Harrow Health, Inc. (HROW): Marketing Mix Analysis [Dec-2025 Updated]

You're looking at a critical inflection point for Harrow Health, Inc. as we hit late 2025, and honestly, the four P's tell a clear story: this company is rapidly pivoting from its compounding roots to a full-fledged branded pharmaceutical player. We see this shift reflected in the numbers, with VEVYE alone projected to clear $100 million in 2025 revenue, all while the company maintains a full-year guidance north of $280 million on the back of robust 79% gross margins from Q2. If you want to see exactly how their new access programs, like HAFA, are driving both product adoption and that impressive top-line growth across their expanded portfolio, you need to dig into the details below.

Harrow Health, Inc. (HROW) - Marketing Mix: Product

You're looking at the core offerings from Harrow Health, Inc. as of late 2025. The product element here is a focused, expanding portfolio designed to manage a wide spectrum of ophthalmic conditions, spanning both the front and back of the eye. This strategy centers on leveraging a scalable commercial platform across different medication types.

Harrow Health, Inc.'s product offering is built on a foundation that includes branded pharmaceuticals, authorized generics, and compounded ophthalmic medications. Also, the company is actively integrating biosimilars into this mix to address high-cost retinal treatments.

• Branded pharmaceuticals like VEVYE and IHEEZO.
• Authorized generics and biosimilars, including BYOOVIZ and OPUVIZ.
• Compounded ophthalmic medications.
• New topical steroid BYQLOVI.

VEVYE, the flagship dry eye treatment, is projected to generate over $100 million in 2025 revenue. For context, Harrow Health, Inc.'s total revenues for the third quarter of 2025 reached $71.6 million. VEVYE alone accounted for $21.5 million in revenue in the first quarter of 2025. TRIESENCE, an injectable steroid, is expected to become a top three revenue-generating product in 2025, with an original acquisition thesis suggesting it should eventually deliver $100 million in annual revenue.

Recent additions significantly bolster the portfolio, particularly in the retina and post-surgical care segments. Harrow Health, Inc. acquired US commercial rights to BYQLOVI, an FDA-approved steroid for inflammation and pain after ocular surgery, which is expected to be commercially available in the fourth quarter of 2025. Furthermore, the company secured exclusive US commercial rights to two Samsung Bioepis biosimilars: BYOOVIZ, referencing LUCENTIS, and OPUVIZ, referencing EYLEA. The transition of commercial rights for these biosimilars is expected to complete by the end of 2025.

The focus is clearly on a comprehensive suite for anterior and posterior segment eye diseases. This breadth allows Harrow Health, Inc. to address conditions ranging from dry eye disease to retinal diseases like wet age-related macular degeneration (wet AMD).

Here's a look at some key products and their associated financial or development data as of late 2025:

The company's product strategy is designed to capture market share across multiple high-value areas. For instance, the anti-VEGF biosimilars aim to offer a 30-40% wholesale acquisition cost (WAC) reduction compared to the reference products.

Harrow Health, Inc. (HROW) - Marketing Mix: Place

Harrow Health, Inc.'s distribution strategy centers on direct engagement with healthcare providers to ensure product availability across North America. This approach is critical for specialty pharmaceuticals where physician recommendation and streamlined ordering are paramount to patient access.

Distribution leverages a direct-to-physician commercial platform in North America. This platform is the primary conduit for getting Harrow Health, Inc.'s products, including VEVYE and IHEEZO, into the hands of prescribing ophthalmologists. The company's commercial team is tasked with leveraging this infrastructure to drive adoption. For context on the scale, Harrow Health, Inc. reported total revenues of $63.7 million for the second quarter of 2025, with an overall revenue guidance for the full year 2025 set at over $280 million.

Key dispensing partner is PhilRx for patient access programs like VAFA. The VEVYE® Access for All (VAFA) program relies heavily on the partnership with PhilRx, a national mail-order specialty pharmacy. This collaboration is designed to eliminate administrative friction. For example, following the VAFA launch, new prescription (NRx) volumes for VEVYE at PhilRx increased by >4X, and the number of weekly prescribers also increased by 4X. Furthermore, out-of-pocket expenses for eligible commercially insured patients utilizing PhilRx have decreased by over 95% post-VAFA implementation.

