Loteprednol etabonate is a synthetic glucocorticoid corticosteroid and a corticosteroid ester. Loteprednol etabonate is a synthetic glucocorticoid corticosteroid and a corticosteroid ester. It was patented in 1980 and approved for medical use in 1998. Loteprednol etabonate is considered a soft drug, one that is rapidly metabolized to an inactive form.