DIVISION OF DRUGS, DEVICES AND COSMETICS
What should I do if my company is changing owners?
An application for a new permit is required when a majority of the ownership or controlling interest of a permitted establishment is transferred or assigned. Change in ownership means a majority of the ownership or controlling interest changes. A change in ownership occurs when there has been any change in a partnership amounting to more than 50 percent of the ownership or controlling interest. For a publicly traded corporation or a parent company, the changing of officers or directors is not a change in ownership provided that such change does not result in more than a 50 percent change in the ownership or controlling interest of any permitted establishment.