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Viatris is a global healthcare company that operates through a diversified portfolio of branded and generic products across various markets. The company is organized into four main business segments: Developed Markets, Greater China, JANZ (Japan, Australia, and New Zealand), and Emerging Markets, with the Developed Markets segment being the largest contributor to its revenue . Viatris offers a wide range of pharmaceuticals, including well-known branded products like Lipitor®, Norvasc®, Lyrica®, and EpiPen® Auto-Injectors, as well as a stable generics segment featuring complex generics such as Wixela and Breyna . The company emphasizes new product launches and continues to invest in its pipeline, particularly in complex injectables and eye care products, to drive future growth .
- Branded Pharmaceuticals - Offers a range of well-known branded medications, including Lipitor®, Norvasc®, Lyrica®, and EpiPen® Auto-Injectors, making up a significant portion of the company's portfolio.
- Generic Pharmaceuticals - Provides a stable selection of generic drugs, including complex generics like Wixela and Breyna, contributing significantly to the company's revenue.
- Developed Markets - Focuses on operations in North America and Europe, contributing the largest share to the company's overall revenue.
- New Product Launches - Drives growth through recent product introductions, such as Breyna™ in the U.S., and continues to expand its offerings.
- Pipeline Investments - Invests in future growth through the development of complex injectables and eye care products.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Scott A. Smith ExecutiveBoard | Chief Executive Officer (CEO) | Director at BioAtla, Inc. | CEO of Viatris since April 1, 2023. Former President of BioAtla and executive at Celgene, where he led the global success of Otezla®. | View Report → |
Dr. Corinne Le Goff Executive | Chief Commercial Officer (CCO) | Board Member at Longboard Pharmaceuticals Inc. | CCO of Viatris since April 15, 2024. Former CEO of Imunon, CCO of Moderna, and senior executive at Amgen and Roche. | |
Theodora Mistras Executive | Chief Financial Officer (CFO) | None | CFO of Viatris since March 1, 2024. Former Managing Director in Healthcare Investment Banking at Citigroup and Goldman Sachs, with over $240 billion in transaction experience. | |
Elisha Finney Board | Director | Director at Mettler-Toledo, ICU Medical, and NanoString Technologies | Director at Viatris since December 29, 2022. Former CFO of Varian Medical Systems with expertise in finance and risk oversight. | |
James M. Kilts Board | Director | Chairman at Advantage Solutions and Simply Good Foods; Founding Partner at Centerview Capital | Director at Viatris since 2020. Former CEO of Gillette and Nabisco, with expertise in corporate governance and M&A. | |
Leo Groothuis Board | Director | Director at Stichting Continuiteit IHC and B.V. Finance Continuiteit IHC | Director at Viatris since May 19, 2023. Former General Counsel at HAL Investments and partner at NautaDutilh, specializing in corporate governance and M&A. | |
Mark Parrish Board | Lead Independent Director and Vice Chairman | Director at Omnicell and Safecor Health; President of International Federation of Pharmaceutical Wholesalers | Lead Independent Director at Viatris since November 16, 2020. Former CEO of Cardinal Health's pharmaceutical distribution business. | |
Melina Higgins Board | Chair of the Board of Directors | Non-Executive Chair at Genworth Financial and Antares Midco Inc.; Member of Women’s Leadership Board at Harvard Kennedy School | Chair of Viatris' Board since November 16, 2020. Former Goldman Sachs partner with expertise in corporate governance, finance, and strategy. | |
Richard Mark Board | Director | Director at Goldman Sachs BDC, Goldman Sachs Private Credit Corp., and Goldman Sachs Middle Market Lending Corp. II | Director at Viatris since 2020. Former Deloitte partner with expertise in finance, risk oversight, and compliance. | |
Rogério Vivaldi Coelho Board | Director | Director at Crinetics Pharmaceuticals | Director at Viatris since June 3, 2024. Former CEO of Sigilon Therapeutics and executive at Bioverativ and Spark Therapeutics, with expertise in rare diseases and global commercialization. | |
W. Don Cornwell Board | Director | Director at AIG; Vice Chairman at Blue Meridian Partners; Trustee at Big Brothers Big Sisters of NYC | Director at Viatris since November 16, 2020. Former CEO of Granite Broadcasting Corporation with expertise in finance, governance, and strategy. |
- You've mentioned confidence in delivering $450 million to $550 million in new product revenue next year, including key products like glucagon, iron sucrose, and liraglutide; can you provide specific guidance on the expected contributions from each of these products and any potential risks that could impact these projections?
- With supply chain delays affecting your ARV products in emerging markets, when do you expect to fully resolve these issues, and what measures are you implementing to prevent similar disruptions in the future?
- Given your leverage target is nearly achieved and the stock is trading at a low multiple, how do you plan to balance capital allocation between share repurchases and business development investments, and what factors will influence a more aggressive approach towards buybacks versus investing in pipeline assets?
- Regarding your recent licensing agreement for sotagliflozin, which is expected to start contributing to revenue around 2027, can you clarify how this aligns with your strategy for near-term growth and what interim milestones investors should watch for?
