Viatris Reports Fourth-Quarter and Full-Year 2025 Financial Results

Core Insights - Viatris reported strong financial results for Q4 and full year 2025, with total revenues of $3.7 billion for Q4 and $14.3 billion for the full year, meeting or exceeding financial guidance across all key metrics [1][2][3] - The company completed an enterprise-wide strategic review, expecting to deliver $650 million in total cost savings while reinvesting up to $250 million over the next three years [1][3] - Viatris anticipates regulatory decisions for six product candidates in 2026 and multiple important pipeline milestones, positioning itself for sustainable growth [1][3] Financial Performance - Q4 2025 total revenues increased by 5% compared to Q4 2024, while full year revenues decreased by 3% compared to 2024 [2][3] - U.S. GAAP net loss for Q4 2025 was $340.1 million, a 34% improvement from a loss of $516.5 million in Q4 2024 [2][3] - Adjusted net earnings for Q4 2025 were $658.7 million, with adjusted EPS of $0.57, reflecting a 6% increase from Q4 2024 [2][3] Strategic Initiatives - The company initiated restructuring activities as part of its strategic review, expecting a global workforce reduction of up to 10% [3][6] - Total pre-tax charges related to restructuring are estimated between $700 million and $850 million, with anticipated savings of $600 million to $700 million once fully implemented [3][6] - Viatris plans to provide a balanced capital allocation approach for 2026, returning over $1 billion to shareholders in 2025 [1][3] Product Pipeline and Regulatory Updates - The company generated approximately $78 million in new product revenues in Q4 2025, with expectations of $450 million to $550 million in new product revenues for 2026 [2][3] - Viatris has several regulatory submissions under review, including a J-NDA for pitolisant in Japan and an NDA for a low-dose estrogen weekly patch in the U.S. [2][6] - The FDA has assigned a PDUFA goal date of July 30, 2026, for the low-dose estrogen patch and October 17, 2026, for MR-141 [6] Market Performance - Generics net sales were impacted by competition in North America and government price regulations in Japan, while brands net sales showed strength in Greater China and Emerging Markets [2][3] - The company expects continued operational growth driven by its base business and net cost savings in 2026 [1][3]