DIVISION OF DRUGS, DEVICES AND COSMETICS
My company is undergoing a change of ownership. Do we need to (re)apply?
Possibly. Permits issued under Chapter 499, Florida Statutes are specific to the original holder, and may not be bought, sold, traded, leased or otherwise transferred. Further, 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 or when a lessee agrees to undertake or provide services to the extent that legal liability for operation of the establishment will rest with the lessee.
The application for the new permit must be made before the date of the sale, transfer, assignment, or lease.
Common types of ownership changes:
Transaction Description |
New Permit (Generally) Required? |
Change of ownership of the establishment (often in the form of an asset sale). |
Yes |
Change of ownership of the permittee (often in the form of a stock sale) |
Yes |
Merger or acquisition where permittee DOES NOT survive the transaction |
Yes |
Merger or acquisition where permittee survives the transaction, and controlling interest in the permittee has not changed |
Usually No |
Change of ownership of the permittee’s parent entity |
Usually No |
Change of ownership of the permittee’s “grandparent” entity |
Almost Never |