Canonsburg, Pennsylvania-based Viatris Inc. (VTRS) is a healthcare company that provides a diverse portfolio of branded, generic, and complex medicines to patients. Valued at a market cap of $13.4 billion, the company's product offerings span major therapeutic categories such as cardiovascular, oncology, central nervous system, and infectious disease treatments. Companies worth $10 billion or more are typically classified as “large-cap stocks,” and Viatris fits the label perfectly, with its market cap ex ...

Viatris has signed definitive agreements for the sale of its equity stake in Biocon Biologics to Biocon for $815m. Viatris will sell all of its convertible preferred equity in Biocon Biologics. The deal value comprises $415m in newly issued Biocon equity shares and $400m in cash. The newly issued shares will be listed and traded on the National Stock Exchange of India. They will be subject to a lock-up period of six months, and the overall transaction value will be adjusted for applicable taxes. The agr ...

Core Viewpoint - Viatris Inc. has entered into definitive agreements with Biocon Limited for the sale of its equity stake in Biocon Biologics, valued at $815 million, which includes $400 million in cash and $415 million in equity shares of Biocon [1][2] Group 1: Transaction Details - Biocon will acquire all of Viatris' convertible preferred equity in Biocon Biologics for a total consideration of $815 million [1][2] - The transaction consists of $400 million in cash and $415 million in newly issued equity shares of Biocon, which will be listed on the National Stock Exchange of India [2] - The shares are subject to a six-month lock-up period, and the transaction value will be subject to related taxes [2] Group 2: Strategic Implications - This agreement allows Viatris to monetize its equity stake in Biocon Biologics and regain access to the global biosimilars market, providing significant additional optionality for future growth [2] - The transaction accelerates the expiration of biosimilars non-compete restrictions previously placed on Viatris in 2022, which will expire immediately for all ex-U.S. markets and in November 2026 for U.S. markets [2] Group 3: Timeline and Advisors - The transaction is expected to close in Q1 2026, subject to the satisfaction of closing conditions [2] - Citi is acting as the financial advisor, while Cravath, Swaine & Moore LLP and Khaitan & Co. are serving as legal advisors to Viatris [3]

Core Insights - Viatris is viewed as three distinct businesses: a global generics footprint, established products from the Upjohn acquisition, and a growing innovative segment [2] Group 1 - The global generics business includes products from Mylan and features iconic brands such as Lipitor, Norvasc, Xanax, Viagra, and Celebrex [2] - The company faced self-inflicted challenges earlier in the year, particularly with the Indore situation [3]

Summary of Viatris Conference Call Company Overview - **Company**: Viatris - **Business Segments**: - Global generics footprint (originating from Mylan) - Established products (notable brands include Lipitor, Norvasc, Xanax, Viagra, Celebrex from Upjohn acquisition) - Growing innovative segment [2][3] Core Points and Arguments - **Strategic Review**: Viatris is undergoing an enterprise-wide strategic review to assess its structure and cost efficiency, aiming for sustainable revenue and earnings growth beyond 2026 [4][20] - **Financial Performance**: - The company has returned over $1 billion to shareholders through dividends and share repurchases this year [3] - Anticipates approximately $500 million in new revenues annually from the base business, with a net growth of around $200 million after accounting for losses and price declines [8] - Internal expectations for revenue growth are higher than market estimates, with a goal to achieve continuous earnings growth over the next three to five years [7][26] - **Operating Leverage**: The company aims to improve operating leverage, targeting a growth profile shift from 1% to 3-5% [9][10] Pipeline and Product Development - **Innovative Assets**: Viatris is focusing on developing innovative products, including fast-acting meloxicam, which shows a faster onset of action compared to competitors [38][39] - **CNS Assets in Japan**: The acquisition of Aculys added CNS assets to Viatris' portfolio, with a strategic focus on growing revenues in the challenging Japanese market [32][34] - **Upcoming Launches**: The company is preparing for the launch of several products, including meloxicam and antiplatelet drugs, with significant market potential [46][63] Market Dynamics and Challenges - **External Challenges**: The company has faced external challenges such as tariffs, policy changes, and FDA regulations, which have impacted operations [2][3] - **Cost Structure Review**: Viatris is reviewing its cost structure post-merger and divestitures, aiming for significant cost savings while ensuring that these savings are sustainable [20][21] Investment and Capital Allocation - **Capital Deployment**: Viatris generates approximately $2 billion in free cash flow annually, with plans to allocate capital evenly between shareholder returns and business development [28][29] - **Focus on High-Margin Assets**: The company is looking to acquire high-margin, revenue-generating assets, particularly in the U.S. and Japan [35] Other Important Insights - **Market Positioning**: Viatris is positioning its innovative products as differentiated solutions in the market, with a focus on addressing unmet medical needs [39][63] - **Long-Term Vision**: The management emphasizes a long-term vision for growth, with a commitment to maintaining a strong base business while investing in innovation [6][26] This summary encapsulates the key points discussed during the Viatris conference call, highlighting the company's strategic direction, financial performance, product pipeline, and market challenges.

