Viatris: 2021 Is Trough Year For Earnings But Revenues A Trickier Prospect
Company ‘Very, Very Pleased’ With Q1 Financials
Executive Summary
Committed to greater transparency following its formation in November, Viatris published first-quarter financial results that met top- and bottom-line expectations. However, the US-based company promised to update the market for meeting revenue projections in 2021.
You may also be interested in...
Generics Industry Fails To Match Last Year’s Growth In First Quarter
The generics industry struggled with the prior-year comparison as it saw an expected decline in revenues in the first quarter of 2021, driven by the global impact of the COVID-19 crisis. As a result, the performance of most companies fell short of the numbers reported in Q1 2020. However, a few managed to contradict the trend by reporting growth, either based on the launch of COVID-related drugs or performance in specific geographies.
Viatris And Biocon’s US Bevacizumab Hit By Indefinite Delay
Viatris and partner Biocon have seen FDA action on their application for a bevacizumab biosimilar rival to Avastin delayed by the need for a facility inspection, the timing of which is uncertain due to coronavirus-related restrictions.
Up To 9,000 Jobs At Risk As Viatris Kicks Off $1bn Restructuring Scheme
With a goal of reducing its cost base by at least $1bn by 2024, Viatris has delivered plans to significantly restructure its global manufacturing network. Up to 20% of Viatris’ 45,000-strong workforce could be impacted by the initiative which will see the firm close, divest or downsize 15 of its manufacturing plants around the globe.