What must be done with the pharmacy's license after a change in ownership?

After a change in ownership of a pharmacy, the pharmacy's license must be renewed under the new owner's name. This process is essential because pharmacy licenses are issued to specific individuals or entities, and a change in ownership indicates that the license is no longer associated with the original owner.

Renewing the license under the new owner's name ensures that the new owner is accountable for compliance with all relevant laws and regulations related to pharmacy practice. It also allows the new owner to operate legally within the state. Failure to renew the license could result in a lapse in legal operation, potential penalties, and issues with obtaining necessary permits or approvals for the pharmacy's operations.

The other options do not align with the proper procedure for ownership changes in pharmacy licensing. For instance, transferring the license outright without a renewal process may not comply with state regulations, and allowing the license to remain unchanged for a year does not address the necessity for legal ownership reflection in licensing. Lastly, canceling the license immediately would render the pharmacy inoperable, which is not suitable for ongoing business operations. Therefore, renewing the pharmacy license under the new owner's name is the correct and necessary step to ensure compliance and continuity of pharmacy operations.