Viatris to Move its Investor Event Previously Scheduled for January 7 to no Later Than February 28 When the Company Expects to Report its Fourth Quarter 2021 Results

Rhea-AI Summary

Viatris Inc. (NASDAQ: VTRS) has announced a rescheduling of its investor event from January 7, 2022, to a date no later than February 28, 2022, coinciding with the release of its fourth quarter 2021 results. The company reaffirmed its 2021 financial guidance originally provided on November 8, 2021. During the event, Viatris will present details on its two-phased strategic roadmap, covering financial guidance and metrics for Phase I (2022-2023) and growth catalysts for Phase II (2024 and beyond), including capital allocation priorities and pipeline developments.

PITTSBURGH, Dec. 17, 2021 /PRNewswire/ -- Viatris Inc. (NASDAQ: VTRS) today announced that it will move its investor event previously scheduled for Friday, January 7, 2022 to no later than February 28, 2022 in conjunction with the release of its fourth quarter 2021 results. The Company also reiterated its 2021 financial guidance, previously provided on November 8, 2021.

At its investor event, the Company will provide additional detail on its two-phased strategic roadmap, including:

• For the rest of Phase I—2022 and 2023—the Company will provide specific financial guidance, targets and metrics to complete this phase. The Company will also discuss the substantial cash flows that will be generated over this period to satisfy Phase I capital allocation priorities of returning capital to shareholders and repaying $6.5 billion of debt.
• For Phase II—2024 and beyond—the Company will provide an overview of the catalysts that are expected to drive future growth including laying out the Company's capital allocation priorities for this phase to maximize and further unlock shareholder value during this period. The Company will also be giving specific details of its pipeline and will be providing the inorganic business development priorities the Company will be focusing on through its Global Healthcare Gateway®.

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 approximately 38,000, 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 Viatris will move its investor event previously scheduled for Friday, January 7, 2022 to no later than February 28, 2022 when the Company expects to report its fourth quarter 2021 results; that the Company reiterated its 2021 financial guidance, previously provided on November 8, 2021; that the Company will provide additional details on its two-phased strategic roadmap; for Phase I, the Company will provide specific financial guidance, targets and metrics, and will also discuss the substantial cash flows that will be generated over this period to satisfy Phase I capital allocation priorities of returning capital to shareholders and repaying $6.5 billion of debt; and for Phase II, the Company will provide an overview of the catalysts that are expected to drive future growth including laying out the Company's capital allocation priorities for this phase to maximize and further unlock shareholder value during this period, and will also be giving specific details of its pipeline and will be providing the inorganic business development priorities the Company will be focusing on through its Global Healthcare Gateway®. 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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SOURCE Viatris Inc.

FAQ

When is the rescheduled investor event for Viatris (VTRS)?

The investor event for Viatris, originally set for January 7, 2022, will now take place no later than February 28, 2022.

What financial guidance did Viatris (VTRS) reaffirm?

Viatris reiterated its 2021 financial guidance that was originally provided on November 8, 2021.

What will Viatris (VTRS) discuss at the investor event?

Viatris will discuss its two-phased strategic roadmap and provide specific financial guidance, targets, metrics, and future growth catalysts.

What are the capital allocation priorities for Viatris (VTRS) in Phase I?

Phase I focuses on returning capital to shareholders and repaying $6.5 billion of debt while generating substantial cash flows.

How will Viatris (VTRS) drive future growth after 2024?

In Phase II, Viatris will outline catalysts for growth and detail its capital allocation priorities to maximize shareholder value.