Viatris Inc. (VTRS) UBS Global Healthcare Conference (Transcript)

Company and Industry Overview * Company: Viatris Inc. (NASDAQ: VTRS) * Industry: Pharmaceuticals, Healthcare Key Points and Arguments 1. Strategic Pillars: * Diversified and Growing Base Business: Demonstrated year-over-year operational adjusted revenue growth for six consecutive quarters, driven by both brands and generics. [4] * Innovative Pipeline: Executing clinical trials for selatogrel and cenerimod, and entered into an exclusive licensing agreement with Lexicon for sotagliflozin. [8] * Capital Allocation: 50% for business development, 25% for share repurchases, and 25% for dividends. [17] 2. Financial Performance: * Generated strong free cash flow of $866 million in Q3, bringing year-to-date cash flow generation to $1.9 billion. [7] * Repurchased about $1.9 billion of debt in Q3. [6] * Confident in generating $2.3 billion of cash flow on an ongoing basis. [7] 3. New Product Revenue: * On track to achieve $500 million to $600 million of new product revenue for the year. [5] * Pipeline includes generic launches in North America and Europe, as well as key complex generics like glucagon, liraglutide, and iron sucrose. [12] 4. Regulatory Updates: * Nearing the end of regulatory processes for sandostatin LAR, liraglutide, and iron sucrose. [14] * Meeting with FDA for GA Depot in December. [14] 5. Capital Allocation Strategy: * 50% of free cash flow allocated to business development, focusing on supporting the base business and adding innovative assets. [24] * Disciplined approach to evaluating business development opportunities, considering strategic fit, commercial potential, and financial impact. [29] 6. Therapeutic Areas of Focus: * Ophthalmology, GI, dermatology, cardiovascular, and immunology. [53] 7. Geographical Focus: * Europe, Greater China, emerging markets, and JANZ. [55] Additional Important Points * Viatris has a strong global footprint and expertise in both brands and generics. [55] * The company is focused on leveraging its existing infrastructure and capabilities to drive growth. [24] * Viatris is committed to being disciplined and thoughtful in its approach to business development. [29]