Industry Code: 68100
Businesses in this industry must incorporate the sale of prescription drugs and medicines through licensed pharmacies. Sales may be complemented by a host of over the counter (OTC) drugs and medicines as well as a complete line of personal hygiene and cosmetic products.
Operation Details:
Traditional drug stores will also sell giftware, greeting cards and stationary items.
With the increased popularity of large chain operations, drug store inventories have expanded to include convenience food items, small housewares, electronics, photography equipment, stationery goods, cash machines, etc.
Drug store operations may include other personal services such as photofinishing, photocopying, postal outlets, etc.
This industry includes retail sales and services only and does not provide for any delivery, installation or repair services.
Underwriting Considerations:
The large chain operations will remain in this industry as long as the main focus of the business is drug store inventory, such as, prescription drugs and medicines through licensed pharmacies and over the counter drugs, medicines, personal hygiene products and cosmetics.
Businesses which specialize in the sale/rental, service and/or installation of medical equipment and supplies are classified under industry 33901, Medical Equipment, Sale, Service, Install.
Premium Rate History:
Activities:
Drug Stores
Rate Group History:
This industry was consolidated with this rate group in 1994 to bring retail industries that are pure retailers together in one rate group.
Businesses in this industry must incorporate the sale of prescription drugs and medicines through licensed pharmacies. Sales may be complemented by a host of over the counter (OTC) drugs and medicines as well as a complete line of personal hygiene and cosmetic products.
Premium Rate History:
Activities:
Drug Stores
Operation Details:
Traditional drug stores will also sell giftware, greeting cards and stationary items.
With the increased popularity of large chain operations, drug store inventories have expanded to include convenience food items, small housewares, electronics, photography equipment, stationery goods, cash machines, etc.
Drug store operations may include other personal services such as photofinishing, photocopying, postal outlets, etc.
This industry includes retail sales and services only and does not provide for any delivery, installation or repair services.
Underwriting Considerations:
The large chain operations will remain in this industry as long as the main focus of the business is drug store inventory, such as, prescription drugs and medicines through licensed pharmacies and over the counter drugs, medicines, personal hygiene products and cosmetics.
Businesses which specialize in the sale/rental, service and/or installation of medical equipment and supplies are classified under industry 33901, Medical Equipment, Sale, Service, Install.
Rate Group History:
This industry was consolidated with this rate group in 1994 to bring retail industries that are pure retailers together in one rate group.