Viatris Plots January Investor Day To Flesh Out Longer-Term Roadmap
As The Street Awaits Details Of Post 2023 Investment And Strategy
Viatris will host another investor day, to take place early in the new year, to discuss its 2022-23 and 2024+ plans. Management provided details during the company’s Q3 earnings call, as Viatris announced it was once again raising full-year financial targets.
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Viatris has reached an agreement worth a little over a quarter-of-a-billion dollars to resolve one set of antitrust claims that it unlawfully withheld generic competition to its controversial EpiPen autoinjector. The charge appeared on Viatris’ 2021 P&L, which was detailed during a company investor day.
After confirming rumors that it would offload its biosimilars unit to its long-term partner Biocon, Viatris has outlined plans to add to the expected cash proceeds with other divestments to complete on several strategic goals up to 2023. Bumping up R&D spending to facilitate complex generic launches is a continued priority for the company.
As CEO Michael Goettler provides an update on the progress made by Viatris in its first year as a combined company, he also offers Generics Bulletin hints as to the detailed strategy that will be unveiled at the firm’s upcoming investor day and explains how biosimilars – including interchangeable Semglee (insulin glargine) – and complex generics are important components of the firm’s future growth plans.