Harrow Sells Non-Ophthalmic Compounding Business

Harrow announced the sale of its non‑ophthalmic compounding business to Innovation Compounding Pharmacy, LLC, an affiliate of Revelation Pharma Corporation.

Financial terms of the deal were not disclosed. 

Revelation purchased the assets of Harrow’s non‑ophthalmic compounding business, including its formulations, customer accounts, and other related assets. The transaction did not involve a pharmaceutical production or dispensing facility. Harrow will continue to support Revelation during an estimated 3-month transition period, and Revelation will offer employment to Harrow employees supporting the acquired business.

“This transaction is consistent with Harrow’s strategic vision to focus exclusively on ophthalmic medicines—to be a ‘pure play’ ophthalmic pharmaceuticals company,” Mark L. Baum, Harrow’s Chairman and Chief Executive Officer, said in a company news release. “As we approach several key milestones, including the upcoming commercial launch of recently FDA-approved Iheeza; the launch of our patent‑pending Fortisite compounded combination antibiotics; and the outcome of the MELT‑300 pivotal efficacy study, expected before the end of this year for one of our former subsidiaries, Melt Pharmaceuticals; progress on product acquisition activities we are pursuing; and new ophthalmic compounded product launches expected in the coming months, we believe this transaction demonstrates our resolve to concentrate on our core competencies and commercial expertise in the North American ophthalmic pharmaceuticals market. Going forward, our capital allocation strategy, including proceeds from this transaction, will be aimed at expanding Harrow’s branded ophthalmic product portfolio.”