
| Surety Bond Premium | $250+ |
| Renewal Fee | $750 |
| CSA Renewal Fee | $90 |
You’ll also need to consider the cost of accreditation, DSCSA-compliant inventory software and climate-controlled infrastructure.
