- The FDA approves Akorn's (NASDAQ:AKRX) Phenylephrine Hydrochloride Ophthalmic Solution, USP, 2.5% and 10%. The product used to dilate the pupils before an ocular exam. Its value proposition is greater convenience against its one competitor due to not requiring refrigeration.
- According to IMS Health, the U.S. market for the products is ~$32M per year, but the company believes it is much larger since most phenylephrine solutions are shipped directly to ophthalmologist and optometrist offices.