Headcount: 32,000
Year Established: 2020
Revenues: $14,739 (-5%)
Net Loss: $634 (+>100%)
R&D expenses: $809 (flat)

Marked by additional divestitures, 2024 was a year of transition for Viatris as it continues to streamline its global infrastructure. Heading into 2025, the company is focused on driving commercial efforts and advancing its pipeline, including several key late-stage development milestones for selatogrel, cenerimod and sotagliflozin and six Phase 3 readouts.

Viatris became the parent entity of the combined Upjohn Business and Mylan business, and Upjohn changed its name to “Viatris Inc.” The Upjohn Business was a global, primarily off-patent branded and generic established medicines business, which includes 20 primarily off-patent oral solid dose legacy brands, such as Lyrica, Lipitor, Celebrex, and Viagra.

The company’s two product categories, brands and generics, saw declines in 2024, with branded product sales down 6% to $9.2 billion, and generics sales down 2% to $5.5 billion.

Viatris has four reportable segments: Developed Markets, Emerging Markets, JANZ, and Greater China. Developed Markets sales decreased by 3% to $8.9 billion, Emerging Markets decreased by 12% to $2.25 billion, JANZ decreased by 5% to $1.3 billion, and the Greater China Market sales were flat at $2.2 billion.

The Developed Markets segment includes operations primarily in North America and Europe. Key products sold by this segment include Lyrica, Lipitor, Creon, Influvac, Wixela Inhub, EpiPen Auto-Injector, Fraxiparine, and Yupelri. Important recent launches include Breyna and lisdexamfetamine in the U.S., and Rivaroxaban in certain European markets.

The Emerging Markets segment encompasses Asia, Africa, Eastern Europe, Latin America, and the Middle East. Viatris products sold in this segment are Lipitor, Lyrica, Norvasc, Celebrex, and its Antiretroviral franchise. The JANZ segment operates in Japan, Australia, and New Zealand. Key products in the JANZ segment include Amitiza, Effexor, Lipacreon, Lyrica, and EpiPen Auto-Injector.

The Greater China segment includes operations in mainland China, Taiwan, and Hong Kong. This portfolio consists primarily of branded legacy products, including Lipitor, Norvasc, and Viagra.

In March 2024, Viatris completed the divestiture of its women’s healthcare business to Insud Pharma, S.L., which included an India and Sarigam manufacturing facility. Additionally, last June, the company divested Viatris’ API business in India to Matrix Pharma, while retaining some selective API R&D capabilities. Also, in July 2024, Viatris finalized the divestiture of its OTC Business to Cooper Consumer Health. Viatris retained the rights for Viagra, Dymista (which, in certain limited markets, are sold as OTC products), and select OTC products in certain markets.

In other news, Viatris updated the terms of its global R&D collaboration with Idorsia, under which Viatris will receive additional territory rights in Japan, South Korea, and certain countries in the Asia-Pacific region for cenerimod. Viatris initially acquired global development and commercialization rights to two Phase III asset from Idorsia, including selatogrel, a self-administered medicine for patients with a history of acute myocardial infarction or heart attack.

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.