- With potential generic competition for Symbicort expected next year from competitors like Teva, how do you plan to address the anticipated market share erosion, and what strategies are in place to mitigate the impact on your revenues?
| Customer | Relationship | Segment | Details |
|---|---|---|---|
McKesson Corporation | Wholesaler distributing Viatris products | Developed Markets | 10% of consolidated net sales in 2024 , 11% in 2023 ; part of top three customers representing 29% of accounts receivable (aggregate). |
Cencora, Inc. (formerly AmerisourceBergen) | Wholesaler distributing Viatris products | Developed Markets | 12% of consolidated net sales in 2024 , 10% in 2023 ; part of top three customers representing 29% of accounts receivable (aggregate). |
Cardinal Health, Inc. | Wholesaler distributing Viatris products | Developed Markets | 5% of consolidated net sales in 2024 , 5% in 2023 ; part of top three customers representing 29% of accounts receivable (aggregate). |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Idorsia | 2024 | Viatris acquired development programs and personnel related to selatogrel and cenerimod with an upfront payment of $350 million and up to $2.1 billion in contingent payments; the transaction, valued at $695 million including cash and contingent consideration, grants Viatris worldwide commercialization rights (excluding parts of Asia-Pacific) and expands its portfolio with advanced Phase 3 assets. |
Oyster Point | 2023 | Viatris completed the acquisition of the commercial-stage biopharmaceutical company for approximately $427.4 million in cash (including an $11 per share tender offer and other payments) with additional contingent value rights that expired due to unmet performance metrics; the deal was accounted for as a business combination with specific purchase price allocations for intangibles, inventories, goodwill, and liabilities. |
Famy Life Sciences | 2023 | Viatris acquired the remaining equity of Famy Life Sciences for a total purchase price allocated at $325 million, which included previous investments and involved a definitive agreement struck in November 2022, resulting in assets such as IPR&D of $290 million and goodwill of $89.3 million, and recognized a gain of $18.9 million upon remeasurement. |
Recent press releases and 8-K filings for VTRS.
- Strategic focus: Viatris is streamlining its business through significant divestitures and a shift toward durable, high-growth branded assets, aiming for a robust business model over the next 3-5 years.
- Capital allocation: The company plans to deploy cash flows with a balanced 50% shareholder return and 50% business development, including M&A and near-market transactions.
- Pipeline and clinical updates: Positive data for fast-acting meloxicam and steady enrollment in the Phase III selatogrel trial highlight efforts to offer innovative acute pain treatments that could reduce opioid usage.
- Total revenues reached $3.3 billion with adjusted EBITDA of $923M and adjusted EPS of $0.50, despite a 2% operational decline and a decline from Q1 2024 levels .
- Returned over $450 million to shareholders through share repurchases (exceeding $300 million) and dividends, supported by strong free cash flow .
- Advanced its pipeline with 3 positive Phase III readouts (including fast-acting meloxicam and a novel transdermal patch) alongside progress on 11 Phase III programs and strategic priorities including pipeline expansion and remediation efforts at the Indore facility .
- Recorded a $2.9 billion goodwill impairment charge amid market volatility and outlined strategies to mitigate tariff impacts by bolstering domestic manufacturing .
- Q1 2025 Results: Viatris delivered total revenues in line with expectations and reaffirmed its 2025 outlook amid a volatile environment .
- Pipeline Progress: The company announced three positive Phase 3 data readouts, including fast-acting meloxicam (MR-107A-02) that showed statistically significant pain improvement and a marked reduction in opioid use in herniorrhaphy and bunionectomy patients .
- Efficacy & Safety: Fast-acting meloxicam demonstrated superior pain control versus the opioid arm with a favorable safety profile .
- Regulatory Milestone: Viatris is targeting a New Drug Application submission to the U.S. FDA by end of 2025 .
- Capital Allocation: Over $450 million has been returned to shareholders year-to-date, including more than $300 million in share repurchases, with plans for further allocation .
- Viatris Inc. delivered Q1 2025 financial results with total revenues in line with expectations and reaffirmed its 2025 guidance .
- The company returned over $450 million in capital to shareholders, including more than $300 million in share repurchases, with further capital allocation planned .
- Three positive Phase 3 data readouts advanced Viatris’ pipeline in key treatment areas .
- The XULANE LO Patch Phase 3 study in 1,272 women across the US, Puerto Rico, and Canada met primary efficacy with a Pearl Index of 4.14 and a cumulative pregnancy rate of 3.7% .
- The investigational patch showed a favorable safety profile with mostly mild-to-moderate adverse events and a low detachment rate of 1.3% .
- Viatris plans to submit a New Drug Application to the FDA in the second half of 2025 .
- Viatris Inc. has filed supplemental New Drug Applications to Japan's Ministry of Health, Labor and Welfare for the approval of Effexor SR Capsules (venlafaxine hydrochloride) to treat generalized anxiety disorder (GAD) in adults.
- The filing follows positive Phase 3 study results showing superiority over placebo along with supportive long-term extension study data, potentially addressing an unmet need in Japan for GAD treatment.
- Viatris Inc has established a nationwide settlement framework to resolve opioid-related claims by states, local governments, and Tribes, with potential payments up to $335 million over nine years (annual payments between approximately $27.5 and $40 million).
- The settlement is designed to provide resolution without admitting any wrongdoing, allowing the company to focus on addressing public health challenges and continuing its role in providing medications—including generic naloxone and a buprenorphine/naloxone product—to approximately 1 billion patients annually.
- Operational update: The CEO highlighted that despite recent challenges at the Indore facility, including an FDA 483 report and subsequent import alert, the company's strong operational fundamentals and 7 consecutive quarters of growth remain intact, with remediation efforts over 50% complete and plans for a reinspection midyear.
- Capital allocation strategy: The executives reiterated a robust capital plan, targeting around $500–$650 million in share buybacks alongside dividends to deliver roughly 50% of free cash flow to shareholders, while also allocating capital to business development and debt reduction.
- Strategic and commercial focus: The call also emphasized the integration of new pipeline assets in Phase III and a shift toward smaller, accretive business development deals to bolster revenue and EBITDA, supported by a strong global commercial organization.