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On December 1, 2016, Parker Hannifin Corporation and CLARCOR Inc. announced that the companies have entered into a definitive agreement under which Parker will acquire CLARCOR for approximately $4.3 billion in cash, including the assumption of net debt. The transaction has been unanimously approved by the board of directors of each company. Upon closing of the transaction, expected to be completed by or during the first quarter of Parker’s fiscal year 2018, CLARCOR will be combined with Parker’s Filtration Group to form a leading and diverse global filtration business. Bass, Berry & Sims has served CLARCOR as primary corporate and securities counsel for 10 years and served as lead counsel on this transaction. Read more here.

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Securities Law Exchange BlogSecurities Law Exchange blog offers insight on the latest legal and regulatory developments affecting publicly traded companies. It focuses on a wide variety of topics including regulation and reporting updates, public company advisory topics, IPO readiness and exchange updates including IPO announcements, M&A trends and deal news.

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Pennsylvania Will Enforce Non-Resident Pharmacy Licensure Requirement Beginning December 7, 2015

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November 23, 2015

The Pennsylvania Board of Pharmacy has indicated its intent to begin enforcement of Pennsylvania's new non-resident pharmacy licensure requirement on December 7, 2015. Non-resident pharmacies with Pennsylvania operations should apply for a non-resident pharmacy license as soon as possible. The application is available through the Board's website and requirements include, among other things:

  • the submission of a $125 fee;

  • a copy of the pharmacy's resident state license;

  • the provision of a letter of good standing or license verification from the resident state Board of Pharmacy directly to the Pennsylvania Board; and

  • a copy of a sample prescription label including the pharmacy's toll-free phone number.

On October 7, 2015, Pennsylvania enacted legislation requiring non-resident pharmacies to register with the Pennsylvania Board of Pharmacy before delivering prescriptions to Pennsylvania patients or advertising in Pennsylvania.

To ensure compliance and prevent any disruption to operations, out-of-state pharmacies currently shipping product to Pennsylvania patients should apply for Pennsylvania licensure as soon as possible. Regulators have advised pharmacies to allow at least two weeks for the processing of applications, meaning pharmacies should attempt to submit their applications by November 23, 2015.

Pennsylvania does not require that the non-resident pharmacy's designated pharmacist-in-charge hold a Pennsylvania pharmacist license.

As noted in our previous alert, the licensure requirement will create new compliance obligations for non-resident pharmacies with operations in Pennsylvania.

If you have questions about Pennsylvania's new non-resident licensure requirement, please contact the authors of this alert or any member of our Specialty Pharmacy team.


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