The success of this specialized channel is reflected in prescription volume growth. As of the end of June 2025, total prescription (TRx) volumes for VEVYE were up 66% sequentially from Q1 2025, reaching 119,526 units, with nearly 50,000 units being new prescriptions in the second quarter alone.

Recent expansion to a full nationwide retail pharmacy network for VEVYE. To further enhance VEVYE's reach beyond the initial specialty pharmacy focus, Harrow Health, Inc. integrated a second specialty pharmacy partner, Apollo Care. This network is structured to provide full nationwide coverage, encompassing more than 500 pharmacies, broadly contracted with major and smaller commercial, TRICARE, and Medicare plans. This expansion is intended to improve the Average Selling Price (ASP) for VEVYE and unlock further commercial potential.

TRIESENCE market access includes Ambulatory Surgery Centers (ASCs) via pass-through status. The Centers for Medicare & Medicaid Services (CMS) granted TRIESENCE transitional pass-through status, effective April 1, 2025. This allows for separate reimbursement outside of the surgical bundled payment in both ASC and Hospital Outpatient Department (HOPD) settings for a period of three years. Reimbursement is set at the Average Sales Price (ASP) plus 6% in these settings. The product already utilizes a permanent, product-specific J-Code, J3300, for billing in physician offices. Management has a target for TRIESENCE to eventually deliver $100 million in annual revenue.

The HarrowAccess.com portal acts as a centralized, defintely streamlined ordering hub for physicians. This portal is designed to simplify the process for physicians to order products, creating a more frictionless path to therapy for their patients. The use of EMR integration for prescription submission, as seen with PhilRx, suggests a focus on digital efficiency across the entire ordering ecosystem.

Key distribution channel characteristics include:

• VEVYE access is supported by 100% of U.S. Medicaid programs and 60% of commercial insurance coverage as of late 2024/early 2025.
• VEVYE secured inclusion in key Medicare Part D formularies starting January 1, 2025, covering over 25 million beneficiaries across sponsors like Express Scripts, Cigna, Kaiser Permanente, and CVS Caremark.
• TRIESENCE is positioned as the only preservative-free synthetic corticosteroid with separate reimbursement across all traditional settings: office, ASC, and HOPD.
• Harrow Health, Inc. is doubling its salesforce and expects to cover approximately 100 U.S. territories by Memorial Day 2026 to support anticipated higher unit volumes.

Harrow Health, Inc. (HROW) - Marketing Mix: Promotion

The promotion strategy for Harrow Health, Inc. (HROW) centers on simplifying patient and prescriber access, positioning its programs as the primary differentiator for its growing portfolio of ophthalmic products. This approach moves beyond traditional product-specific advertising to focus on systemic ease-of-use.

Harrow Access for All (HAFA) Program Expansion

The Harrow Access for All (HAFA) program is the core promotional strategy, expanding across the entire Harrow Health portfolio in late 2025. This initiative builds directly on the success of the single-product access model that preceded it. HAFA is designed to provide a single, unified access point for prescribers and patients, offering affordability and streamlined prescribing for branded, authorized generics (AGx), and compounded ophthalmic medications. Phase 1 of the HAFA rollout, expected in Q4 2025, covers the majority of the specialty product portfolio, including the upcoming launch of BYQLOVI™ (clobetasol propionate ophthalmic suspension) 0.05%).

The positioning is clear: HAFA is being presented as the 'Amazon for Ophthalmology,' aiming to transform the prescribing process into a seamless, hassle-free experience. This centralization allows prescribers to create protocol decision trees within the HarrowAccess.com Portal to ensure patients access the most appropriate medication based on their coverage circumstances.

VEVYE Access for All (VAFA) as Proof of Concept

The success of the preceding VEVYE Access for All (VAFA) initiative, launched in March 2025, validates this access-first model. VAFA was specifically designed to eliminate administrative burdens like prior authorizations and step therapy for VEVYE (cyclosporine ophthalmic solution) 0.1%). The model works, showing strong uptake: total prescription (TRx) volumes for VEVYE were up 66% sequentially from Q1 2025, reaching 119,526 units by the end of June 2025. Of those units, nearly 50,000 were new prescriptions (NRx) in the second quarter of 2025. The program offered eligible patients their first prescription for as little as $0, with refills available at $59 per bottle for eligible patients not covered by commercial insurance. Furthermore, the program expanded to include over 25,000 patients on Klarity-C Drops, allowing them to convert to VEVYE for $59 per bottle, including refills.

