Prednisone is used to treat allergic disorders, ulcerative colitis, psoriasis and arthritis. Learn about side effects, interactions and indications. Learn about the side effects of prednisone, from common to rare, for consumers and healthcare professionals. Find patient medical information for Prednisone (Deltasone, Sterapred, and others) on WebMD including its uses, side effects and safety, interactions, pictures, warnings, and user ratings Corticosteroid medicines include cortisone, hydrocortisone and prednisone, among others. They help treat rashes, inflammatory bowel disease, asthma and several other conditions. But corticosteroids also may have serious side effects. Corticosteroids help lessen swelling and irritation, called. Prednisone is a corticosteroid (cortisone-like medicine or steroid). It works on the immune system to help relieve swelling, redness, itching, and allergic reactions. This medicine is available only with your doctor's prescription. Prednisone is a steroid medication that treats a wide range of health conditions. Find out more about its uses and side effects. Prednisone is used alone or with other medications to treat the symptoms of low corticosteroid levels (lack of certain substances that are usually produced by the body and are needed for normal body functioning). Prednisone is also used to treat other conditions in patients with normal corticosteroid levels. These conditions include certain types of arthritis; severe allergic reactions. Prednisone is a glucocorticoid medication mostly used to suppress the immune system and decrease inflammation in conditions such as asthma, COPD, and rheumatologic diseases. [3] It is also used to treat high blood calcium due to cancer and adrenal insufficiency along with other corticosteroids. [3] It is taken by mouth. [3] Common side effects may include cataracts, bone loss, easy bruising.