Viatris Named Fifth on Fortune's Change the World List

Rhea-AI Summary

Viatris Inc. (NASDAQ: VTRS) has been ranked fifth on Fortune's Change the World list, recognizing its positive societal impact through healthcare initiatives. The company was acknowledged for expanding access to HIV medications in low- and middle-income countries via public-private partnerships. Key achievements include introducing a low-cost dolutegravir regimen for $75 per year and a pediatric version at a 75% reduced cost, promoting affordable treatment. Viatris serves over 40% of global HIV patients and emphasizes its commitment to social responsibility and innovative healthcare solutions.

Positive

• Ranked fifth on Fortune's Change the World list for societal impact.
• Introduced a low-cost HIV treatment regimen at $75 per year.
• Launched a pediatric version of dolutegravir, reducing treatment cost by 75% to $120 per year.
• Global supplier of antiretroviral medicines, serving over 40% of HIV patients worldwide.

Negative

• None.

PITTSBURGH, Oct. 11, 2021 /PRNewswire/ -- Viatris Inc. (NASDAQ: VTRS), a new kind of global healthcare company, today announced that Fortune has named the company fifth out of 53 on its Change the World list. The annual ranking showcases companies that have had a positive societal impact through activities that are part of their core business strategy. Viatris is featured on the listing for its work through public-private partnerships to expand access to innovative HIV drugs, particularly in low- and middle-income countries.

"We are honored that Viatris has been named to Fortune's prestigious Change the World list. When we created Viatris nearly a year ago with the vision to see healthcare not as it is, but as it should be, we set out with a strong foundation in corporate social responsibility and a deep commitment to meeting some of the world's most pressing health needs," said Viatris Chief Executive Officer Michael Goettler. "Our efforts around expanding access to innovative HIV medicines is a great example of the positive impact we can make to provide sustainable access to high-quality medicine, regardless of geography or circumstance. Further, we believe our ability to apply this business model to other areas of unmet need, such as biosimilars access globally, is a unique value proposition for the stakeholders we serve." 

Viatris has operated as a catalyst not only to expand access to more affordable versions of existing antiretrovirals (ARVs) through licensing agreements with brand-innovator companies, but also to develop new therapies more suitable for patients in low- and middle-income countries. For example, we:

• Introduced the first low-cost regimen based on dolutegravir, the World Health Organizations' recommended first-line treatment for HIV, for $75 per year for people in low- and middle-income countries.
• Launched a pediatric version of dolutegravir in the form of strawberry-flavored dispersible tablets (Previously, it has been challenging to treat children with HIV because children require special formulations, since they cannot swallow tablets or capsules, and many drugs come with bitter taste that make them hard for kids to take).
• Lowered the cost of treatment for children in low- and middle-income countries by 75% to $120 per year with our pediatric dolutegravir.

"Fortune's recognition of Viatris' contributions to help stem the tide of HIV/AIDS is humbling validation of the hard work that began 15 years ago when Mylan acquired Matrix and that has been sustained by the many passionate, focused and dedicated employees serving this patient community," said Viatris President Rajiv Malik. "Today, we are proud to say we are the world's largest supplier of antiretroviral medicines for HIV and more than 40% of people on treatment for HIV around the world use a Viatris product, the vast majority of which are in low- or lower-middle-income countries. This level of access would not be possible without innovative partnerships with a wide variety of organizations that share our access vision. Our being named on Fortune's Change the World list is much more than Viatris – it's a testament to the collaboration of researchers, funders, companies, NGOs, non-profits, policymakers and scientists working together to empower people worldwide to live healthier at every stage of life."

View the entire 2021 Change the World list on Fortune's website.

Additional Resources:

• Viatris 2020 Sustainability Report
• Viatris 2020 Sustainability Report Fact Sheet
• Viatris Corporate Social Responsibility Web Resource

Fortune Change the World List Methodology
The Change the World list is developed in collaboration with the Shared Value Initiative. This final list was selected and ranked by the editors of FORTUNE based on the magazine's own reporting and analysis. View the complete methodology here.