Here's a quick look at the access model metrics that underpin the HAFA strategy:

Driving IHEEZO Unit Demand via Sales Execution

The sales team is actively targeting large new accounts to drive IHEEZO unit demand, a key component of the broader portfolio growth. The potential from this focused effort is substantial; the top 10 accounts currently in the IHEEZO pipeline represent an estimated 80,000 incremental annual units. This targeted approach is showing results, as evidenced by the Q2 2025 performance: IHEEZO revenue rose to $18.3 million, a sequential increase of 251% over Q1 2025. Unit demand for IHEEZO in Q2 2025 reached 48,765 units, a 63% increase over Q2 2024. The sales team engaged with 19 new accounts in the second quarter of 2025 alone.

The promotional push for the portfolio includes several key tactics:

• Targeting large private equity-owned ophthalmic groups for IHEEZO adoption.
• Achieving 100% coverage of the retina market through agreements with all four major retina-focused Group Purchasing Organizations (GPOs).
• Securing favorable coverage for VEVYE with the largest US pharmacy benefit manager of commercial lives, effective January 1, 2026.
• Expanding the specialty distribution network to serve large independent retina practices.

Strategic Alliances and Market Access Wins

Strategic alliances and market access wins are critical components of the promotion strategy, ensuring that the simplified access promised by HAFA is backed by payer acceptance. Harrow Health entered coverage agreements with several leading national payers, which is a direct result of the commercial team's efforts. The expansion of the VAFA program also included a partnership with Alto Pharmacy to enhance distribution capabilities. These access wins directly support the goal of making the portfolio, including VEVYE, affordable and accessible regardless of insurance status, which is the central theme of the HAFA communication strategy.

Harrow Health, Inc. (HROW) - Marketing Mix: Price

The pricing element for Harrow Health, Inc. centers on maximizing realized revenue while ensuring broad patient access across its diverse ophthalmic portfolio. This involves product-specific reimbursement strategies and comprehensive patient affordability programs.

The company maintains a strong top-line expectation, with the full-year 2025 revenue guidance previously set at more than $280 million. More recently, Harrow Health updated this outlook to a range of $270 million to $280 million, signaling a slightly more conservative but still robust projection for the year, which supports pricing stability.

Operational efficiency directly underpins pricing power. Core gross margins remained robust, hitting 79% in the second quarter of 2025, indicating strong control over the cost of goods sold relative to the realized selling price.

Harrow Health deploys patient access programs to make medications competitively accessible. The Harrow Access for All (HAFA) program, which expanded upon the Vevye Access for All (VAFA) initiative, is designed to cap out-of-pocket costs for eligible patients. For these patients, out-of-pocket costs are capped at $59, with costs often as low as $0 for eligible commercially insured patients.

The pricing strategy for TRIESENCE is heavily supported by its unique reimbursement structure. TRIESENCE has a permanent, product-specific J-Code, J-3300, for reimbursement in physician offices. Furthermore, following a Centers for Medicare & Medicaid Services (CMS) approval effective April 1, 2025, TRIESENCE became eligible for separate reimbursement outside of the surgical bundled payment in Ambulatory Surgery Centers (ASCs) and Hospital Outpatient Departments (HOPDs) for three years, reimbursed at Average Sales Price (ASP) plus 6% in those settings.

For VEVYE, the pricing model leverages high refill rates through the PhilRx specialty pharmacy partner to drive long-term, predictable revenue streams. The VEVYE Access for All program sets the refill price at $59 per bottle for eligible patients, while the first prescription can be as low as $0 for commercially insured patients.

Here is a summary of the key pricing and access components:

The strategy relies on a tiered approach; for high-value, procedure-based products like TRIESENCE, pricing is secured through specific reimbursement codes and favorable CMS rulings. For chronic treatments like VEVYE, the focus shifts to high-volume, low-friction patient access via a flat-rate refill program through a dedicated specialty pharmacy partner, PhilRx.

Harrow Health also utilizes specific affordability levers for different patient segments:

• Eligible commercially insured patients may pay as little as $0 for their first VEVYE prescription.
• Patients not covered by commercial insurance may use the VEVYE program to reduce costs to as low as $59 per bottle for refills.
• The HAFA program extends the $59 cap and $0 minimum to the majority of the specialty product portfolio starting in Q4 2025.

Finance: review Q3 2025 realized pricing versus ASP benchmarks by end of next week.