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 July 3, 2024, Viatris (NASDAQ: VTRS) announced the completion of its Over-the-Counter (OTC) business divestiture to Cooper Consumer Health, marking the substantial conclusion of all planned divestitures. This strategic move aims to simplify the company structure, enhance focus on growth areas, and increase shareholder value. Key transactions include the divestiture of its OTC business, Women's Healthcare business, and Active Pharmaceutical Ingredients (API) business in India. The proceeds will be used to achieve long-term financial goals, support shareholder returns, and invest in innovative assets. CEO Scott A. Smith emphasized the importance of this milestone in reinforcing Viatris' growth trajectory and expanding its product pipeline.
Viatris (NASDAQ: VTRS) announced that the U.S. Department of Justice (DOJ) no longer considers Mylan, a Viatris subsidiary, and its former President, Rajiv Malik, subjects of an antitrust investigation in the generic drug industry. Additionally, the DOJ's Civil Division will not take further action regarding a civil investigative demand on generic drug pricing and sales. Viatris has consistently maintained that Mylan found no evidence of wrongdoing. The company is now focused on defending itself against remaining civil lawsuits related to these matters. More details are available in Viatris' Quarterly Report on Form 10-Q for the quarter ended March 31, 2024.
Viatris (NASDAQ: VTRS), a global healthcare company, has been named to TIME's inaugural World's Most Sustainable Companies 2024 list. This recognition, presented by TIME and Statista, highlights companies excelling in corporate social responsibility across 30 countries. Viatris was assessed on over 20 sustainability indicators, including greenhouse gas emissions and compliance with international standards. Out of 5,000 companies evaluated, the top 500 were selected.
Lina Andersson, Viatris' Head of Global Sustainability, attributed the accolade to the company's commitment to sustainable operations and reliable global medicine supply. Viatris is a U.N. Global Compact signatory and aims to build sustainable access to medicine. The company has also been recognized on various other prestigious lists, including USA TODAY's America's Climate Leaders and Forbes' World's Best Employers. More details can be found in Viatris' 2023 Sustainability Report.
Viatris (NASDAQ: VTRS), a global healthcare company, has been named to TIME's World's Most Sustainable Companies 2024 list. This recognition, presented by TIME and Statista, acknowledges Viatris' commitment to sustainable practices and corporate social responsibility. Evaluated on over 20 key performance indicators, including greenhouse gas emissions and compliance with international reporting standards, Viatris stands among the top 500 companies from over 30 countries. This accolade reflects Viatris' efforts to maintain a reliable global supply of medicines and its role as a signatory to the U.N. Global Compact. Other recognitions in 2023 and 2024 include listings on USA TODAY's America's Climate Leaders, 3BL's 100 Best Corporate Citizens, and Forbes' World's Best Employers.
Viatris (NASDAQ: VTRS) is set to announce its Q2 2024 financial results on August 8, 2024, before the U.S. market opens. CEO Scott A. Smith and other executives will hold a webcast at 8:30 a.m. ET the same day to discuss the results. The webcast will be accessible live on Viatris' investor relations website, with a replay available afterward. Investors and the public can also join via phone at 844.308.3344 or 412.317.1896 for international callers.
Viatris (NASDAQ: VTRS), a global healthcare company, announced its participation in the Goldman Sachs 45th Annual Global Healthcare Conference on June 11, 2024, in Miami Beach, Florida. CEO Scott A Smith and other executives will represent the company in a scheduled fireside chat at 9:20 a.m. ET.
Interested parties can access a live webcast of the event at the company’s investor relations website, with an archived version available post-event for a time.
Viatris (NASDAQ: VTRS) announced the appointment of Dr. Rogerio Vivaldi Coelho to its Board of Directors as part of its ongoing Board refreshment efforts. Dr. Vivaldi will join the reestablished Science and Technology Committee. He brings extensive experience from his previous roles, including CEO of Sigilon Therapeutics and executive positions at Bioverativ, Spark Therapeutics, and Genzyme. Viatris' Chair, Melina Higgins, and CEO, Scott A. Smith, expressed confidence in Dr. Vivaldi's ability to contribute significantly to the company's growth strategy and innovative pipeline. Dr. Vivaldi emphasized his alignment with Viatris' global vision and commitment to high-quality medicines.
Viatris (NASDAQ: VTRS), a global healthcare company, will participate in the Jeffries Global Healthcare Conference in New York on June 6, 2024. CEO Scott A. Smith and other executives will represent the company in a fireside chat at 8 a.m. ET.
Interested parties can access a live webcast and an archived version post-event at investor.viatris.com.
Viatris has released its 2023 Sustainability Report, emphasizing its commitment to sustainable access to medicine and community health. The report outlines efforts in four areas: Access and Global Health, Our People, Environment, and Community. Notably, the company sold over 80 billion doses of medicine across 165 countries and reached 90% of low- and lower-middle-income countries (LMICs). Initiatives include the Elevate wellbeing program for employees and a 3.7% reduction in greenhouse gas emissions since 2020. The report also highlights the documentary 'Empathy in Africa,' showcasing Viatris' support for healthcare in South Africa and the establishment of the Rhiza Babuyile Clinic. For more details, visit the company's sustainability report online.
Viatris reported strong first-quarter 2024 financial results, including total revenues of $3.66 billion, U.S. GAAP net earnings of $113.9 million, and adjusted EBITDA of $1.19 billion. The company also reaffirmed its 2024 financial guidance ranges and closed several significant transactions, such as the Idorsia transaction and Women's Healthcare Business divestiture. Additionally, Viatris returned $393 million of capital to shareholders in the form of dividends and share repurchases.
FAQ
What is the current stock price of Viatris (VTRS)?
What is the market cap of Viatris (VTRS)?
What is Viatris Inc.?
What products does Viatris offer?
What are Viatris' key therapeutic areas?
What recent collaborations has Viatris announced?
How did Viatris perform financially in 2023?
Where is Viatris headquartered?
What is YUPELRI®?
What is the significance of RYZUMVI™?
What is the mission of Viatris?
How many people does Viatris employ?
