Novartis to divest five eye drugs to Harrow
US eyecare pharma company Harrow Health’s (Nasdaq: HROW) shares jumped 15% to $12.77 after it announced a binding agreement for the acquisition of the exclusive US commercial rights to five Food and Drug Administration (FDA)‑approved ophthalmic products from Swiss pharma giant Novartis (NOVN: VX).
This acquisition, when closed, will further expand and diversify Harrow’s portfolio of branded pharmaceutical products and its ability to serve the US ophthalmic surgical and acute care markets. Subject to customary closing conditions, this acquisition is expected to close in early 2023.
Deals could cost up to $175 million
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