US FDA approves Eyenovia's eye drug, Formosa Pharma says (updated)

Formosa Pharmaceuticals

04/03/2024 23:21

(Adds CEO comment in paragraph 5)
       March 4 (Reuters) - The U.S. Food and Drug
Administration approved Eyenovia's  EYEN.O  eye drops to reduce
inflammation and pain in patients who have undergone eye
surgery, Formosa Pharmaceuticals  6838.TWO  said on Monday.
    Eyenovia acquired U.S. commercial rights of the drug in
August last year from Formosa Pharmaceuticals.
    The treatment, contains a potent topical steroid, clobetasol
propionate, typically used to treat skin conditions such as
eczema and psoriasis.
    The steroid has so far not been used to treat eye diseases.
    Eyenovia is working to launch the product mid-year and has
the potential to capture a significant share of an estimated
$1.3 billion annual market opportunity, Eyenovia CEO Michael
Rowe said.
    The company did not immediately respond to a request for
comment on pricing of the eye drops.

 (Reporting by Sriparna Roy, Sneha S K and Mariam Sunny  in
Bengaluru; Editing by Shilpi Majumdar and Shounak Dasgupta)
 ((Sriparna.Roy@thomsonreuters.com))