Harrow Health

What Harrow Health does

Harrow Health, Inc. (NASDAQ: HROW) is a Nashville-headquartered, commercial-stage ophthalmic pharmaceutical company that develops, markets, and distributes FDA-approved prescription therapies, branded specialty products, and compounded ophthalmic medications. The company serves eyecare professionals — primarily ophthalmologists and optometrists — and the patients they treat, operating exclusively in North America. Harrow's core commercial portfolio includes VEVYE (cyclosporine ophthalmic solution 0.1% for dry eye disease, $88.7M in FY2025 revenue, up 216% year-over-year), IHEEZO (chloroprocaine hydrochloride ophthalmic gel 3%, a topical anesthetic, $35.9M in Q4 2025 alone), TRIESENCE (triamcinolone acetonide injectable suspension for ocular inflammation), VERKAZIA (cyclosporine ophthalmic emulsion 0.1% for vernal keratoconjunctivitis), and IOPIDINE 1% (aprachlonidine for post-laser intraocular pressure management, with a permanent CMS J-Code J2374 effective July 1, 2026). The portfolio was expanded through the July 2023 acquisition of Santen Pharmaceutical's branded ophthalmic assets and the November 2025 acquisition of Melt Pharmaceuticals, which added the MELT-300 non-opioid procedural sedation platform targeting 2028 approval.

Harrow's commercial model rests on three pillars: a direct enterprise field sales force targeting eyecare prescribers (planned expansion to 100 territories by Memorial Day 2026), distribution through LogiCare3PL for U.S. logistics (effective February 1, 2026), and pharmacy benefit manager formulary placements — most notably the CVS Caremark Tier 1 win for VEVYE that displaced Xiidra effective January 1, 2026. The company also maintains a specialized compounding pharmacy business that provides personalized ophthalmic medications, serving as a foundational revenue stream.

In FY2025, Harrow reported $272.3M in revenue (up 36% year-over-year) and $61.9M in adjusted EBITDA (up 54% year-over-year), with a five-year revenue CAGR above 41% and five-year adjusted EBITDA CAGR above 61%. Management has guided 2026 revenue to $350-365M. Forward growth is supported by a launch pipeline that includes biosimilars (BYOOVIZ in mid-2026, BYQLOVI in Q2 2026, OPUVIZ in January 2027), a TRIESENCE Phase 3 trial in cataract surgery (approximately 250 patients), and the VERKAZIA re-launch for vernal keratoconjunctivitis. The company is publicly traded with institutional ownership around 72.76% as of Q1 2026, a $1.46B-$1.58B market capitalization, and is led by founder and CEO Mark L. Baum.

Name

Harrow Health

Legal name

Harrow, Inc.

Website

https://harrowinc.com

Company type

Public

Founded year

2022

Operating status

Operating

Headcount range

251–500 employees

Short description

Harrow Health (NASDAQ: HROW) is a Nashville-based commercial-stage ophthalmic pharmaceutical company that develops, markets, and distributes FDA-approved prescription therapies and specialty compounded medications to eyecare professionals and their patients across North America, generating $272.3M in FY2025 revenue.

Ownership category

akta.pro rank

Product category

Ophthalmic Pharmaceuticals

SIC

Pharmaceutical Preparations (2834)

akta.pro primary industry

Ophthalmology Pharmaceuticals (HLAIAAAL)

akta.pro secondary industries

Ophthalmology Specialty Pharmaceuticals (HLAIACAK), Rare Ophthalmology Disorder Therapies (HLAIAIAK), Specialty Care Pharmaceuticals (HLAIAAAB), Pain Management & Anesthesiology Pharmaceuticals (HLAIAAAN)

Keywords

• Ophthalmic pharmaceuticals
• Prescription eye care
• Dry eye treatment
• Ocular therapeutics
• Branded eye drugs

Headquarters

HQ city

Nashville

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Personnel, Marketing or Sales, Technology or R&D, Supply Chain, Infrastructure