About Viatris 
Viatris Inc. (NASDAQ: VTRS) is a new kind of healthcare company, empowering people worldwide to live healthier at every stage of life. We provide access to medicines, advance sustainable operations, develop innovative solutions and leverage our collective expertise to connect more people to more products and services through our one-of-a-kind Global Healthcare Gateway^®. Formed in November 2020, Viatris brings together scientific, manufacturing and distribution expertise with proven regulatory, medical and commercial capabilities to deliver high-quality medicines to patients in more than 165 countries and territories. Viatris' portfolio comprises more than 1,400 approved molecules across a wide range of therapeutic areas, spanning both non-communicable and infectious diseases, including globally recognized brands, complex generic and branded medicines, a growing portfolio of biosimilars and a variety of over-the-counter consumer products. With a global workforce of more than 40,000, Viatris is headquartered in the U.S., with global centers in Pittsburgh, Shanghai and Hyderabad, India. Learn more at viatris.com and investor.viatris.com, and connect with us on Twitter at @ViatrisInc, LinkedIn and YouTube. 

Forward-Looking Statements
This press release includes statements that constitute "forward-looking statements." These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward looking statements may include statements that we believe our ability to apply this business model to other areas of unmet need, such as biosimilars access globally, is a unique value proposition for the stakeholders we serve. Because forward-looking statements inherently involve risks and uncertainties, actual future results may differ materially from those expressed or implied by such statements. Factors that could cause or contribute to such differences include, but are not limited to: the potential impact of public health outbreaks, epidemics and pandemics, including the ongoing challenges and uncertainties posed by the COVID-19 pandemic; the integration of Mylan N.V. and Pfizer Inc.'s Upjohn business (the "Upjohn Business"), which combined to form Viatris (the "Combination") and the implementation of our global restructuring initiatives being more difficult, time consuming or costly than expected, or being unsuccessful; the ability to achieve expected benefits, synergies and operating efficiencies in connection with the Combination or its restructuring initiatives within the expected timeframe or at all; actions and decisions of healthcare and pharmaceutical regulators; changes in healthcare and pharmaceutical laws and regulations in the U.S. and abroad; any regulatory, legal or other impediments to Viatris' ability to bring new products to market, including but not limited to "at-risk" launches; Viatris' or its partners' ability to develop, manufacture and commercialize products; the scope, timing and outcome of any ongoing legal proceedings and the impact of any such proceedings; any significant breach of data security or data privacy or disruptions to our information technology systems; risks associated with international operations, including our operations in China; the ability to protect intellectual property and preserve intellectual property rights; changes in third-party relationships; the effect of any changes in Viatris' or its partners' customer and supplier relationships and customer purchasing patterns; the impacts of competition; changes in the economic and financial conditions of Viatris or its partners; uncertainties and matters beyond the control of management; and the other risks Viatris' filings with the Securities and Exchange Commission. Viatris routinely uses its website as a means of disclosing material information to the public in a broad, non-exclusionary manner for purposes of the SEC's Regulation Fair Disclosure (Reg FD). Viatris undertakes no obligation to update these statements for revisions or changes after the date of this release other than as required by law.

 

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FAQ

What did Viatris achieve on Fortune's Change the World list?

Viatris was ranked fifth on Fortune's Change the World list for its significant societal impact through healthcare initiatives.

How does Viatris expand access to HIV medications?

Viatris expands access through public-private partnerships and by lowering treatment costs for innovative HIV medications.

What is the cost of Viatris' low-cost HIV treatment regimen?

Viatris offers a low-cost HIV treatment regimen for $75 per year for individuals in low- and middle-income countries.

What is the pediatric version of dolutegravir launched by Viatris?

The pediatric version of dolutegravir is a strawberry-flavored dispersible tablet designed for children, which costs $120 per year, a 75% reduction from previous treatments.

What percentage of HIV patients use Viatris products globally?

More than 40% of people receiving treatment for HIV worldwide use products supplied by Viatris.