Omnacortil (prednisolone) is used for treating allergies, arthritis, breathing problems (e.g., asthma), certain blood disorders, collagen diseases (e.g., lupus), certain eye diseases (e.g., keratitis), cancer (e.g., leukemia), endocrine problems (e.g., adrenocortical insufficiency), intestinal problems (e.g., ulcerative colitis), swelling due to certain conditions, or skin conditions (e.g., psoriasis).