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Blue Water Biotech Teams with Advantage Point Solutions to Provide Healthcare Payer Coverage Support
Pharmaceutical consulting firm to provide Blue Water with access to healthcare payers and PBMs CINCINNATI, July 11, 2023 (GLOBE NEWSWIRE) -- Blue Water
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[{"type":"text","content":"Pharmaceutical consulting firm to provide Blue Water with access to healthcare payers and PBMs\nCINCINNATI, July 11, 2023 (GLOBE NEWSWIRE) -- Blue Water Biotech, Inc. (“Blue Water” or the “Company”) (Nasdaq: BWV), a biotechnology and pharmaceutical company focused on developing and commercializing transformational therapies to address significant health challenges globally, today announced the signing of an agreement with Advantage Point Solutions, LLC (“APS”) to support Blue Water’s market access strategy for its commercial pharmaceutical portfolio. Since the purchase of the approved product ENTADFI® in April and additional approved therapies purchased in June, Blue Water has made significant progress in the advancement of its commercial strategy through the establishment of key relationships and agreements. Blue Water’s agreement with APS follows its recently announced agreements with IQVIA for the development of its medical sales representative team to market products to physicians and bfw Advertising (“bfw”) for marketing and advertising services. Most recently, Blue Water was granted a license to operate as a pharmaceutical wholesaler in its home state of Ohio and will look to expand its licenses nationwide in the future. With these agreements in place, Blue Water believes it is assembling the key pieces to commercially launch and drive revenue from its approved product portfolio. APS will support market access for ENTADFI®, including assistance in formulary negotiations with key healthcare payers and pharmacy benefit managers (“PBM”) in the commercial and government sectors. With its robust network of relationships, APS helps commercial stage pharmaceutical companies build long-term relationships with payers with the goal of maximizing access and reimbursement for approved pharmaceutical products. APS also has decades of experience advising companies on product launches across a broad spectrum of therapeutic areas. “Establishing proper payer and PBM coverage is critical to the success of any product launch, as well as continued coverage throughout the product life cycle to make sure patients can access affordable therapy,” said Joseph Hernandez, Chairman and Chief Executive Officer of Blue Water. “As we progress towards the launch of ENTADFI®, we will look to secure placement on key formularies to enable the execution of o...