Harrow has completed its acquisition of TYRVAYA from Viatris, adding the first and only FDA-approved nasal spray for dry eye disease to its growing ocular surface treatment portfolio.
Under the terms announced in August, Harrow paid $30 million in cash at closing and may pay up to another $70 million in contingent milestone payments tied to TYRVAYA net sales.
The transaction therefore carries potential total consideration of up to $100 million.
Harrow funded the $30 million closing payment with cash on hand.
The company acquired worldwide rights to TYRVAYA, except in Japan.
Viatris retained commercialization rights in Japan and agreed to pay royalties to Harrow on future net sales in that market.
TYRVAYA, or varenicline solution nasal spray 0.03 mg, is a cholinergic agonist approved to treat the signs and symptoms of dry eye disease.
Unlike traditional topical eye treatments, TYRVAYA is administered through the nose and is thought to activate the trigeminal parasympathetic pathway to stimulate basal tear production.
The treatment is approved in the U.S., China and Taiwan, with marketing applications pending in additional markets.
Harrow is positioning TYRVAYA alongside VEVYE, its flagship prescription dry eye therapy, to provide eye care professionals with two treatments that use different mechanisms and routes of administration.
TYRVAYA will be available through Harrow’s commercial organization immediately following closing.
Harrow expects approximately 40 experienced Viatris employees with knowledge of TYRVAYA and the dry eye market to join its Ocular Surface commercial team during the fourth quarter of 2026.
The expanded team will support both VEVYE and TYRVAYA as integration progresses.
Harrow expects the additional personnel to increase its reach and frequency of engagement with ophthalmologists and optometrists treating dry eye disease.
The company also sees cross-selling opportunities by introducing VEVYE to TYRVAYA’s existing prescriber base and increasing TYRVAYA adoption through Harrow’s commercial network.
Both products use PhilRx as their primary specialty pharmacy, allowing Harrow to share commercial, patient-support, market-access and operational infrastructure across the two brands.
Harrow expects TYRVAYA to generate more than $30 million of revenue in 2027.
KEY QUOTES:
“Today marks an important step forward for Harrow and for the physicians and patients we serve. 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. VEVYE remains the cornerstone of our dry eye franchise, while TYRVAYA gives us an established, complementary prescription brand with a unique route of administration and an existing base of physicians who know and use the product.
We see a significant commercial opportunity ahead. TYRVAYA comes to Harrow with meaningful physician awareness, an established prescription base, and years of real-world clinical experience. By combining that foundation with Harrow’s expanding Ocular Surface commercial organization, market access capabilities, and focus on patient access and affordability, we believe we can introduce TYRVAYA to many more eyecare professionals and patients while also expanding awareness of VEVYE among existing TYRVAYA prescribers.”
Mark L. Baum, Chief Executive Officer of Harrow
“TYRVAYA is a product I have used extensively in my dry eye practice, and its nasal route of administration makes it a truly differentiated treatment option. For patients who struggle with eye drops or contact lens wearers who want an option that does not require removing their lenses, TYRVAYA can fit very well into their treatment routine. I have seen firsthand the value of stimulating a patient’s own tear production, and I am pleased to see TYRVAYA become part of Harrow, a company deeply committed to eyecare and patient access.”
Laura Periman, MD, Board-Certified Ophthalmologist at Periman Eye Institute
“VEVYE has become an important option in my dry eye practice because of the clinical benefits it can provide, and TYRVAYA is another therapy I know well and have prescribed for years. The two products approach dry eye very differently: VEVYE is applied directly to the ocular surface, while TYRVAYA is administered nasally and stimulates natural tear production through a distinct mechanism. Having therapies with different mechanisms and routes of administration gives me greater flexibility to individualize treatment based on each patient’s needs. I’m pleased to see both products together at Harrow, giving physicians more options for patients with this chronic disease.”
Paul Karpecki, OD, Director of Cornea and External Disease at Kentucky Eye Institute
