Viatris Inc.
- Open
- 16.03
- Day high
- 16.13
- Day low
- 15.92
- Prev close
- 15.88
- Volume
- 1.6M
- Mkt cap
- $18.8B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 1.3
- P/S
- 1.3
- Yield
- 1.49%
- Per share
- $0.24
- ▼Insiders net selling -$810K over the last 3 months (0 open-market buys, 1 sale)
- 🏛Institutions mixed (13F)
Viatris Inc. (VTRS) is a Healthcare company listed on NASDAQ. The stock is up 73% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 1 sale (SEC Form 4).
Viatris Inc. (VTRS) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 3 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
VTRS earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $0.52 | $0.59 | +13.5% | $3.5B | +4.8% |
| Feb 26, 2026 | $0.52 | $-0.30 | -156.7% | $3.7B | +5.0% |
| Nov 6, 2025 | $0.62 | $0.67 | +7.9% | $3.8B | +3.8% |
| Aug 7, 2025 | $0.56 | $0.62 | +11.5% | $3.6B | +3.3% |
| May 8, 2025 | $0.49 | $0.50 | +1.6% | $3.3B | +0.6% |
| Feb 27, 2025 | $0.61 | $0.54 | -11.5% | $3.5B | -2.0% |
| Nov 7, 2024 | $0.68 | $0.75 | +10.8% | $3.7B | +0.6% |
| Aug 8, 2024 | $0.68 | $0.69 | +1.8% | $3.8B | +0.4% |
| May 9, 2024 | $0.67 | $0.67 | -0.4% | $3.7B | -0.7% |
| Feb 28, 2024 | $0.67 | $0.61 | -9.0% | $3.8B | -0.8% |
| Feb 27, 2023 | $0.72 | $0.67 | -6.9% | $3.9B | -2.9% |
| Feb 28, 2022 | $0.82 | $0.80 | -2.4% | $4.3B | -0.1% |
VTRS insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 26, 2026 | Campbell Paulofficer: See Remarks | Sell | 50,076 | $16.17 |
| Apr 16, 2026 | Le Goff Corinneofficer: Chief Commercial Officer | Option | 3,644 | — |
| Apr 16, 2026 | Le Goff Corinneofficer: Chief Commercial Officer | Tax | 1,617 | $13.86 |
| Apr 16, 2026 | Le Goff Corinneofficer: Chief Commercial Officer | Option | 39,344 | — |
| Apr 16, 2026 | Le Goff Corinneofficer: Chief Commercial Officer | Tax | 17,450 | $13.86 |
| Apr 16, 2026 | Le Goff Corinneofficer: Chief Commercial Officer | Option | 3,644 | — |
| Mar 24, 2026 | Campbell Paulofficer: See Remarks | Sell | 21,350 | $13.28 |
| Mar 10, 2026 | DAMELIO FRANK Adirector | Option | 918 | — |
| Mar 10, 2026 | FINNEY ELISHA Wdirector | Option | 1,174 | — |
| Mar 10, 2026 | MARK RICHARD Adirector | Grant | 15,890 | — |
| Mar 10, 2026 | MARK RICHARD Adirector | Option | 1,174 | — |
| Mar 10, 2026 | Mistras Theodoraofficer: Chief Financial Officer | Option | 41,711 | — |
| Mar 10, 2026 | PARRISH MARK Wdirector | Option | 1,175 | — |
| Mar 10, 2026 | Vivaldi Coelho Rogeriodirector | Option | 1,174 | — |
| Mar 10, 2026 | Le Goff Corinneofficer: Chief Commercial Officer | Tax | 973 | $14.16 |
Source: VTRS SEC Form 4 filings, latest Jun 26, 2026. For informational purposes only — not investment advice.
