Formosa Pharmaceuticals (TPE:6838) said its authorized partner, Arrotex Pharmaceuticals, has applied to the Therapeutic Goods Administration (TGA) of Australia for the drug inspection registration and review of the drug APP13007, according to a Friday filing to the Taiwan stock exchange.

The company's shares were down nearly 1% in Monday's trade.

The drug is intended for the treatment of inflammation and pain after eye surgery.

Arrotex Pharmaceuticals will bear all the costs associated with the application for drug inspection and registration.