August 23, 2018 / 7:33 PM / a month ago

FDA approves Kala Pharma's eye pain drug

(Reuters) - The U.S. Food and Drug Administration on Thursday approved Kala Pharmaceuticals Inc’s treatment for reducing inflammation and pain following an eye surgery.

FILE PHOTO: A view shows the U.S. Food and Drug Administration (FDA) headquarters in Silver Spring, Maryland August 14, 2012. REUTERS/Jason Reed/File Photo

The company said it expects to launch the drug, Inveltys, in the beginning of 2019, with Wedbush Securities estimating peak sales of about $271 million in 2027.

Inveltys is a corticosteroid administered twice a day, compared with current treatments that require to be applied four times a day.

The drug was found to have no serious side effects during clinical trials, Kala said.

Kala is also developing another drug targeting dry eye disease, and expects to submit a marketing application with the FDA during the second half of the year.

The company’s shares, which gained nearly 4 percent from Wednesday’s close to the approval news, fell 7 percent to $12.57 in afternoon trading.

Reporting by Saumya Sibi Joseph in Bengaluru; Editing by Sriraj Kalluvila

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