Eton Pharmaceuticals acquired U.S. commercialization rights for HEMANGEOL (propranolol) oral solution from Pierre Fabre Medicament Sas. HEMANGEOL is an Orphan Drug, the only FDA-approved treatment for proliferating infantile hemangioma requiring systemic therapy. Eton paid $14.0 million upfront and will pay an 8% royalty on net sales for the product's patent-protected life. Eton will also purchase approximately $1.5 million of inventory at closing and an estimated $0.7 million in May 2026. The transaction was financed by cash on hand and is expected to be accretive to 2026 earnings. Pierre Fabre will continue U.S. distribution until April 30, 2026, with Eton taking over commercialization on May 1, 2026. HEMANGEOL's 2025 sales were $11.7 million, according to IQVIA data. Eton will integrate HEMANGEOL into its Eton Cares patient support program, offering a $0 co-pay initiative. This acquisition brings Eton's commercial product count to ten, fulfilling a long-held goal.