BUSINESS Harrow Health Acquires U.S. Commercial Rights to Four Branded Eye Drops from Novartis By Staff Monday, December 27, 2021 12:15 AM NASHVILLE, Tenn.—Harrow Health, Inc. (NASDAQ: HROW), an ophthalmic‑focused health care company, announced its acquisition of the exclusive U.S. commercialization rights of four FDA-approved ophthalmic medicines, Iopidine 1% and 0.5% (apraclonidine hydrochloride), Maxitrol (neomycin and polymyxin B sulfate and dexamethasone) 3.5mg/10,000 units/0.1%, and Moxeza 0.5% (moxifloxacin hydrochloride), from Novartis. The acquired products, which will be sold, marketed, and distributed through Harrow’s wholly owned subsidiary, ImprimisRx, combined with the company’s existing ophthalmic‑focused product portfolio, support Harrow’s growing ophthalmic surgical and acute care market presence, according to the announcement.Under the terms of the agreement, after closing, Harrow and Novartis will immediately begin a transition period where Novartis will continue to sell the products and transfer the net profit to Harrow. Following the transition period, Harrow expects to have the products manufactured by third parties and commercialize the products for the U.S. market, while Novartis will retain all rights to the products outside of the U.S. Under the terms of the agreement, Harrow made a one‑time payment of $14 million at closing. William F. Wiley, MD, medical director of the Cleveland Eye Clinic, said, “FDA-approved Iopidine 1% is the gold standard for treating or preventing intraocular pressure during and after YAG laser eye surgery, which is required for about 40 percent of all prior cataract surgery patients. Iopidine 0.5% has been trusted by physicians for many years. As a private practice clinic, we have found that these important medicines aren’t readily available from our distributors. Harrow and ImprimisRx will change that. “Our practice typically prescribes ImprimisRx’s compounded LessDrops formulations, but despite our best efforts to control costs, not all patients can afford cash-pay products, and a growing number of patients want to use their Medicare and Medicaid benefits. For some of these patients, we prescribe MaxitroL, because of its wide insurance coverage and long history of success. “Also, Moxeza, which has broad spectrum microbial coverage and is a fourth generation fluoroquinolone, is the only topical in its class that is approved for twice‑daily (BID) use. It’s exciting to know that ImprimisRx will soon be making these branded products widely available, which will provide doctor and patient access to the most appropriate pharmaceutical option—all from a single, easy‑to‑use and trusted source,” Dr. Wiley said. Mark L. Baum, CEO of Harrow Health, added, “We are pleased to now be the only U.S. ophthalmic pharmaceutical company to provide both branded FDA-approved products and high-quality compounded formulations. In addition, we uniquely have self-distribution capabilities, direct to institutions like hospitals, ambulatory surgery centers, and doctors' offices, as well as to consumers through our ImprimisRx 50-state mail order pharmacy. We are excited about the benefits these newest products provide our more than 10,000 customers, and we expect ImprimisRx’s commercial and distribution platform to be a tremendous advantage in the lifecycle management of these clinically valuable medicines.” VelocityHealth Securities and B. Riley Securities acted as financial advisors to Harrow Health on the transaction with Novartis.