(1) A registered prescription drug outlet may compound and distribute a drug to a licensed veterinarian so that the veterinarian may maintain the drug as part of the veterinarian's office stock. (2) (a) A veterinarian may dispense a compounded drug maintained as part of the veterinarian's office stock pursuant to subsection (1) of this section only if: (I) The compounded drug is necessary for the treatment of an animal patient's emergency condition; and (II) As determined by the veterinarian, the veterinarian cannot access, in a timely manner, the compounded drug through a registered prescription drug outlet. (b) A veterinarian shall not dispense a compounded drug pursuant to this section in an amount greater than the amount required to treat an animal patient's emergency condition for five days. (3) A licensed veterinarian shall not administer or dispense a compounded drug maintained for office stock pursuant to this section or for office use pursuant to section 12-280- 120 (6)(b) without a valid veterinarian-client-patient relationship in place at the time of administering the compounded drug to an animal patient or dispensing the compounded drug to a client. (4) To compound and distribute a controlled substance pursuant to this section or section 12-280-120 (6)(b), a registered prescription drug outlet shall possess a valid manufacturing registration from the federal drug enforcement administration. (5) As used in this section, unless the context otherwise requires: (a) "Client" has the same meaning as set forth in section 12-315-104 (4). (b) "Office stock" means the storage of a compounded drug: (I) That was distributed or sold by a registered prescription drug outlet to a veterinarian; (II) Without a specific animal patient indicated to receive the compounded drug; and (III) That the veterinarian may subsequently administer to an animal patient or dispense to a client. (c) (I) "Prescription drug outlet" means any: (A) Resident or nonresident pharmacy outlet registered or licensed pursuant to this article 280 where prescriptions are compounded and dispensed; or (B) Federally owned and operated pharmacy registered with the federal drug enforcement administration. (II) Notwithstanding subsection (5)(c)(I) of this section, "prescription drug outlet" does not include a nonresident pharmacy outlet unless the nonresident pharmacy outlet has provided the board with a copy of the most recent inspection of the nonresident pharmacy by the agency that regulates pharmaceuticals in the state of residence and a copy of the most recent inspection received from a board-approved third-party entity that inspects pharmacy outlets, for which third-party inspection the nonresident pharmacy outlet shall obtain and pay for on an annual basis, and the board approves the inspection reports as satisfactorily demonstrating proof of compliance with the board's own inspection procedure and standards. (6) The board may promulgate rules as necessary concerning compounded veterinary pharmaceuticals pursuant to this section and section 12-280-120 (6)(b).
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