Below is a look at the company’s 2023/24 highlights, recent acquisitions, best-selling drugs, and more.

Headcount: 38,000
Revenues: $15,388 (-5%)
Net Income: $54.7 (Earnings $2,079 FY22)
R&D: $805 (+22%)

Viatris is a global healthcare company with a portfolio including recognized iconic brands and a broad range of generic medicines spanning more than ten therapeutic areas. Full year 2023 net sales totaled $15.4 billion, down 5% as reported compared to 2022. In April 2023 it was announced that Scott A. Smith would be taking over as the new CEO.

In other leadership news, the company appointed Theodora “Doretta” Mistras as chief financial officer and Philippe Martin as chief R&D officer earlier this year. Most recently, in April, Viatris named Corinne Le Goff as chief commercial officer and a member of the company’s executive leadership team.

The company has a strong history of partnering with other pharmaceutical companies and in February 2024, it entered a significant global research and development collaboration with Idorsia Ltd. under which Viatris will receive exclusive global development and commercialization rights to two Phase 3 assets (selatogrel and cenerimod) as well as the potential to add additional assets in the future.

In positive pipeline news, in July 2023, Viatris and Kindeva Drug Delivery launched Breyna (budesonide and formoterol fumarate dihydrate) Inhalation Aerosol, the first generic version of AstraZeneca’s Symbicort with an abbreviated new drug application (ANDA) approved by the U.S. FDA. The indications for Breyna include asthma in patients six years of age and older, the maintenance treatment of airflow obstruction and reducing exacerbations in patients with COPD, including chronic bronchitis and/or emphysema.

In August 2023, Viatris and Mapi Pharma Ltd. announced that the FDA had accepted for review the their recently submitted New Drug Application (NDA) for GA Depot 40 mg. The product is a long-acting glatiramer acetate being investigated as a once-monthly injection for the treatment of relapsing forms of multiple sclerosis (RMS).

In September 2023, the FDA granted tentative approval for a New Drug Application for abacavir 60 mg/dolutegravir 5 mg/lamivudine 30 mg tablets for oral suspension for the treatment of HIV-1 infection in paediatric patients. The FDA’s tentative approval means the formulation meets all the agency’s quality, safety, and efficacy standards.

Most recently, in April 2024, Viatris announced the U.S. commercial launch of Ryzumvi 0.75%—the only U.S. commercially available FDA-approved eye drop to reverse dilation.

In the first quarter of 2024, Viatris marked its fourth consecutive quarter of operational revenue growth, with total net sales totaling $3.7 billion, up approximately 2%.

Headcount: 37,000
Pharma Revenues: $17,814 (+51%)
Loss: $1,269
R&D: $751  (+35%)

TOP SELLING DRUGS

Viatris, formerly known as Upjohn, is a global healthcare company formed in November 2020 with a portfolio of more than 1,400 approved molecules across a wide range of key therapeutic areas, spanning both non-communicable and infectious diseases, including globally recognized brands, complex generic and branded medicines, a portfolio of biosimilars and a variety of over-the-counter consumer products. Full year 2021 net sales totaled $17.81 billion, down 3% on an operational basis compared to combined adjusted full-year 2020 results. Brands performed on track with expectations, driven by products such as Viagra, Lipitor, Lyrica and the Thrombosis portfolio.

The company has a strong history of partnering with other pharmaceutical companies, nonprofit organizations, government agencies, policymakers, trade associations and alliances, industry researchers and patient advocacy groups. In February 2022, Viatris reached a definitive agreement with Biocon Biologics Limited to contribute its biosimilars portfolio to Biocon Biologics, which will become a uniquely positioned, vertically integrated company that is expected to become a global biosimilars leader. Upon closing, the transaction is expected to provide Viatris with immediate, enhanced financial flexibility, and accelerate its Phase I financial commitments. Viatris intends to continue to invest in expanding its commercial and scientific capabilities in key focus areas for the future, while continuing to participate in the global biosimilars market through its ownership position in Biocon Biologics.

Viatris faces increasing competition from lower-cost generic products and other branded products. Some of the company’s products are not protected by patent rights or have limited patent life and will soon lose patent protection. Loss of patent protection for a product typically is followed promptly with the launch of generic products. As a result, sales of many of these products may decline or stop growing over time, and may decline faster than has been projected. For example, Perforomist lost exclusivity and experienced generic competition in June 2021, and the compound patent for Celebrex in Japan expired in November 2019 with generics entering the market in June 2020. In June 2019, Lyrica’s pediatric exclusivity in the United States expired, and multisource generic competition commenced in the United States in July 2019.

In positive pipeline news, in July 2021, the U.S. Food and Drug Administration (FDA) approved Semglee (insulin glargine-yfgn) injection as the first interchangeable biosimilar product under the 351(k) regulatory pathway. Semglee is indicated to control high blood sugar in adults with Type 2 diabetes and adults and pediatric patients with Type 1 diabetes.

In November 2021, Semglee, and Insulin Glargine (insulin glargine-yfgn), an unbranded product, launched in the U.S. to help control high blood sugar in adult and pediatric patients with type 1 diabetes and adults with type 2 diabetes.

In February 2022, Viatris’ subsidiary, Mylan Pharmaceuticals Inc., received approval from the FDA for its Abbreviated New Drug Application (ANDA) for Cyclosporine Ophthalmic Emulsion 0.05%, the first generic version of Allergan’s Restasis.

In March 2022, Mylan Pharmaceuticals Inc. received approval from the FDA for its Abbreviated New Drug Application (ANDA) for Breyna (Budesonide and Formoterol Fumarate Dihydrate Inhalation Aerosol), the first approved generic version of AstraZeneca’s Symbicort.

In May 2019, Abevmy (bevacizumab), a biosimilar to Roche’s Avastin co-developed by Viatris and Biocon Biologics, was approved by Health Canada across four oncology indications.