The pharmaceutical sector is one of the largest industries at global level and the countries supporting it are important economies, such as Canada. There are several large pharmaceutical companies registered in Canada which have established branches in other countries from which they distribute their products in Asia and Europe, two of the most important markets in the world.
Foreign investors who want to open a business in the pharma sector in Canada can set up companies for the production of pharmaceutical products, business for the creation of medical devices and drug stores in accordance with the local legislation. Our Canadian company formation agents can help you set up pharmaceutical company.
Legislation for pharma companies in Canada
As mentioned above there are thee main categories of business which can operate in the pharmaceutical industry in Canada. The first and most important one is the pharmaceutical production company which must comply with the Food and Drugs Law. The same law applies to companies producing medical devices.
Those who want to start a pharmacy or any other type of drug store in Canada must comply with the Drug Good Manufacturing Practices and Establishment Licensing Enforcement Directive. Also, pharmacists must pass the exam organized by the Pharmacy Examining Board of Canada (PEBC).
Our company registration advisors in Canada can offer more information on these laws.
Licensing for pharmaceutical companies in Canada
Those who want to open a pharmaceutical company in Canada must first register one of the available business forms with the Trade Registrar, following which they must obtain the necessary licenses and approval to start operating.
In order to manufacture pharmaceutical products in Canada one must:
- respect the Good Manufacturing Practices Inspection List;
- undergo the drug and health products inspections organized by the Therapeutic Products Directorate;
- enter the products into the Drug Product Database.
In the case of Canadian pharmacies and drug stores, a drug establishment license is required.
In the case of companies producing medical devices a medical device establishment license will be necessary.
There is also the possibility of pharmaceutical companies to import certain products and sell them on the Canadian market.
For full information or assistance in registering a pharmaceutical company in Canada, please contact our local representatives.