Yes it is. The roller is permanent, but the ink cartridge is replaceable for around $7.24This is the Amazon page for the ink refill. http://www.amazon.com/Kespon-Guard-Roller-Stamp-Refill/dp/B0085ILMYW/ref=sr_1_10?ie=UTF8&qid=1375722674&sr=8-10&keywords=kespon+refill

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PLUSGuard Your ID Wide Roller Stamp Refill

Q: can you buy ink refills

I did buy one refill and was able to figure out how to change the roller. In order to avoid getting ink all over my hands, I wore latex gloves. I like this product so much, I purchased a few extra rollers.

Q: does it work on prescription bottles?

It depends on the kind of prescription sticker on the container. If the sticker is really shiny and glossy, it will take a little while for the stamp's ink to dry, but it will work. Frankly, I just pull the sticker off, crumple it into its own adhesive and toss it in the trash. We do get a prescription in a cardboard box and it covers the prescription sticker very well. Depends on your manual dexterity to get the roller over the sticker if you don't wish to peel off the sticker. I peel it off to facilitate recycling the bottle.