Caraco Pharmaceutical Laboratories commences shipping azelastine ophthalmic solution

Caraco Pharmaceutical Laboratories, Ltd. (NYSE Amex: CPD) has started shipping azelastine ophthalmic solution, 0.05%. This product was recently approved by the US Food and Drug Administration (FDA) for Sun Pharma's Abbreviated New Drug Application (ANDA). This sterile azelastine hydrochloride ophthalmic solution is therapeutically equivalent to Optivar Ophthalmic Solution, 0.05%® from Medpoint Pharmaceuticals, which has annual sales of approximately $50 million in the US. Azelastine ophthalmic solution is indicated for treatment of the itching of the eyes associated with allergic conjunctivitis.