See the full VTRS insider & 13F page →Viatris Inc. company profile
Overview
Viatris Inc. (NASDAQ:VTRS) is a global healthcare company formed in 2020 through the merger of Mylan N.V. and Pfizer's Upjohn division. The company traces its roots back to 1961 and represents one of the world's largest generic and specialty pharmaceutical companies. Headquartered in Canonsburg, Pennsylvania, Viatris operates across more than 165 countries and serves over one billion patients annually with a diverse portfolio of prescription medicines, biosimilars, and active pharmaceutical ingredients.
Business
Viatris operates in the pharmaceutical industry, specifically focusing on generic drugs, specialty pharmaceuticals, and biosimilars. The company's business is organized into four main geographic segments that reflect different market dynamics and regulatory environments. The Developed Markets segment includes Europe and North America, representing mature pharmaceutical markets with established healthcare systems and robust regulatory frameworks. This segment focuses on both generic medications (off-patent versions of brand-name drugs) and specialty branded products. Generic drugs are bioequivalent copies of brand-name medications that become available after the original drug's patent expires, typically sold at significantly lower prices. The Greater China segment encompasses mainland China, Hong Kong, and Taiwan, representing one of the world's fastest-growing pharmaceutical markets. The JANZ segment covers Japan, Australia, and New Zealand - developed markets with unique regulatory requirements and pricing dynamics. The Emerging Markets segment includes countries across Latin America, Africa, Asia-Pacific, and Eastern Europe, where there is growing demand for affordable healthcare solutions. Viatris manufactures and distributes several categories of pharmaceutical products. Generic drugs form the core of the business, including both simple generic formulations and complex generics that are more difficult to manufacture and face less competition. The company also produces biosimilars - near-identical copies of expensive biologic drugs used in oncology, immunology, and other therapeutic areas. Additionally, Viatris manufactures active pharmaceutical ingredients (APIs), which are the chemical compounds that provide the therapeutic effect in finished drug products. The company's product portfolio spans multiple therapeutic areas including cardiovascular diseases, central nervous system disorders, infectious diseases, respiratory conditions, and diabetes management. Notable products include cardiovascular medications like Norvasc and Lipitor, the EpiPen auto-injector for severe allergic reactions, and various biosimilar products competing with expensive brand-name biologics.
Revenue model
Viatris generates revenue primarily through product sales to various customer channels in the pharmaceutical supply chain. The company sells its medicines to pharmaceutical wholesalers and distributors, retail pharmacies, hospital systems, government agencies, and specialty pharmacies. Revenue is generated when these customers purchase Viatris products for subsequent distribution to patients. The business model varies significantly across product categories. Generic drugs typically operate on high-volume, low-margin economics where Viatris competes primarily on price and supply reliability. The company's competitive advantage in generics comes from manufacturing scale, regulatory expertise, and global distribution capabilities. Complex generics and specialty products command higher margins due to manufacturing complexity and limited competition, but represent smaller market volumes. Biosimilars represent a growing revenue stream with attractive economics, as these products can capture market share from expensive branded biologics while offering significant cost savings to healthcare systems. The company's biosimilar portfolio includes products in oncology and immunology, areas with high unmet medical need and substantial market opportunities. Several factors influence Viatris's profitability and margins. Generic drug pricing pressure remains a persistent headwind, as increased competition and customer consolidation drive down selling prices over time. Manufacturing efficiency and regulatory compliance are critical success factors, as evidenced by the significant impact of the FDA warning letter for the company's Indore facility, which resulted in an estimated $500 million revenue impact and $385 million EBITDA impact in 2025. Currency fluctuations affect results given the company's global operations, while raw material costs and energy prices impact manufacturing expenses. The company benefits from economies of scale in manufacturing and R&D, as well as its ability to launch new generic products as branded drugs lose patent protection. Regulatory changes in major markets can significantly impact pricing and market access, particularly in emerging markets where government healthcare policies are evolving rapidly.
