Dexaneo-AC Ear Drop is a combination of two medicines: Neomycin and Dexamethasone. Neomycin is an antibiotic. It stops bacterial growth by preventing the synthesis of essential proteins required by bacteria to carry out vital functions. Dexamethasone is a steroid medicine. It blocks the production of certain chemical messengers (prostaglandins) that cause redness, swelling and itching.