Harrow, Inc. has officially completed its acquisition of TYRVAYA, a nasal spray designed for treating dry eye disease, from Viatris Inc. This move significantly expands Harrow's product offerings in the pharmaceutical preparations sector, particularly in the growing market for dry eye treatments.
The acquisition was finalized on October 1, 2026, following an amendment to the original purchase agreement between Harrow and Viatris. Under the terms of the agreement, Harrow acquired rights to TYRVAYA in all countries except Japan, where Viatris retains commercialization rights. Harrow's total cash consideration for the acquisition includes an upfront payment of $30 million, with additional contingent milestone payments of up to $70 million based on sales performance.
Founded in Nashville, Tennessee, Harrow, Inc. (Nasdaq: HROW) is a prominent player in the ophthalmic disease management market. The company specializes in developing and providing innovative solutions for eye care professionals. The acquisition of TYRVAYA adds to its existing portfolio, which includes VEVYE, another prescription therapy for dry eye disease.
According to the filing, the acquisition is expected to enhance Harrow's competitive position in the dry eye market, which is characterized by a growing demand for effective treatment options. TYRVAYA is notable for being the first and only FDA-approved nasal spray for dry eye disease, offering a differentiated, drop-free treatment alternative.
“Today marks an important step forward for Harrow and for the physicians and patients we serve,” said Mark L. Baum, Chief Executive Officer of Harrow. “Dry eye disease is complex and multifactorial, and there is no single treatment approach that works for every patient. VEVYE and TYRVAYA approach dry eye differently and give eyecare professionals two distinct tools from one organization committed to serving this market.”
The completion of this acquisition not only strengthens Harrow's market presence but also aligns with the broader industry trend of consolidation among pharmaceutical companies. As companies seek to expand their product lines and enhance their market share, such strategic acquisitions are likely to become more common in the pharmaceutical preparations sector.
Looking ahead, Harrow plans to leverage the established physician awareness and existing prescription base of TYRVAYA to drive sales growth. The company has indicated that it will file the full Purchase Agreement as an exhibit to its upcoming Quarterly Report on Form 10-Q for the period ending September 30, 2026.
This acquisition underscores Harrow's commitment to providing innovative solutions for eye care professionals and patients alike, positioning the company for potential growth in the competitive landscape of ophthalmic treatments.