Kentucky Pharmacy Wholesaler Bond Guide
In Kentucky, all pharmaceutical wholesalers must file a $25,000 surety bond for licensure with the Board of Pharmacy.
Bond Overview
- Purpose: To ensure pharmacy wholesalers uphold state regulations
- Who Needs It: All pharmaceutical wholesalers in Kentucky
- Regulating Body: The Kentucky Board of Pharmacy
- Required Coverage: $25,000
- Premium Rate: Credit-based, typically 1–1.5%
Keep scrolling to learn more about the bonding process.
What Is a Kentucky Pharmacy Wholesaler Bond?
This type of license and permit bond ensures pharmaceutical wholesalers comply with state standards and pay any penalty fees incurred.
The Kentucky Board of Pharmacy requires a surety bond for licensing as a wholesaler, wholesale distributor or virtual manufacturer.
How Much Do Pharmacy Wholesaler Bonds Cost in Kentucky?
Kentucky pharmacy wholesaler bond premiums typically cost 1-1.5%, based on credit score. For example, qualified applicants often pay just $250 for $25,000 coverage.
Apply below to get your free personalized quote.
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Does a Kentucky Pharmaceutical Distributor Bond Work?
A Kentucky pharmaceutical distributor bond is a legal contract between three parties:
- Principal: The pharmacy wholesaler purchasing the bond
- Obligee: The Kentucky Board of Pharmacy requiring the bond
- Surety: The provider issuing the bond
Under this contract, you, as the principal, promise to uphold the provisions of Kentucky Revised Statutes Chapter 315.
If you break these terms, harmed parties can file claims on the bond. The surety will validate and pay claims up to the full bond amount. However, you are ultimately responsible for refunding the surety.
Who Needs a Pharmacy Wholesaler Bond?
Any resident or nonresident involved in distributing wholesale pharmaceuticals in Kentucky, including prescription and over-the-counter medications, must file a $25,000 surety bond.
You are exempt if you meet one of the following criteria:
- Publicly-held companies
- Medical gas wholesalers
- Distributors that are licensed in states with comparable bond requirements
- Distributors working within a single health care entity under common ownership
The Board accepts alternative forms of financial security, such as a letter of credit or a certificate of deposit, instead of a surety bond. However, a surety bond is typically the most affordable and efficient option.
How Do I Get a Pharmacy Bond in Kentucky?
SuretyBonds.com provides the fastest and easiest way to get a pharmacy wholesaler bond. Just follow these simple steps:
- Apply Online: Enter your information to receive a personalized quote
- Pay Invoice: Complete your purchase online or over the phone
- Receive Bond: Receive your official bond form via email
Upon receipt, sign and file the bond documentation with the Board.
How Fast Can I Get My Bond?
SuretyBonds.com issues pharmacy wholesaler bonds faster than any other provider. We process most bond applications same-day. Apply now to receive your free quote.
Can I Get Bonded With Bad Credit?
Yes, you may still be able to get bonded with bad credit. However, poor credit may increase your premium rate.
Apply now to receive your personalized quote or visit our Surety Bond Cost FAQ page to see how credit may impact your cost.
How Do I Renew My Wholesale Distributor Bond?
Kentucky wholesale distributor bonds expire annually on September 1. When you work with SuretyBonds.com, we’ll send you reminders before your bond expires.
All you need to do is pay your renewal invoice to maintain coverage.
How to Become a Pharmacy Wholesaler in Kentucky
In Kentucky, you need a pharmacy wholesaler license to distribute prescription drugs and devices within the state, even if you’re based elsewhere.
To apply, complete the Wholesaler Initial Application via Licensure Gateway. Pay the $150 application fee and attach proof of the surety bond.
Nonresidents must also submit the following supporting documents:
- Copy of your resident state wholesaler permit
- Verification of your license status from your resident state
- Most recent inspection report
- DEA registration (if applicable)
- Disciplinary history (if applicable)
How Do I Renew My License?
Wholesaler licenses expire annually on September 30th. To renew, complete the form on Licensure Gateway, provide proof of an up-to-date surety bond, and pay the $150 fee.
You can also submit ownership, address and name changes via the online portal.