Question-and-Answer SessionSo I'm going to fire away with lots of questions, and there's lots to talk about. But just starting at a high level, I wanted to get your thoughts on capital deployment. Particularly interested in how aggressively you will look to pursue brand assets. That's been an increasingly visible theme at the company. And how do you balance that versus prioritizing the return of capital to shareholders?Theodora MistrasChief Financial Officer Thanks, David. It's great to be here. So thanks f ...

Viatris (NasdaqGS:VTRS) FY Conference December 02, 2025 08:30 AM ET Company ParticipantsDoretta Mistras - CFOPhilippe Martin - Chief R&D OfficerConference Call ParticipantsDavid Amsellem - Senior Research AnalystDavid AmsellemOkay, good morning, everyone. Let's kick things off. Welcome to the Piper Sandler Healthcare Conference. This is David Amsellem from the Biopharma Research Team, and we're delighted to have Viatris with us. Lots to talk about. We have Doretta Mistras, CFO, and Philippe Martin, Chief R& ...

Core Insights - During market turbulence, investors often seek dividend-yielding stocks, which typically have high free cash flows and offer substantial dividends [1] Group 1: CVS Health Corp (NYSE:CVS) - CVS Health has a dividend yield of 3.31% [7] - Truist Securities analyst David Macdonald maintained a Buy rating and raised the price target from $92 to $95 on October 30, 2025, with an accuracy rate of 69% [7] - Morgan Stanley analyst Erin Wright maintained an Overweight rating and increased the price target from $82 to $89 on October 14, 2025, with an accuracy rate of 75% [7] - Recent news includes the appointment of David Joyner as Chair of the board of directors on November 20 [7] Group 2: Viatris Inc (NASDAQ:VTRS) - Viatris has a dividend yield of 4.49% [7] - Truist Securities analyst Srikripa Devarakonda initiated coverage with a Buy rating and a price target of $15 on October 15, 2025, with an accuracy rate of 67% [7] - Goldman Sachs analyst Matt Dellatorre initiated coverage with a Neutral rating and a price target of $10 on June 6, 2025, with an accuracy rate of 69% [7] - Recent news highlights Viatris posting upbeat earnings for the third quarter on November 6 [7] Group 3: Bristol-Myers Squibb Co (NYSE:BMY) - Bristol-Myers Squibb has a dividend yield of 5.04% [7] - Citigroup analyst Andrew Baum maintained a Neutral rating and reduced the price target from $48 to $45 on November 17, 2025, with an accuracy rate of 72% [7] - Wells Fargo analyst Mohit Bansal maintained an Equal-Weight rating and cut the price target from $62 to $53 on April 28, 2025, with an accuracy rate of 71% [7] - Recent news includes the European Commission's approval for expanding the use of CAR T Cell Therapy Breyanzi for Relapsed or Refractory Mantle Cell Lymphoma on November 24 [7]

