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Akorn gets US FDA approval for drug to treat hair condition in eyelashes

Akorn Inc. said the U.S. Food and Drug Administration approved its abbreviated new drug application for bimatoprost ophthalmic solution to treat a hair condition relating to eyelashes.

The FDA approved the company's bimatoprost ophthalmic solution to treat hypotrichosis — a condition of abnormal hair patterns, predominantly loss or reduction — of the eyelashes by increasing their growth including length, thickness and darkness.

The Lake Forest, Ill.-based generic-drug maker's stock price rose 6.19% to $6.86 in premarket trading on Oct. 10, but after markets opened, it fell 2.01% to $6.34 as of 10:26 a.m. ET.

According to IQVIA, sales of the solution totaled about $63.5 million for the year ended August 2018.