The present ophthalmic formulation play vital role to control & lower intra ocular pressure (IOP) in Antiglaucoma therapy which relates to controlled release, prolong residing ophthalmic formulation comprising liposomal formulation, selective alpha 2 adrenergic receptor in triblock copolymer having thermosensitivity small particle size, hydrogel properties. The present invention is directed to a pharmaceutical formulation comprising controlled release Opthalmic formulation to control IOP in Antiglaucoma therapy in thermosensitive polymer or triblock copolymer with better bioavailability of carbonic anhydrase inhibitor too. The said formulation comprising at least one lipid bilayer, Basic active & the random block copolymer having lipophilic component & lipophobic component. While instillation it is easy as is a liquid formulation and shows prolong action by getting absorbs through a gel showing better absorption and better bioavailability for water soluble and water insoluble drug.