Viatris Inc. reported its Q2 2024 financial results and announced the completion of all previously stated divestitures with the closing of its Over-The-Counter business. Even though the Q2 earnings outpaced estimates, sales missed the target. Aside from this, the U.S. Department of Justice will no longer consider Mylan, a Viatris company, a subject of the generic drug industry antitrust investigation, hence the Q2 earnings surpassed expectations. Furthermore,
Dr. Rogerio Vivaldi Coelho has joined the company's Board of Directors. Meanwhile, there have been selling activities, as Viatris' Chief Legal Officer and the President of Greater China sold significant shares. The company also presented an abstract on
Cenerimod at a major Rheumatology Congress and participates in the Jeffries Global Healthcare Conference.
Viatris has reaffirmed its 2023 Adjusted EBITDA and Free Cash Flow Guidance Ranges. Moreover, despite observing a decline in its Q4 generic, the company still managed to meet its 2023 financial targets, evident by an increased dividend, and is geared towards growth in 2024. However, the FDA declined to approve Viatris's injection for multiple sclerosis. Greenlight decided to repurchase Viatris. Although expansion is sought in its technical measures and global supply chain, skeptics remain.
Viatris VTRS News Analytics from Wed, 27 Sep 2023 07:00:00 GMT to Wed, 28 Aug 2024 01:56:00 GMT -
Rating 3
- Innovation -2
- Information 8
- Rumor -5
