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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.
Viatris Inc. (NASDAQ: VTRS), a global healthcare company, has been named to Forbes' list of World's Best Employers 2024 for the fourth consecutive year. This recognition, presented by Forbes and Statista, is based on an independent survey of over 300,000 participants across 50 countries.
Andrew Enrietti, Chief People Officer at Viatris, attributed this achievement to the company's focus on its people and strong culture, which prioritizes well-being, inclusivity, diversity, growth opportunities, and work-life balance. The survey assessed employees' willingness to recommend their employer and their reviews of various employment aspects.
This accolade follows Viatris' inclusion in other prestigious lists such as TIME's World's Most Sustainable Companies 2024, USA Today's America's Climate Leaders 2024, and 3BL's 100 Best Corporate Citizens of 2023. The company has also received Great Place to Work® and Top Employers certifications in multiple countries.
Viatris has released its 2023 Sustainability Report, highlighting expanded contractor training initiatives. The company is constructing a new injectable manufacturing facility in Krishnagiri, India, emphasizing safety as a top priority. The project has achieved 2.3 million incident-free man hours and is expected to be completed by early 2025.
Key safety initiatives implemented at the 69,000 square meter site include:
- Establishing a Safety Park for equipment overview
- Providing nearly 8,000 manhours of EHS trainings
- Deploying a "Permit to Work" program with approximately 23,000 permits issued
- Implementing a reward program for exemplary safety performance
Jayesh Thakor, Senior Director - EHS Injectable India at Viatris, expressed pride in the project's safety record and thanked the EHS team, contractors, and project team for their support in achieving safety goals.
Viatris' facility in Komárom, Hungary, has joined the Bird-Friendly Workplace Program in partnership with the Hungarian Ornithological Society. The site, located near the Danube River, encompasses about 4 hectares of diverse habitat for birds and insects. In February 2024, the team installed 50 bird houses and established a breeding wall, expecting to attract about 40 different bird species.
The initiative was proposed by Róbert Klinga, a Quality Control Support Manager and bird enthusiast. The project aims to enhance biodiversity and raise awareness about environmental conservation. As part of the program, Viatris organized a Bird-Friendly Family Day for employees, featuring activities like bird ringing and burrow checks. This effort aligns with Viatris' commitment to sustainability and reducing environmental impact in its operations.
Viatris' 2023 Sustainability Report highlights the company's commitment to workplace health and safety. With a global workforce across various settings, Viatris implements a comprehensive Environmental, Health and Safety (EHS) Management system. Key focus areas in 2023 included enhancing safety culture, process safety, and equipment safety.
Notable achievements include:
- A total recordable incident rate of 0.50, significantly lower than the industry average of 1.6
- Completion of 11 safety climate assessments
- Over 690 safety walks conducted by leadership teams
- Expansion of the VSafety Situational Awareness program
- Enhancement of the Process Safety Global Program
- Conducting approximately 1,840 risk assessments
- Implementation of a world-class Process Safety management assessment program in Indore, India
- Development of an enhanced incident reporting system for non-operations colleagues
These initiatives demonstrate Viatris' ongoing commitment to fostering a culture of health and safety across its global operations.
Viatris Inc. (NASDAQ: VTRS) announced the pricing terms for its subsidiary Utah Acquisition Sub Inc.'s cash tender offer for up to $575,003,000 of its outstanding 3.950% Senior Notes due 2026. As of the Early Tender Date, $1,449,950,000 aggregate principal amount of notes had been validly tendered. The Total Consideration for notes tendered by the Early Tender Date is $995.64 per $1,000 principal amount, which includes a $30 Early Tender Payment.
Due to oversubscription, Viatris expects to accept tendered notes on a pro rata basis. The Maximum Tender Early Settlement Date is anticipated to be September 20, 2024. The offer expires on October 2, 2024, unless extended or terminated earlier. Viatris also announced the satisfaction and discharge of its 1.650% Senior Notes due 2025 and Mylan Inc.'s redemption of its 2.125% Senior Notes due 2025.
Viatris Inc. (NASDAQ: VTRS) announced the early tender results of its subsidiary Utah Acquisition Sub Inc.'s (UAS) cash tender offer for its 3.950% Senior Notes due 2026. UAS has increased the maximum aggregate principal amount from $450,000,000 to $575,003,000. As of the Early Tender Date, $1,449,950,000 in aggregate principal amount was tendered. Due to oversubscription, UAS will accept tenders on a pro rata basis with a proration factor of 39.7%. The Early Tender Payment is $30 per $1,000 principal amount. The Maximum Tender Early Settlement Date is expected to be September 20, 2024. The offer expires on October 2, 2024, unless extended or terminated earlier.
Viatris Inc. (NASDAQ: VTRS) has announced it will release its third quarter 2024 financial results on Thursday, November 7, 2024, before the U.S. financial markets open. Following the release, the company will host a webcast at 8:30 a.m. ET on the same day. CEO Scott A. Smith and other executives will discuss the results during this webcast.
Investors and the public can access the live webcast through the company's investor relations website or by calling specific phone numbers. A replay of the webcast will also be made available on the website for those unable to attend the live event.
Viatris hosted an event through its EmpoWer employee resource group, featuring women leaders sharing experiences of overcoming gender bias in their careers. Yoo-Kyung (Karen) Choi, Head of Compliance for Japan, Australia, New Zealand and South Korea, recalled a childhood incident that motivated her to excel. Rania Gabr, Head of Marketing and Business Excellence for Japan, Australia, New Zealand and Emerging Markets, discussed facing gender-based obstacles in her career progression. Both emphasized the importance of resilience and hard work in achieving success. The event highlighted the global nature of gender inequality and the ongoing efforts to promote women's empowerment in the workplace.
Viatris' 2023 Sustainability Report highlights the company's commitment to patient advocacy and empowerment. The report outlines various collaborations and initiatives undertaken in 2023, including:
- Partnering with Allergy & Anaphylaxis Australia for awareness campaigns and patient education
- Sponsoring the COPD Foundation's Lace up for Lungs campaign in the U.S.
- Supporting the Cystic Fibrosis Foundation and Boomer Esiason Foundation
- Collaborating with multiple sclerosis advocacy associations
- Creating the MyHealthMyLife website for disease awareness
- Partnering with the Active Citizen Network to strengthen patients' voices in health policies
These efforts aim to provide patients and caregivers with access to information, raise awareness, and empower them to actively participate in their healthcare journey.
Viatris Inc. (NASDAQ: VTRS) announced the expiration of cash tender offers for its 1.650% Senior Notes due 2025 and Mylan Inc.'s 2.125% Senior Notes due 2025. $431,981,000 of Viatris Notes and €208,100,000 of Mylan Notes were validly tendered. Holders are expected to receive $977.66 per $1,000 of Viatris Notes and €994.12 per €1,000 of Mylan Notes, plus accrued interest. The settlement date is set for September 16, 2024. Viatris and Mylan intend to satisfy and discharge or redeem any remaining notes. The purchase will be funded with cash on hand. Barclays, Citigroup, and J.P. Morgan acted as lead dealer managers for the tender offers.
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