Welcome to our dedicated page for Viatris Ord Shs news (Ticker: VTRS), a resource for investors and traders seeking the latest updates and insights on Viatris Ord Shs stock.
Viatris Inc. (Nasdaq: VTRS) is a global healthcare company that regularly issues news on its operations, strategy and pipeline across generics, established brands and innovative medicines. This news page aggregates company announcements, press releases and third-party coverage related to VTRS, giving readers a single place to review the latest corporate developments.
Viatris frequently reports on regulatory milestones in its global pipeline. Recent updates include FDA approval of octreotide acetate for injectable suspension as a generic version of Sandostatin LAR Depot, FDA acceptance of a New Drug Application for a low dose estrogen weekly contraceptive patch, FDA clearance of an IND for the MR‑146 gene therapy candidate in neurotrophic keratopathy, and acceptance of a Japanese New Drug Application for pitolisant in obstructive sleep apnea syndrome. The company also announces progress in Japan and the Asia-Pacific region, such as the acquisition of Aculys Pharma and rights to pitolisant and Spydia nasal spray.
Investors can also find financial and corporate news, including quarterly results, updates to financial guidance, capital return actions like dividends and share repurchases, and information on enterprise-wide strategic reviews. Viatris’ participation in major healthcare and investor conferences, such as the J.P. Morgan Healthcare Conference and other sector events, is typically announced through press releases that are reflected in the news flow.
Additional news items may cover business development and collaborations, such as research agreements to develop engineered bacteriophage products for ophthalmic infections, as well as governance updates, board appointments and changes to corporate bylaws. For anyone tracking VTRS, this page offers a concise view of how Viatris communicates its strategy to strengthen its core portfolio, expand innovative brands and optimize its global structure.
Viatris (NASDAQ: VTRS) has completed its acquisitions of Oyster Point Pharma and Famy Life Sciences, forming a new Eye Care Division. The total acquisition prices were approximately $415 million for Oyster Point Pharma and $280 million for Famy Life Sciences, with both transactions anticipated to generate at least $1 billion in sales by 2028. The new division aims to leverage combined expertise to enhance patient access and solidify Viatris' position in the global eye care market.
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.