The US has approved a new type of eye drop which they say could eliminate the need for reading glasses.

The FDA (Food and Drug Administration) recently approved the use of an eye drop designed to improve age-related near-vision, reports Express.co.uk.

Called Vuity, the drop is applied to each eye once a day and starts working within 15 minutes of application. The makers say each drop lasts for at least six hours.

As per the report, the drug is a formulation of a well-known compound known as pilocarpine.

The researchers behind Vuity designed it to allow for the eye drop to rapidly adjust to the pH of the tear film.

What the drop does is take advantage of the eye's ability to reduce pupil size, and improve near-vision whilst maintaining distance vision.

The drop is most effective for those between the ages of 40 and 55.

Results have come from two randomized control trials on 750 subjects, the report said.

It was during these studies that Vuity was observed to start working within 15 minutes of application.

In a positive piece of news, the drops were found to result in no serious side effects. However, some patients experienced mild headaches and eye redness. (AA/IANS)