Harrow Inc. (NASDAQ: HROW) is a pharmaceutical company that compounds and commercializes drug products primarily for ophthalmic and other specialty medical uses. Revenue comes from selling compounded and FDA-approved drug products directly to doctors, ambulatory surgery centers, healthcare systems, and hospitals across the United States. Harrow operates an FDA-registered Section 503B outsourcing facility, which is subject to current good manufacturing practice (cGMP) requirements and FDA inspection authority. The company's sales and marketing focus is domestic, with limited international presence through distributor and out-licensing arrangements in markets including Canada. Harrow has a limited history of profitability and carries meaningful debt, including $242.7 million in senior notes (the 2030 Notes) issued in September 2025 and a $40 million secured revolving credit facility with Fifth Third Bank as of September 2025. The company has a subsidiary called Surface and may pursue additional product acquisitions to build on its existing commercial infrastructure.

Revenue model

Transactional product sales of compounded and FDA-approved pharmaceutical formulations to healthcare providers, supplemented by out-licensing arrangements for certain products in international markets.

Products and services

Compounded drug formulations produced at an FDA-registered Section 503B outsourcing facility, FDA-approved drug products, and proprietary pharmaceutical formulations; specific product names are not detailed in the available filing excerpts.

Customers and end markets

Physicians, ambulatory surgery centers, healthcare systems, and hospitals in the United States; specialty pharmacy end markets with a concentration in ophthalmic and surgical-use drugs.

Value-chain role

Specialty pharmaceutical manufacturer and commercial-stage distributor; compounds and sells drug products directly to healthcare providers, with some products distributed through third-party partners in international markets.

Geographic exposure

Primarily United States; limited international presence through distributors and out-licensing arrangements including Canada, as noted in the FY2025 10-K filed 2026-03-02.

Source: SEC 10-K, filed 2026-03-02

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