药水 (yào shuǐ) means “liquid medicine”

More examples

上学时，妈妈在书包里放了一小瓶药水。shàng xué shí mā mā zài shū bāo lǐ fàng le yì xiǎo píng yào shuǐ

When she was going to school, Mom put a small bottle of liquid medicine in her schoolbag.

Medicine in liquid form that can work inside the body, on the skin, or against germs on a surface.

药yào: A product or substance used to treat an illness or ease its symptoms.

含有药物成分的液体制剂，可用于口服、外用或消毒。hán yǒu yào wù chéng fèn de yè tǐ zhì jì kě yòng yú kǒu fú wài yòng huò xiāo dú

药水 (yàoshuǐ, "liquid medicine") combines 药 (yào, "medicine") with 水 (shuǐ, "water"), naming medicine in a liquid form.

English medicine can include pills or tablets, but this word points specifically to a liquid product such as cough syrup or antiseptic.