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Losec (Prilosec) Omeprazole capsules What do omeprazole capsules do?OMEPRAZOLE (Prilosec(R)) prevents the production of acid in the stomach. It reduces symptoms and prevents injury to the esophagus, stomach, or intestines in patients with gastroesophageal reflux disease (GERD) or ulcers. Omeprazole is also useful in conditions that cause excessive stomach acid production such as Zollinger-Ellison syndrome and certain cancers.