Summary of Viatris 2025 Conference Call Company Overview - **Company**: Viatris (NasdaqGS: VTRS) - **Event**: Jeffries London Healthcare Conference - **Date**: November 18, 2025 Key Points Industry and Company Progress - **2025 Overview**: The year has been characterized by both challenges and significant progress, including strong commercial execution across multiple geographies [2][4] - **Pipeline Success**: Five out of six phase three studies were positive, with launches expected in 2026 and beyond [2][4] - **Capital Return**: Approximately $500 million in share buybacks completed, with over $1 billion anticipated in total capital return to shareholders for 2025 [3][4] Financial Strategy - **Cost Review**: An enterprise-wide strategic review is underway to identify cost savings and ensure the right organizational structure post-merger [4][6] - **Cost Savings**: Expected meaningful savings from the review, with a majority falling to the bottom line and a portion reinvested for growth [10][7] Regulatory and Operational Updates - **FDA Inspection**: Product reinspection by the FDA is anticipated in the first half of 2026, with over 90% of remediation completed [11][12] - **Manufacturing Strategy**: Efforts are being made to qualify other plants and find third-party vendors to ensure product supply regardless of inspection timing [12] Business Development and Capital Allocation - **Balanced Approach**: The capital allocation strategy emphasizes a balance between dividends, share buybacks, and investment in growth assets [13][14] - **Acquisition Focus**: Interest in in-market, high-margin revenue assets, with recent acquisitions in Japan to enhance the portfolio [14][16] Pipeline Highlights - **Upcoming Products**: Excitement around fast-acting meloxicam and Xulane low-dose patch, with launches expected in 2026 [18][19] - **Sotagliflozin**: Currently being registered globally, with strong enthusiasm noted for its potential [19][20] - **Market Opportunity**: The acute pain market in the U.S. is approximately 80 million cases, with a significant portion currently treated with opioids [26][27] Competitive Landscape - **Differentiation**: Fast-acting meloxicam is positioned as a unique offering with a significant opioid-sparing effect, differentiating it from competitors [20][26] - **Presbyopia Market**: Viatris is optimistic about its asset for Presbyopia, highlighting a favorable safety profile compared to competitors [34][35] Revenue Projections - **New Product Revenue**: Anticipated new product revenue for 2026 is projected between $450 million and $550 million, driven by recent approvals and upcoming launches [37][40] - **Overall Growth**: 2026 is expected to be a strong year for revenue growth, supported by both new product launches and a stable base business [42] Conclusion - **Outlook**: Viatris is preparing for a period of sustained growth, with a focus on leveraging its diverse portfolio and geographic presence to capitalize on upcoming opportunities in 2026 and beyond [4][42]

Core Insights - Investors are increasingly turning to dividend-yielding stocks during market turbulence, favoring companies with high free cash flows that offer substantial dividends [1] Company Summaries Pfizer Inc (NYSE:PFE) - Dividend Yield: 6.67% - Morgan Stanley analyst Terence Flynn maintained an Equal-Weight rating and reduced the price target from $33 to $32 as of October 10, 2025, with an accuracy rate of 67% [7] - B of A Securities analyst Tim Anderson kept a Neutral rating and increased the price target from $28 to $30 on October 3, 2025, with an accuracy rate of 66% [7] - Recent News: Pfizer completed the acquisition of Metsera, Inc. on November 13 [7] DENTSPLY SIRONA Inc (NASDAQ:XRAY) - Dividend Yield: 5.84% - William Blair analyst Brandon Vazquez downgraded the stock from Outperform to Market Perform on November 7, 2025, with an accuracy rate of 68% [7] - UBS analyst Kevin Caliendo maintained a Buy rating but cut the price target from $24 to $23 on October 28, 2025, with an accuracy rate of 67% [7] - Recent News: Dentsply Sirona reported weaker-than-expected third-quarter earnings and lowered guidance on November 6 [7] Viatris Inc (NASDAQ:VTRS) - Dividend Yield: 4.40% - Goldman Sachs analyst Matt Dellatorre initiated coverage with a Neutral rating and a price target of $10 on June 6, 2025, with an accuracy rate of 68% [7] - Piper Sandler analyst David Amsellem reiterated a Neutral rating and reduced the price target from $14 to $10 on March 5, 2025, with an accuracy rate of 78% [7] - Recent News: Viatris reported better-than-expected quarterly earnings on November 6 [7]