Harrow, Inc. Announces Acquisition of TYRVAYA Rights

What Happened
Harrow, Inc. announced on August 3, 2026 that it entered into an Asset Purchase Agreement with Viatris to acquire the global rights to TYRVAYA® (varenicline solution) nasal spray 0.03 mg, a treatment for signs and symptoms of dry eye disease. Harrow expects to close the transaction in the second half of 2026 and issued a press release on August 6, 2026 under Regulation FD.

Key Details

• Agreement dated August 3, 2026 to acquire global rights to TYRVAYA (NDA, regulatory approvals, IP, developed technology, inventory, certain contracts).
• Purchase consideration: $30,000,000 cash at closing plus up to $70,000,000 in contingent milestone payments tied to specified annual net sales thresholds.
• Harrow expects to fund the $30M closing payment with cash on hand; purchase price subject to customary post-closing net working capital adjustment.
• The Purchase Agreement includes customary representations, warranties, covenants (including a Viatris non-compete), indemnification, termination rights, and Harrow and Viatris will enter ancillary agreements such as a transition services agreement.

Why It Matters
This is a strategic asset acquisition that adds an FDA‑approved ophthalmology product to Harrow’s portfolio and could create a new revenue stream if TYRVAYA achieves the sales milestones. The $30M upfront cash payment and up to $70M of contingent payments are material financing and future-liability considerations for investors; Harrow states it will use cash on hand for the closing. The deal is not final until closing conditions are satisfied, so timing and completion are uncertain.