Aceto Corp. is rolling out two generic eye medicines to serve a U.S. market valued at $80 million per year, the Port Washington company said.

Timolol Maleate Ophthalmic Solution, which will come in 0.25% and 0.5% strengths, is used to treat elevated intraocular pressure in patients with ocular hypertension and open-angle glaucoma.

The medicine is the generic version of Timoptic from Merck & Co. The market for the drug is $60 million, according to IMS Health data, an independent research service.

The other medicine is Ofloxacin Ophthalmic Solution, the generic version of Ocuflox from Allergen Inc. It treats infections and has a $20 million market.

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The generic drugs, from Aceto's Rising Pharmaceuticals division, are part of an ongoing diversification effort aimed at increasing Aceto's presence in the drug industry. It has been best known for chemicals used in agriculture and coatings.

The announcement of the new drugs came after Thursday's stock market close.