Viatris Inc Ord Shs Stock Price, News & Analysis

Viatris Inc. (NASDAQ: VTRS) has appointed Scott A. Smith and Elisha W. Finney to its board of directors, succeeding retiring members Neil Dimick and Ian Read. Scott Smith, formerly President at Celgene, brings extensive experience in the biotechnology sector, while Finney has a strong financial background from her tenure at Varian Medical Systems. Both new directors are expected to enhance Viatris' strategy for growth and innovation in the pharmaceutical sector. The changes come as the company prepares to advance to its second phase post-Combination in November 2020.

Viatris Inc. (NASDAQ: VTRS) will participate in the 41st Annual J.P. Morgan Healthcare Conference on January 11, 2023, in San Francisco. CEO Michael Goettler, President Rajiv Malik, and CFO Sanjeev Narula will represent the company. A presentation followed by a fireside chat is scheduled for 3 p.m. PST / 6 p.m. EST. Interested parties can access a live webcast at investor.viatris.com, with an archived version available later. Viatris empowers global health through access to medicines and innovative solutions.

On December 14, 2022, Viatris (NASDAQ: VTRS) announced a $1 million donation to enhance healthcare access, food security, and water stewardship worldwide. The contributions, allocated evenly to Direct Relief, World Central Kitchen, WaterAid, and World Food Program USA, align with the company's commitment to the UN Sustainable Development Goals. CEO Michael Goettler emphasized the importance of addressing global challenges such as the COVID-19 pandemic, climate change, and access disparities. This initiative reflects Viatris' mission to empower global health and well-being.

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.