Blue Water Gets Regulatory Nod From Ohio State To Operate As Pharmaceutical Wholesaler

Blue Water Biotech, Inc. BWV received a regulatory nod from the Ohio State Board of Pharmacy to operate as a pharmaceutical wholesaler in the State. 

The company has recently acquired multiple FDA-approved pharmaceutical assets for urology, cardiology, inner ear infections, and pain management to establish itself as a "commercial stage" pharmaceutical company. 

With the license, Blue Water is the first to operate as a commercial state company since its establishment in Ohio.

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"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. 

The company recently announced an asset purchase agreement with WraSer, LLC and Xspire Pharma, LLC, to purchase six FDA-approved assets across various treatment areas.

"We look forward to securing additional state licenses and expanding further to maximize availability and access to our products."

Price Action: BWV shares are trading higher by 4.50% to $1.16 in the premarket session on the last check Friday.