I tend to agree with bettaboy. Raising betta fry is not an easy thing and the best thing to do is get rid of the eggs before they become a bigger problem. Trying to raise the fry will risk the adult bettas as well as bring up a myriad of problems when the surviving fry become larger. The fry are probably mutts (I haven't seen the parents) and will be difficult to rehome.
As for medication, I'm not sure exactly what is being referred to. The only thing I would add is some Bettafix (or diluted Melafix) to help prevent infection and prevent scarring. They'll likely have some cuts and split fins from the breeding but nothing clean water, Melafix and some peace and shouldn't be able to fix. It shouldn't set you back more than $8.
Definitely separate the male and female immediately or both of them will not survive.