VTRS Down on Late-Stage Study Failure of Eye Disease Drug

Core Insights - Viatris, Inc. (VTRS) announced that its late-stage study on the ophthalmic ointment MR-139 failed to meet primary endpoints in patients with blepharitis, leading to a 4.21% drop in share price [1][6] - Year-to-date, VTRS shares have decreased by 26.8%, contrasting with a 9% decline in the industry [1] Study Details - The MR-139 study was a randomized, placebo-controlled, double-masked phase III trial involving approximately 477 patients, who self-administered the treatment twice daily for 12 weeks [3] - The primary endpoint of complete resolution of eyelid debris after six weeks was not achieved [3][6] Future Plans - VTRS is evaluating next steps for the MR-139 phase III program, which may involve revising the planned additional study [4][6] - The company is focusing on its ophthalmology portfolio, which includes therapies like Tyrvaya and Ryzumvi, and aims to address unmet needs in anterior segment conditions [4] Portfolio Strengthening - VTRS has established an ophthalmology franchise through acquisitions of Oyster Point Pharma and FamyLife Sciences [6] - The company is restructuring its business following the sale of its biosimilar portfolio and divesting its over-the-counter and Active Pharmaceutical Ingredients businesses in India, as well as its women's healthcare segment, to streamline core operations [7]