The 8000 drug stores in place are both pharmaceutical assistance and medicine suppliers and businesses at the same time.
Most cities have more pharmacies than allowed per capita. The only possibility to open a pharmacy is to go in the countryside where there are no demographical restrictions.
Ianson’s consulting services include:
-Pharmacy assessment, corporate financial analysis, current stock and goodwill survey.
-Implementation of the selling/buying strategy and clarification of all transaction procedures and paperwork.
-Negotiation of the sales agreement between the Seller and the Buyer and contracting professional lawyers in order to ensure transaction accuracy.
-Monitoring the accurate inventorying of the merchandise stock.
-Guaranteeing the coming in/out of the amounts negotiated by contract through use of insurance financial instruments.
Ianson assists you in trading the pharmacy licence by:
1. Purchase of the trade licence from another company through transfer of the goodwill;
2. By assignment of shares/stock and by purchase of the trade licence owner.
1. PURCHASE OF DRUG STORE TRADE LICENCE
The trade licence is transferred to the new owner under a stock-in-hand sales agreement which covers:
-Assets composing the stock-in-hand: the trade licence released by the Ministry of Health, the customers, the goodwill, the product stock (if any);
-Price, payment terms;
-Data concerning the retail location;
-Possible take-over of personnel.
To make it enforceable against third parties and to record he licence transfer with the Ministry of Health, both the seller and the buyer must register the transaction with the Commercial Register Office.
The seller must also register the cancellation of the business unit or the suspension of activity at the registered office. The buyer handles the purchase of the stock-in-hand and the opening of the business unit with the Commercial Register Office. The parties shall notify the Ministry of Health and take all measures required to liquidate and transfer the trade licence (pharmacy licence).
If the Buyer has no location available when buying the trade licence, he/she may ask the Ministry of Health to suspend the trade licence for maximum 180 days, upon the expiry of which the trade licence stops being valid.
The pharmacy licence bought may only be used locally in the same town and in the same location or in another properly-arranged location.
The trade licence may be issued on the name of the same registered pharmacist or not. If not, the change of name must be registered with the Ministry of Health. On the sale of the stock-in-hand, the licence selling company maintains its legal status and the remainder of existing tangible assets and claims or debts to third parties and may carry out another type of business.
The revenue obtained from the sale of the licence is considered to be VAT-bearing and deductible from the income/profit taxation basis.
2. SHARE ASSIGNMENT (COMPANY PURCHASE)
The transfer of ownership over the trade licence takes place by whole company take-over through assignment of shares.
Assigning partners transfer these shares to the Buyer at the price established in the share assignment contract and the Buyer takes on their rights and obligations.
The share assignment contract must be filed with the Commercial Register to make it enforceable against third parties and all other formalities needed to enter the mention on share assignment in the register of companies.
The Buyer is thereafter compelled to advise the Ministry of Health on the change in shareholding.
The Buyer (Assignee) takes over all corporate assets (fixed assets, inventory items, stocks, personnel, etc) and existing claims and debts. The Buyer may carry out the pharmacy business on behalf of the acquired company or transfer the stock-in-hand to another company and dissolve the acquired company on request.
The amount collected is considered to be revenue for the individuals who assigned the shares and who owe income tax upon it according to the prevailing laws.