Welcome to our dedicated page for Viatris news (Ticker: VTRS), a resource for investors and traders seeking the latest updates and insights on Viatris stock.
Viatris Inc. (NASDAQ: VTRS) is a global healthcare company that bridges the gap between generics and branded medicines, aiming to address healthcare needs more comprehensively worldwide. Formed in November 2020 by the merger of Upjohn, a subsidiary of Pfizer, and Mylan, Viatris leverages its vast portfolio to provide high-quality medications to approximately 1 billion patients annually across more than 165 countries. The company’s operations span 10 major therapeutic areas, with a strategic focus on dermatology, ophthalmology, and gastroenterology.
Viatris boasts an extensive product lineup, including around 1,400 generic pharmaceuticals and several branded medications like Lipitor, Norvasc, Lyrica, and Viagra. Generics and biosimilars form about 40% of its sales, while legacy products contribute to the remaining 60%. The company is also a key supplier of antiretroviral therapies, which nearly 50% of HIV/AIDS patients in developing countries rely on.
In 2023, Viatris continued to make strides with significant developments. It announced positive results from the YUPELRI® Phase III clinical trial in China for COPD treatment, paving the way for regulatory approval anticipated in mid-2024. The company also entered a substantial R&D collaboration with Idorsia Ltd, acquiring global rights to two promising Phase 3 assets: selatogrel, for acute myocardial infarction, and cenerimod, for systemic lupus erythematosus. Additionally, Viatris launched RYZUMVI™, an FDA-approved eye drop for reversing pharmacologically-induced dilation, further expanding its ophthalmology portfolio.
Financially, Viatris demonstrated robust performance with consistent operational revenue growth. The company reported a strong 2023, meeting its financial guidance, and executed strategic initiatives like the divestiture of its Women's Healthcare Business and API business in India. Viatris also maintained a solid cash flow, allowing it to return capital to shareholders through dividends and share repurchases, reinforcing its commitment to shareholder value.
Headquartered in the U.S., with major centers in Pittsburgh, Shanghai, and Hyderabad, Viatris employs around 30,000 people dedicated to advancing global health. For more information, visit viatris.com.
On December 14, 2022, Viatris Inc. (NASDAQ: VTRS) announced that its emissions reduction targets received approval from the Science Based Targets initiative (SBTi). The company aims to reduce absolute scope 1 and 2 greenhouse gas emissions by 42% by 2030, from a 2020 baseline, and absolute scope 3 emissions by 25% in the same timeframe. Viatris emphasized its commitment to sustainability, aligning its operations with climate science while ensuring reliable medicine supply. This initiative is part of Viatris' broader sustainability goals established earlier this year.
Viatris Inc. (NASDAQ: VTRS) has finalized its deal with Biocon Biologics, receiving a $2 billion cash payment and $1 billion in convertible preferred equity, amounting to a 12.9% stake in Biocon Biologics. This transaction marks a strategic move towards becoming a global leader in biosimilars. Financial forecasts suggest a decline of $80 million in revenues and $20 million in adjusted EBITDA for the year ending December 31, 2022, due to the transaction costs of approximately $400 million. The company plans to use proceeds to reduce debt and fund acquisitions.
Viatris Inc. (NASDAQ: VTRS) has won three categories at the 2022 LMG Life Sciences Americas Awards, including U.S. In-House Legal Team of the Year for Intellectual Property Litigation. This recognition follows significant victories in patent litigation, particularly for generic Tecfidera and Lantus, along with establishing new law on venue for such cases. Viatris has consistently achieved recognition for its legal team and corporate responsibility, emphasizing its commitment to delivering affordable medicines globally.
Viatris Inc. (NASDAQ: VTRS) and Kindeva Drug Delivery have achieved a pivotal court victory, with the U.S. District Court for the Northern District of West Virginia declaring AstraZeneca's Symbicort® patent (U.S. Patent No. 10,166,247) invalid. The ruling was based on two grounds: lack of written description and lack of enablement. This decision enables Viatris to progress with FDA-approved generic versions, enhancing patient access to essential medications. This marks the fourth invalidation of AstraZeneca's Symbicort patents, supporting Viatris's commitment to providing affordable healthcare solutions.
Viatris Inc. (NASDAQ: VTRS) announced plans to create an ophthalmology franchise by acquiring Oyster Point Pharma and Famy Life Sciences for $700-$750 million in cash. The acquisitions aim to close in Q1 2023, expecting to add over $1 billion in net sales and $500 million in adjusted EBITDA by 2028. The company also anticipates that these transactions, along with a stock repurchase program, will be accretive to adjusted EPS for 2023. Viatris reaffirmed a pre-tax proceeds target of up to $9 billion from the Biocon transaction and non-core asset divestitures.
Viatris reaffirms its 2022 guidance for total revenues, adjusted EBITDA, and free cash flow, reporting solid operating momentum despite foreign exchange challenges and inflation impacts. Total revenues stand at $4.08 billion, with U.S. GAAP net earnings of $354 million and adjusted EBITDA of $1.50 billion. The company generated $869 million in net cash from operating activities and $765 million in free cash flow. Year-to-date, Viatris has paid down $2.1 billion of debt ahead of schedule and declared a quarterly dividend of $0.12 per share.
Viatris Inc. (NASDAQ: VTRS) will announce its financial results for Q3 2022 on November 7, 2022, at 8:30 a.m. ET. Key executives, including Executive Chairman Robert J. Coury and CEO Michael Goettler, will host a webcast reviewing the quarterly results and an update regarding the February 28 Investor Event. Investors can access the live call via investor.viatris.com or by calling provided numbers. Viatris, established in November 2020, focuses on providing global healthcare solutions through its extensive portfolio of approved products.
Viatris Inc. (NASDAQ: VTRS) will participate in the BofA Global Research Global Healthcare Conference on September 15, 2022, in London. The event will feature a fireside chat with CEO Michael Goettler, President Rajiv Malik, and CFO Sanjeev Narula, scheduled for 4:45 p.m. BST / 11:45 a.m. ET. A live webcast will be available at investor.viatris.com, along with an archived version post-event. Viatris, formed in November 2020, aims to enhance global health by providing access to over 1,400 medicines.
Viatris reported total revenues of $4.12 billion with U.S. GAAP net earnings at $314 million and adjusted EBITDA of $1.48 billion. The company generated U.S. GAAP net cash provided by operating activities of $803 million and free cash flow of $719 million in the first half of 2022. Despite facing foreign exchange headwinds, it reaffirms guidance for adjusted EBITDA and free cash flow, while revising total revenues guidance to reflect currency impacts. A quarterly dividend of $0.12 per share was declared, and the company paid down $1.5 billion in debt with a target of $2 billion for the full year.
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