D&C Red No. 27 Aluminum Lake is a drug and cosmetic synthetic dye. The FDA lists it as a safe additive for drugs and cosmetics as per FDA standards. In cosmetics, it can be used externally and in general cosmetics, including lipsticks and in cosmetics close to the eye.

Providing storage is as stated on the product vial and the vial is kept tightly sealed, the product can be stored for up to 24 months.
Wherever possible, you should prepare and use solutions on the same day. However, if you need to make up stock solutions in advance, we recommend that you store the solution as aliquots in tightly sealed vials at -20°C. Generally, these will be useable for up to one month. Before use, and prior to opening the vial we recommend that you allow your product to equilibrate to room temperature for at least 1 hour.