The generic pharma company announced FDA approval for its abbreviated new drug application for bimatoprost ophthalmic solution 0.03 percent.
The product candidate is used to treat hypotrichosis, or inadequate eyelashes, by increasing their growth, including length, thickness and darkness.
Why It's Important
Bimatoprost ophthalmic solution was originally approved by the FDA under the brand name Latisse in December 2008, with the sponsor company being Allergan plc (NYSE: AGN).
The drug generated sales of about $63.5 million in the 12 months ending in August, Akorn said, citing IQVIA data.
Akorn shares were up 0.62 percent at $6.50 at the time of publication Wednesday.
Attention Biotech Investors: Mark Your Calendar For These October PDUFA Dates
The Week Ahead In Biotech: Conferences, Clinical Trial Results And IPOs
See more from Benzinga
- The Daily Biotech Pulse: Novartis Blood Disorder Drug Improves Patient Outcomes, Audentes To Offer Shares
- DA Davidson Out Bullish On Yext, Trade Desk
- Trevena Shares Plunge As FDA Briefing Document Reveals Pain Drug Concerns
© 2018 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.