Harrow's VEVYE®: Market Access Wins and Eye Care Revolution
Tuesday, Nov 12, 2024 7:19 am ET
4min read Harrow (Nasdaq: HROW), a leading North American eyecare pharmaceutical company, has recently announced significant market access wins for its innovative product, VEVYE®. This cyclosporine ophthalmic solution, based on advanced "water-free" semifluorinated alkane eyedrop technology, is the first and only cyclosporine-based product indicated for treating both signs and symptoms of dry eye disease (DED). With these wins, Harrow is poised to revolutionize the eye care market and address the unmet needs of millions of Americans suffering from DED.
VEVYE®'s market access wins include key formulary placements in major 2025 Medicare Part D prescription drug programs, starting January 1, 2025. These placements, secured with major plan sponsors such as Express Scripts, Cigna, Kaiser Permanente, and CVS Caremark, represent over 25 million Medicare Part D beneficiaries. Additionally, VEVYE® has achieved 100% coverage across U.S. Medicaid programs and 60% of commercial insurance plans, further expanding its accessibility to patients.
The inclusion of VEVYE® in these formularies is a testament to Harrow's commitment to ensuring that patients, regardless of their insurance type, have access to effective treatment for chronic DED. With 67 million Medicare beneficiaries in the U.S., including 54 million with Medicare Part D prescription coverage, and the prevalence of DED rising with age, the need for accessible, efficient treatments is substantial. VEVYE®'s unique clinical benefits, such as its patented, non-preserved, twice-daily dosed prescription drug, make it an attractive option for both patients and healthcare providers.
The market access wins for VEVYE® come at a time when the dry eye disease market is experiencing significant growth. According to a 2020 report from Market Scope, DED affects more than 38 million Americans, with 92% of this patient population remaining un- or under-treated due to limited efficacy and poor tolerability of existing prescription and non-prescription choices. VEVYE®'s strategic market moves indicate a dedication to improving eye health and quality of life for millions of seniors requiring reliable treatment options for dry eye disease.
In conclusion, Harrow's market access wins for VEVYE® represent a significant milestone in the company's mission to address the unmet needs of patients suffering from chronic DED. With its innovative technology, broad insurance coverage, and strategic formulary placements, VEVYE® is well-positioned to capture a substantial share of the growing dry eye disease market. As the prevalence of DED continues to rise, particularly among seniors, Harrow's commitment to accessibility and efficacy will be crucial in meeting the demands of this expanding patient population. Investors should take note of Harrow's strategic moves and the potential for VEVYE® to drive the company's growth in the eye care market.
VEVYE®'s market access wins include key formulary placements in major 2025 Medicare Part D prescription drug programs, starting January 1, 2025. These placements, secured with major plan sponsors such as Express Scripts, Cigna, Kaiser Permanente, and CVS Caremark, represent over 25 million Medicare Part D beneficiaries. Additionally, VEVYE® has achieved 100% coverage across U.S. Medicaid programs and 60% of commercial insurance plans, further expanding its accessibility to patients.
The inclusion of VEVYE® in these formularies is a testament to Harrow's commitment to ensuring that patients, regardless of their insurance type, have access to effective treatment for chronic DED. With 67 million Medicare beneficiaries in the U.S., including 54 million with Medicare Part D prescription coverage, and the prevalence of DED rising with age, the need for accessible, efficient treatments is substantial. VEVYE®'s unique clinical benefits, such as its patented, non-preserved, twice-daily dosed prescription drug, make it an attractive option for both patients and healthcare providers.
The market access wins for VEVYE® come at a time when the dry eye disease market is experiencing significant growth. According to a 2020 report from Market Scope, DED affects more than 38 million Americans, with 92% of this patient population remaining un- or under-treated due to limited efficacy and poor tolerability of existing prescription and non-prescription choices. VEVYE®'s strategic market moves indicate a dedication to improving eye health and quality of life for millions of seniors requiring reliable treatment options for dry eye disease.
In conclusion, Harrow's market access wins for VEVYE® represent a significant milestone in the company's mission to address the unmet needs of patients suffering from chronic DED. With its innovative technology, broad insurance coverage, and strategic formulary placements, VEVYE® is well-positioned to capture a substantial share of the growing dry eye disease market. As the prevalence of DED continues to rise, particularly among seniors, Harrow's commitment to accessibility and efficacy will be crucial in meeting the demands of this expanding patient population. Investors should take note of Harrow's strategic moves and the potential for VEVYE® to drive the company's growth in the eye care market.
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