The new legislation by Government of Oman via Royal Decree 35 of 2015 repeals Royal Decree 41 of 1996, and affect the pharmacies in Oman that are owned by foreign investors. The new law aims to launch fresh licensing and profession regulating regime.
The mandate of the new law is:
- Every licensed Omani company must include an Omani pharmacist as shareholder;
- Applications for new pharmacies must comply with this rule on imminent basis;
- the existing pharmacies shall have short window to comply with the new law,
- Only a licensed pharmacist should dispense medicine, licenses are granted for a period of maximum two years and are renewable;
- The owners of a branded pharmacy are not permitted to hold ownership interests in other brands of pharmacy chains;
- Reduction in period of license granted for operating the pharmacy has been reduced to two years from previous period of five years;
- Collusive agreements between physician and pharmacists with regards to dividing funds earned through prescription of specific medicines are prohibited;
- Limitation on the number of pharmacies that an individual may setup and branches any brand pharmacy can open and hold ownership rights;
This new regulation shall make it compulsory for the equity that is held by any non- GCC (Gulf Cooperation Council) national to be reduced and also inclusion of the Omani pharmacist as mandatorily in the shareholding structure. Besides, may improve the consumer choice with regards to different brands pharmacy that are opened and maintain price competition amongst such pharmacies.
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