Harrow completes TYRVAYA acquisition from Viatris, excluding Japan rights

Harrow, Inc. (Nasdaq: HROW) announced on October 5, 2026 that it had finished acquiring TYRVAYA, a varenicline solution nasal spray dosed at 0.03 mg, from Viatris Inc.¹ The deal closed on October 1, 2026, according to the accompanying Form 8-K.

Under the arrangement, Harrow took on worldwide rights to TYRVAYA excluding Japan, where Viatris kept commercialization rights and agreed to pay Harrow royalties on any future net sales there.¹ The original agreement, signed August 3, 2026, was amended and restated on October 1, 2026. As the 8-K explains, Viatris's retention of Japanese rights led the parties to drop a planned post-closing adjustment based on working capital, fixing the cash payment at closing at $30.0 million.¹ The contingent milestone terms and other main provisions from the original deal were left largely unchanged.¹

Financially, Harrow paid Viatris $30.0 million in cash at closing, funded from existing cash, and may owe up to another $70.0 million if TYRVAYA hits certain net sales targets measured over twelve-month periods through December 31, 2029.¹

TYRVAYA is described as a cholinergic agonist used to treat the signs and symptoms of dry eye disease, and the only FDA-approved nasal spray for that indication.¹ It is currently approved in the U.S., China, and Taiwan, with additional marketing applications pending elsewhere.¹

Harrow said it expects roughly 40 employees from Viatris who are familiar with TYRVAYA and the dry eye market to join its commercial team, with onboarding planned during the fourth quarter of 2026.¹ The company also said it anticipates TYRVAYA contributing more than $30 million in revenue in 2027.¹ Separately, Harrow and Viatris signed ancillary agreements, including a side letter under which Viatris will pay tiered royalties on Japanese net sales, with both companies planning to negotiate a further collaboration covering TYRVAYA's development and commercialization in Japan.¹