According to Harrow, the transaction includes US and Canadian commercial rights to six therapeutics, including two over-the-counter. marks
Harrow today announced the signing of agreements with subsidiaries of Santen Pharmaceutical Co., Ltd. to acquire certain US and Canadian commercial rights for six Santen branded products.
According to the company, US products include:
FLAREX (fluorometholone acetate ophthalmic suspension) 0.1%, a corticosteroid indicated for the treatment of steroid-sensitive inflammatory conditions of the palpebral and bulbar conjunctiva, cornea, and anterior segment of the eye. NATACYN (natamycin ophthalmic suspension) 5%, a sterile antifungal indicated for the treatment of fungal blepharitis, conjunctivitis, and keratitis caused by susceptible organisms, including Fusarium solani keratitis. conditions for which a corticosteroid is indicated and where there is a superficial bacterial eye infection or risk of bacterial eye infection. has the exclusivity of orphan drugs. ZERVIATE (cetirizine ophthalmic solution) 0.24%, a histamine-1 (H1) receptor antagonist indicated for the treatment of ocular itching associated with allergic conjunctivitis. RESHKOTE, is used as a lubricant to reduce additional irritation or to relieve dryness of the eye.
And Canadian products including:
VERKAZIA (cyclosporine ophthalmic emulsion) 0.1%, calcineurin inhibitor immunosuppressant indicated for the treatment of vernal keratoconjunctivitis (VKC) in children four years of age through adolescence. Cationorm PLUS, a preservative-free emulsion for the treatment of dry eye symptoms and for the treatment of signs and symptoms of ocular allergy.
Mark L. Baum, Harrow’s president and chief executive officer, said in a press release that the acquisition advances the company’s goal of becoming a top tier leader in US ophthalmic pharmaceutical companies and makes the its brand portfolio in one of the most complete in the North American market. .
Baum added in the press release that it is expected to be financially rewarding immediately after the transfer of marketing authorizations for the product.
“We are delighted to add several highly useful and trusted products that serve the ophthalmic surgery market, a market in which we already have a strong presence, and to significantly expand the breadth of our portfolio, which will now include the ‘only FDA-approved ophthalmic antifungal. ; a patented and “designated orphan” product for the nearly 50,000 Americans who suffer from the rare disease vernal keratoconjunctivitis (or VKC); a patented prescription drug to treat itchy eyes associated with allergies; and two proprietary over-the-counter brands that serve patients managing dry eye symptoms,” he said in the press release.
Richard L. Lindstrom, MD, as an ophthalmic surgeon of nearly 50 years and an advisor to Baum and the Harrow leadership team for many years, was pleased with the acquisition.
“I am pleased to see Harrow step up and build not only a formidable posterior segment offering with products like IHEEZO and TRIESENCE, but also an impressive array of innovative anterior segment products that America’s ophthalmologists and optometrists rely on to serve their patients “, he said. he said in the press release. “While some ophthalmic pharmaceutical companies have decided to de-emphasize the former segment despite growing demand for this eye care category, with this acquisition, few, if any, companies can match the scope and depth of Harrow’s ophthalmic product offering, particularly in the anterior segment. I believe this level of engagement with the eye care professional should further strengthen and expand the many relationships Harrow has been able to forge over the past 10 years.”
Financing for the transaction was provided through the extension of Harrow’s secured credit facility with funds managed by Oaktree Capital Management, LP Harrow’s management expects the transaction to reduce the aggregate leverage ratio of debt-adjusted EBITDA .
In a separate agreement, Santen reached a licensing agreement with Visiox Pharmaceuticals Inc. on the rights to manufacture, market and sell products of OMLONTI, an eye drop for the reduction of elevated IOP in patients with glaucoma or ocular hypertension.
According to Santen, under the terms of the agreement, Santen grants Visiox exclusive rights in the US to manufacture and market OMLONTI products. Santen is eligible to receive sales milestone payments as well as royalties on net sales of OMLONTI in the United States.
