Allergan Gets FDA OK for Eye Medication

Irvine eye- and skin-care company Allergan Inc. said Monday that it has received U.S. Food and Drug Administration approval for its Alphagan P medicine for lowering intraocular pressure in patients with open-angle glaucoma and ocular hypertension.

Allergan said in a press release that two 12-month clinical studies showed that Alphagan P is comparable in efficacy to Alphagan with lower rates of certain adverse events. The company said it expects Alphagan P to be available within the next six months.

Allergan stock lost 50 cents, closing at $67.50 on the New York Stock Exchange.