Competitive moat
Viatris possesses a moderate economic moat based primarily on scale advantages, regulatory expertise, and global distribution infrastructure. The company's ability to manufacture and distribute pharmaceutical products across 165+ countries creates significant barriers for smaller competitors who lack the regulatory approvals, manufacturing capabilities, and distribution relationships required for global operations. The company's manufacturing scale provides cost advantages in producing high-volume generic drugs, while its regulatory expertise enables faster and more efficient drug approvals across multiple jurisdictions. Viatris maintains manufacturing facilities that meet stringent regulatory standards in major markets, creating switching costs for customers who rely on consistent, compliant supply. However, the moat faces several challenges. The generic drug industry is inherently commoditized, with limited pricing power once multiple competitors enter a market. Biosimilar competition is intensifying as more companies develop capabilities in this area, potentially eroding Viatris's early-mover advantages. The company's dependence on aging branded products like EpiPen creates vulnerability as these face increasing competitive pressure. Regulatory risks represent a significant threat to the moat, as demonstrated by the Indore facility issues that disrupted supply chains and damaged customer relationships. The company faces ongoing pressure from healthcare cost containment initiatives globally, including government price controls and pharmacy benefit manager negotiations that limit pricing flexibility. The emerging innovative pipeline including selatogrel and cenerimod could strengthen the moat if successful, as these patented products would provide pricing power and differentiation. However, clinical development carries substantial execution risk, and the company competes against larger pharmaceutical companies with greater R&D resources and more diverse pipelines.
Risks & safety
Viatris demonstrates moderate financial safety with adequate liquidity but elevated leverage ratios that require careful monitoring. **Liquidity and Cash Flow:** - Cash and short-term investments: $755 million as of Q1 2025 - Strong free cash flow generation: $460 million in Q1 2025, $1.98 billion for full year 2024 - Current ratio: 1.68x indicating adequate short-term liquidity coverage **Debt and Leverage:** - Debt-to-equity ratio: 0.92x representing elevated but manageable leverage - Company has been actively deleveraging, retiring $3.7 billion in debt during 2024 - Targeting long-term gross leverage of approximately 3x EBITDA **Valuation Metrics:** - Trading at 0.66x book value, suggesting potential undervaluation - EV/EBITDA multiple distorted by recent large impairments and one-time charges - Price-to-earnings ratio negative due to recent losses from facility remediation costs **Other Considerations:** - Regulatory overhang from Indore facility FDA warning letter creates near-term earnings uncertainty - Geographic diversification provides some protection against regional market disruptions - Substantial asset base ($38.5 billion total assets) provides financial flexibility for strategic initiatives
Recent development
Over the past few years, Viatris has undergone significant strategic transformation focused on portfolio optimization, debt reduction, and pipeline expansion. The company completed its post-merger integration following the 2020 combination of Mylan and Pfizer's Upjohn division, achieving approximately $750 million in cost synergies. A major strategic pivot involved divesting non-core assets to focus resources on higher-growth opportunities. The company completed the sale of its biosimilar business to Biocon Biologics and divested several other assets to simplify operations and reduce complexity. Pipeline expansion represents a key growth initiative, with Viatris entering into a global R&D collaboration with Idorsia to acquire exclusive rights to selatogrel (for acute myocardial infarction) and cenerimod (for systemic lupus erythematosus). The company also licensed sotagliflozin for cardiovascular applications, building a portfolio of innovative assets targeting large addressable markets. The company has been strengthening its specialty portfolio through acquisitions, including Oyster Point Pharma to establish an eye care division targeting $1 billion in sales by 2028. Recent clinical developments include positive Phase 3 data for fast-acting meloxicam in acute pain and positive results for the XULANE LO transdermal birth control patch. Operational challenges emerged with the FDA warning letter and import alert for the Indore manufacturing facility, affecting 11 products and requiring comprehensive remediation efforts. The company is implementing facility transfers and third-party manufacturing arrangements to mitigate supply disruptions while working toward regulatory compliance. Capital allocation strategy has evolved to balance growth investments with shareholder returns. The company returned $825 million to shareholders in 2024 through dividends and share repurchases, while maintaining disciplined business development focused on near-market assets that can contribute to near-term revenue growth.
VTRS company profile · for informational purposes only — not investment advice.
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