List of products in the National Drug Code with proprietary name . Prednisolone is used to treat conditions such as arthritis, blood disorders, severe allergic reactions, certain cancers, eye conditions, skin/kidney/intestinal/lung diseases, and immune system disorders. It decreases your immune system's response to various diseases to reduce symptoms such as swelling, pain and allergic-type reactions. This medication is a corticosteroid hormone. Prednisolone may also be used with other medications in hormone disorders.