CINCINNATI, July 06, 2023 (GLOBE NEWSWIRE) — Blue Water Biotech, Inc. (“Blue Water” or the “Company”) BWV, a biotechnology and pharmaceutical company focused on developing and commercializing transformational therapies to address significant health challenges globally, today announced that the Ohio State Board of Pharmacy has granted Blue Water a license to operate as a pharmaceutical wholesaler in the State of Ohio.
Headquartered in Cincinnati, OH, Blue Water recently acquired multiple FDA-approved pharmaceutical assets across various indications, including urology, cardiology, inner ear infections, and pain management to establish itself as a commercial stage pharmaceutical company. This license allows Blue Water to conduct business in the State of Ohio and is the first granted to the Company since its establishment as a commercial state company.
“Securing this license in our home state is a very important first step for patients and providers to access Blue Water products nationwide,” said Joseph Hernandez, Chairman and Chief Executive Officer of Blue Water. “We are keenly focused on building out our sales team and aligning ourselves with the right commercial partners as we prepare for launch, and these licenses are critical for us to deliver on our proposed strategies. We look forward to securing additional state licenses and expanding further to maximize availability and access to our products.”
In April 2023, Blue Water acquired ENTADFI®, an FDA-approved treatment for benign prostatic hyperplasia (“BPH”) that counteracts negative sexual side effects seen in men on alternative BPH therapies. Following this acquisition, Blue Water recently announced an Asset Purchase Agreement with WraSer, LLC and Xspire Pharma, LLC for the purchase of six FDA-approved assets across various treatment areas.
In recent months, Blue Water has signed key agreements to work towards commercialization of its products, including an agreement with IQVIA to establish a medical sales…