Drug firm Wockhardt has received tentative approval from US Food and Drug Administration (USFDA) for marketing 0.1% solution of Olopatadine hydrochloride eye drops, which is used for allergic conjunctivitis. Olopatadine is the generic name for the brand Patanol, marketed in the US by Alcon laboratories Inc, now a subsidiary of Novartis AG.
The patent covering this product is under litigation in the US courts and Wockhardt will launch the product after resolution of the same.
Wockhardt is a global, pharmaceutical and biotechnology company that has grown by leveraging two powerful trends impacting the world of medicine - globalization and biotechnology. The company has a market capitalization of over $1 billion and an annual turnover of $650 million.