Revenue model

1. Branded Pharmaceutical Products: Revenue from sale of FDA-approved prescription ophthalmic drugs including VEVYE, IHEEZO, TRIESENCE, VERKAZIA, and IOPIDINE 1%. These are sold through pharmacies and distributed to eyecare professionals and patients.
2. Compounding Pharmacy: Specialized compounding business providing personalized ophthalmic medications, serving as a foundational component of Harrow's product portfolio and revenue base.
3. Biosimilar Products: Revenue from upcoming biosimilar launches including BYOOVIZ (mid-2026) and OPUVIZ (January 2027), expanding product portfolio into biosimilar market segment.
4. Acquisition Integration: Revenue growth driven by strategic acquisitions including Santen Pharmaceutical's branded ophthalmic portfolio (July 2023) and Melt Pharmaceuticals (November 2025), expanding product offerings and market presence.

Go-to-market motion3 records

Distribution channels3 records

Marketing channels5 records

Core offering

Harrow Health is a commercial-stage eye health pharmaceutical company that develops, acquires, and markets FDA-approved branded prescription ophthalmic therapies. Its portfolio includes VEVYE, IHEEZO, TRIESENCE, VERKAZIA, and IOPIDINE 1%, addressing dry eye, ocular anesthesia, inflammation, vernal keratoconjunctivitis, and intraocular pressure. The company also operates a specialized ophthalmic compounding pharmacy business and is developing non-opioid procedural sedation (MELT-300) and biosimilars.

Product overview

Harrow Health operates as an ophthalmic pharmaceutical company with a diversified portfolio of branded therapies, acquired products, and pipeline assets. The core commercial portfolio includes VEVYE (dry eye treatment), IHEEZO (anesthetic gel), TRIESENCE (corticosteroid for ocular inflammation), VERKAZIA (for vernal keratoconjunctivitis), and IOPIDINE 1% (for intraocular pressure). The company also holds acquired brands from Santen Pharmaceutical (urology/panuveitis treatments) and has expanded into non-opioid sedation through the Melt Pharmaceuticals acquisition. Pipeline products include planned biosimilars BYOOVIZ and OPUVIZ. The portfolio addresses various ophthalmic conditions including dry eye disease, ocular inflammation, allergic eye disease, and procedural sedation.

Differentiator

Problem solved

Functional benefit

Brands

• Harrow IP, LLC: Subsidiary entity holding Harrow's registered trademarks

Products and services

• VEVYE (cyclosporine ophthalmic solution 0.1%) FDA-approved prescription therapy for dry eye disease. Generated $88.7M full-year revenue in 2025, up 216% year-over-year.
• IHEEZO (chloroprocaine hydrochloride ophthalmic gel 3%)
• TRIESENCE (triamcinolone acetonide injectable suspension) Corticosteroid injectable suspension for the treatment of ocular inflammation. Phase 3 trial underway to expand label to all cataract surgery patients.
• VERKAZIA (cyclosporine ophthalmic emulsion) 0.1% FDA-approved calcineurin inhibitor immunomodulator for vernal keratoconjunctivitis (VKC), a serious allergic eye disease primarily affecting children. First FDA-approved steroid-sparing therapy for VKC.
• IOPIDINE 1%
• MELT-300 Non-opioid, non-IV procedural sedation therapy aimed at transforming procedural sedation and reducing opioid exposure.
• BYOOVIZ (planned biosimilar) Planned biosimilar launch for mid-2026, expanding Harrow's portfolio into the biosimilar market segment.
• OPUVIZ (planned biosimilar) Planned biosimilar launch for January 2027, expanding Harrow's biosimilar portfolio.
• BYQLOVI (planned product) Planned product launch for Q2 2026.
• Santen Pharmaceutical Branded Ophthalmic Portfolio (acquired) Acquired Japanese pharmaceutical firm's branded ophthalmic portfolio specializing in uveitis and panuveitis treatments, strengthening Harrow's North American commercial footprint.
• Ophthalmic Compounding Pharmacy Services

Quantifiable outcome

• VEVYE reduces severe IOP spikes after laser procedures from 23% to 2% (91% relative risk reduction)
• +3 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Three partnerships are on record, tiered core.

