Benzl Alcohol is the anti-microbial ingredient in Bacteriostatic Water. It is a stable molecule with shelf life of 2-3 years as a high-spec lab reagent; that's
unopened at room temperatures, not in direct sunlight etc.
It is reasonable to assume, I think, that with good sterile technique and our typical use case of "single patient/multiple uses" (which means zero likelihood of cross-patient infection) three to six months is a reasonable and conservative period of effective use of Bacteriostatic Water for Injection, USP UNREFRIGERATED.
Because it is convenient, and out of an abundance of caution, I REFRIGERATE MINE along with all my other injection gear and reconned peptides in a 3D printed case.
I toss the Bac Water every 3-4 months but not because I think it's toxic.
I do it because Bac Water is CHEAP
and I feel rich and powerful when I waste it LOL /s
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OBLIGATORY STATEMENT: I'm not a medical professional. This is not a recommendation. It is just a statement of what I have read, observed and chosen to do for myself and my wife.