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NASHVILLE, Tenn., November 12, 2024--(BUSINESS WIRE)--Harrow (Nasdaq: HROW), a leading North American eyecare pharmaceutical company, today announced its first major market access wins in the 2025 Medicare Part D Prescription Drug Program. Starting January 1, 2025, VEVYE will be included in key formularies managed by major plan sponsors such as Express Scripts, Cigna, Kaiser Permanente, and CVS Caremark. In the aggregate, these sponsors represent over 25 million Medicare Part D beneficiaries.
In addition to Medicare Part D, VEVYE has achieved broad coverage across other major insurance programs, including 100% of U.S. Medicaid programs and 60% of commercial insurance coverage. This breadth of coverage underscores Harrow’s commitment to ensuring that patients, regardless of their insurance type, have access to effective treatment for chronic dry eye disease (DED), a condition that affects millions of Americans and is especially impactful to older adults.
"Medicare access is essential for VEVYE’s continued successful progression as a preferred dry eye disease prescription choice, and we’re thrilled that we’ve secured these initial Medicare Part D formulary coverages – including with some of the largest 2025 Medicare Part D payers," said Mark L. Baum, Chairman and Chief Executive Officer of Harrow. "For too long, Medicare beneficiaries have lacked an accessible, effective, and highly tolerable dry eye treatment. With 67 million Medicare beneficiaries in the U.S., including the 54 million with Medicare Part D prescription coverage, there is a substantial need for the unique clinical benefits that VEVYE offers. The prevalence of DED rises with age, and seniors face an increased risk for this chronic condition, affecting their comfort, vision, and overall quality of life. With this expanded access, we can better serve Medicare beneficiaries by improving their eye health, independence, and quality of life."
About VEVYE
VEVYE® (cyclosporine ophthalmic solution) 0.1%, a patented, non‑preserved, twice-daily (BID) dosed prescription drug based on a "water‑free" semifluorinated alkane eyedrop technology, is uniquely dispensed in a 10 microliter drop and is the first and only cyclosporine‑based product indicated for treating both the signs and symptoms of dry eye disease (DED).
About Dry Eye Disease
Dry eye disease (DED) is a common condition that occurs when the eyes do not produce enough tears or when the tears evaporate too quickly, and it is often associated with chronic inflammation. Untreated DED can lead to discomfort such as stinging, burning or blurry vision, and chronic DED can interfere with daily activities like reading and using a computer. More serious consequences include increased risk of eye infections and damage to the surface of the eye, which can potentially result in serious vision problems and even loss of sight. Causes of dry eye are varied and can include aging, certain medications, medical conditions, or environmental factors such as increased screen time and exposure to pollutants, all of which are contributing to a forecast of continued significant increase in DED. According to a 2020 report from Market Scope, DED affects more than 38 million Americans. In addition, 92% of this patient population remains un- or under-treated due to limited efficacy and poor tolerability of existing prescription and non-prescription choices.1