• LogiCare3PLcoreChannel Partner/ Reseller/ Distributor · 1 February 2026LogiCare3PL was selected as Harrow's U.S. distribution partner for its portfolio of ophthalmic disease management solutions, effective February 1, 2026. LogiCare3PL provides both non-title and 3PL title distribution services, successfully onboarding Harrow within four weeks to meet rapid market readiness timelines. Both organizations anticipate continued collaboration as Harrow expands its product offerings across the U.S. market.
• Melt PharmaceuticalscoreStrategic or Co-development Partner · 18 November 2025Harrow completed the acquisition of Melt Pharmaceuticals, a company specializing in non-opioid, non-IV sedation therapies. Melt's product portfolio includes MELT-300, which aims to transform procedural sedation and reduce opioid exposure, with plans for further clinical development and regulatory approval by 2028. The acquisition expands Harrow's portfolio into new therapeutic areas.
• Santen Pharmaceutical Co. Ltd.coreStrategic or Co-development Partner · 1 July 2023Harrow acquired Santen Pharmaceutical Co. Ltd.'s branded ophthalmic portfolio in July 2023. Santen is a Japanese pharmaceutical firm specializing in uveitis and panuveitis treatments. The acquisition broadened Harrow's product portfolio and strengthened its commercial footprint across North America in the ophthalmic pharmaceutical market.

Scale indicators11 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Bausch + Lomb: Bausch + Lomb is a global eye-health company with a broad ophthalmic pharmaceutical and surgical portfolio. It directly competes with Harrow across dry eye, inflammation, and surgical adjunct categories, with a similarly diversified branded eyecare franchise.
• Alcon: Alcon is a leading eyecare company spanning surgical, vision care, and ophthalmic pharmaceuticals. It overlaps with Harrow in prescription ophthalmics and competes for PBM and physician relationships across dry eye and surgical adjuncts.
• Sun Pharmaceutical Industries: Sun Pharma's specialty/ophthalmic division markets branded and generic ophthalmic products, including dry-eye therapies. It is comparable to Harrow's specialty pharma and compounding roots and competes for the same eyecare prescriber base.
• Amneal Pharmaceuticals: Amneal has a specialty/generics business with growing ophthalmic and complex therapeutic offerings, including biosimilars. It is comparable to Harrow in combining specialty pharma with a developing biosimilar pipeline targeting the same payer channels.

Broad incumbents

• AbbVie (Allergan Aesthetics / Eye Care): AbbVie's Allergan heritage includes the Restasis franchise and a deep ophthalmic pipeline. As a broad incumbent, it competes head-to-head with Harrow in dry eye while bringing significantly larger commercial and R&D resources.
• Novartis (Ophthalmology): Novartis operates a sizable ophthalmology franchise including Lucentis and dry-eye assets. As a broad incumbent, it competes with Harrow across multiple ophthalmic indications and is comparable in therapeutic focus if not in scale.

Emerging players

• Ocular Therapeutix: Ocular Therapeutix is a biopharmaceutical company focused on ophthalmic diseases, with commercial and pipeline assets in dry eye and post-surgical inflammation. It is comparable to Harrow as a smaller, ophthalmic-focused commercial-stage company.
• EyePoint Pharmaceuticals: EyePoint Pharmaceuticals develops sustained-release ocular therapies for retinal and other eye diseases. It is comparable to Harrow as a focused ophthalmic drug developer targeting similar eyecare specialists, though smaller in commercial scale.
• Tarsus Pharmaceuticals: Tarsus Pharmaceuticals is a commercial-stage ophthalmic company with a lead product in eye-care (e.g., Demodex blepharitis). It is comparable to Harrow as a specialty eyecare pharma company building category-defining franchises.
• Apellis Pharmaceuticals: Apellis markets ophthalmic therapies for retinal diseases and has expanded into earlier segments of eye care. It is comparable to Harrow as a focused commercial-stage ophthalmic biopharma with branded, specialty-distributed products.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/harrow-health-inc

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries3 records

Funding overview

Funding rounds9 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Harrow Health