Amneal Pharma Stock Rises On FDA Approval For Generic Version Of AbbVie’s Eyedrops

Amneal’s bimatoprost ophthalmic solution 0.01% is indicated for the reduction of high eye pressure in patients with certain eye conditions.

Amneal Pharmaceuticals (AMRX) said on Tuesday that its generic equivalent of AbbVie's (ABBV) eyedrops received approval from the U.S. Food and Drug Administration.

The company’s Bimatoprost ophthalmic solution 0.01% is indicated for reducing high eye pressure in patients with open-angle glaucoma or ocular hypertension. It is a generic equivalent of LUMIGAN 0.01%, whose design is a trademark of AbbVie’s Allergan.

Shares of the company rose 5% in the pre-market session at the time of writing. 

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