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# Harrow Pays $30 Million Cash To Close TYRVAYA Deal, With Up To $70 Million More Tied To Sales
- URL: https://www.bullished.co/harrow-pays-30-million-cash-to-close-tyrvaya-deal-with-up-to-70-million-more-tied-to-sales-481ef12e/
- Published: 2026-10-05T11:51:02.000Z
- Updated: 2026-10-05T11:51:02.000Z
- Description: The company expects the dry eye nasal spray to add more than $30 million in 2027 revenue; Viatris keeps Japan.
- Author: Matteo Parrino
- Tags: SEC Filings, HROW, Industry: Healthcare

Harrow completed its purchase of the TYRVAYA dry eye nasal spray from Viatris, paying [$30.0 million in cash](https://www.globenewswire.com/news-release/2026/10/05/3374393/0/en/harrow-closes-acquisition-of-tyrvaya.html?ref=bullished.co) at closing, according to an 8-K filed Monday. The deal closed October 1, and the company expects the product to contribute more than $30 million of revenue in 2027.

## What the 8-K says

Harrow paid Viatris the cash from its own balance sheet. It may owe up to $70.0 million more in milestone payments, which would bring [total consideration to as much as $100 million](https://www.globenewswire.com/news-release/2026/10/05/3374393/0/en/harrow-closes-acquisition-of-tyrvaya.html?ref=bullished.co), the company said in a press release.

The milestones hinge on net sales thresholds for TYRVAYA, measured over twelve-month periods that end on or before December 31, 2029.

Harrow gets rights in every country except Japan. The assets include the new drug application and other regulatory approvals, intellectual property, technology and inventory, plus related contracts and certain specified liabilities.

Viatris keeps the Japanese rights and owes Harrow tiered royalties on annual net sales there. The two sides also agreed to negotiate a collaboration agreement covering Viatris's work on the drug in Japan.

## What changed from the August deal

The companies signed the original asset purchase agreement on August 3\. On October 1 they amended and restated it, carving out Japan and dropping a post-closing price adjustment based on net working capital. That is why the closing cash payment was fixed at $30.0 million.

The contingent milestone payments and other principal terms were not changed in any material respect, the filing says.

## What it means for the sales operation

TYRVAYA is a nasal spray for dry eye disease, which Harrow will sell alongside VEVYE, its flagship prescription therapy for the condition. Both products use PhilRx as the primary specialty pharmacy and will sit under one Ocular Surface sales organization.

Harrow expects about 40 Viatris personnel to join that team, with onboarding planned for the fourth quarter of 2026.

CEO Mark L. Baum said "VEVYE remains the cornerstone of our dry eye franchise," while TYRVAYA offers "an established, complementary prescription brand."

HROW closed at $30.48 at Friday's close, before the company disclosed the closing (market data). The company's press release lists sneezing as the most common adverse reaction to TYRVAYA, reported by 82% of patients.

## What to watch

Harrow will file the purchase agreement as an exhibit to its quarterly report for the period ended September 30, 2026\. The Japan collaboration agreement with Viatris still has to be negotiated.

The next concrete document is that quarterly report, which will carry the full text of the purchase agreement.

### Sources

- [8-K Filing — HARROW, INC. (HROW)](https://www.sec.gov/Archives/edgar/data/0001360214/000162828026064749/hrow-20261001.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit hrow-20261001xex991.htm — HARROW, INC. 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0001360214/000162828026064749/hrow-20261001xex991.htm?ref=bullished.co) — SEC EDGAR
- [Harrow Closes Acquisition of TYRVAYA®](https://www.globenewswire.com/news-release/2026/10/05/3374393/0/en/harrow-closes-acquisition-of-tyrvaya.html?ref=bullished.co) — globenewswire.com