The development of the capillary fringe during gravity drainage has a significant influence on saturation and pressure distributions in porous formations (Sarkarfarshi et al. in Int J Greenh Gas Control 23:61-71, 2014). This paper introduces an analytical solution for gravity drainage in an axisymmetric geometry with significant capillary pressure. The drainage process results from the injection of a lighter and less viscous injectant into a porous medium saturated with a heavier and more viscous pore fluid. If the viscous force dominates the capillary and the buoyancy forces, then the flow regime is approximated by differential equations and the admissible solution comprises a front shock wave and a trailing simple wave. In contrast to existing analytical solutions for capillary gravity drainage problems (e.g., Nordbotten and Dahle in 47(2) 2011; Golding et al. in J Fluid Mech 678:248-270 2011), this solution targets the saturation distribution during injection at an earlier point in time. Another contribution of this analytical solution is the incorporation of a completely drained flow regime close to the injection well. The analytical solution demonstrates the strong dependency of the saturation distribution upon relative permeability functions, gas entry capillary pressure, and residual saturation. The analytical results are compared to results from a commercial reservoir engineering software package (CMG STARS (TM)).