Illinois Updates Requirements for Changes of Ownership, Name, Location or Operations of a Pharmacy

Illinois has revised requirements for licensed pharmacies (resident and non-resident) per 68 Ill. Admin. Code § 1330.780 effective June 2, 2023. 

Most important, is the change from notifications to expansion of application submissions for pharmacy changes. Section 1330.780(a) now requires that applications must be filed whenever the following changes occur: 

1.  50% or more of the ownership of the business, other than publicly traded businesses, to which the pharmacy license was issued is sold or otherwise transferred to a person or entity that does not hold any interest in the business issued the pharmacy license prior to the sale or transfer; 

a.  Another key point is that the percentage of change that requires a new application has increased from 10% to 50%. 

2.  More than half the board of directors or executive officers of a business issued a pharmacy license change; 

3.  Any change in legal status of an entity (e.g., individual, partnership, corporation, limited liability company); 

4.  Any change in location of a pharmacy including remodeling of pharmacy or drug storage areas; 

5.  Any change in the name of the pharmacy; or

6.  Any change in pharmacy operations pursuant to Subpart E of the act. 

Any change of ownership of a parent company that owns a pharmacy shall not be considered a change of ownership of the pharmacy. 

Secondly, the timeframe to file the newly required applications has changed from 60 days prior for Resident Pharmacies and no change to timeline for Non-Resident pharmacies to: 

1. At least 90 days prior to occurrence for Resident State Pharmacies. 

1. No later than 30 days after occurrence for Non-Resident State Pharmacies. 

Finally, the division must be notified no later than 30 days after any other change in the information provided in an application that is not specified in the above section 1330.780(a) including changes in owners, partners, members, officers, directors or shareholders owning 5% or more of the outstanding shares. 

LighthouseAI Business Changes to Help With Your Change Projects 

LighthouseAI has announced Business Changes, a new enhancement to the compliance automation solution that now makes business change projects easier than ever. If these new Illinois change notification requirements affect you, LighthouseAI could assist you by immediately identifying the needed requirements, with the added bonus of professional guidance on how to complete them. 

This new feature cuts research time by as much as 99% for projects such as change of ownership, change of location, and all other change projects. LighthouseAI Business Changes reduces the turnaround time of your change projects from weeks to moments. 

Learn more and watch the video: https://lighthouseai.com/business-changes/?utm_source=LinkedIn&utm_medium=social&utm_campaign=business_changes 

Schedule a Discovery Call for Guidance

Learn more about this new reporting requirement and receive guidance from our compliance experts, schedule a Discovery Call.