Eye care pharmaceutical company Harrow has sold its non-ophthalmic compounding business to Innovation Compounding Pharmacy, an affiliate of Revelation Pharma Corporation.
Revelation, owned by private equity firm Osceola Capital, now owns Harrow's assets, including its formulations and customer accounts, for the compounding business.
The sale did not involve any real estate or production facilities, and the amount of the sale is undisclosed.
"This transaction is consistent with Harrow's strategic vision to focus exclusively on ophthalmic medicines – to be a 'pure play' ophthalmic pharmaceuticals company," Mark Baum, Harrow's chair and CEO, said in an Oct. 5 press release. "Going forward, our capital allocation strategy, including proceeds from this transaction, will be aimed at expanding Harrow's branded ophthalmic product portfolio."