Viatris Reaches $264m EpiPen Settlement Agreement With Trial Imminent
Company Admits No Wrongdoing; Maintains ‘That It Acted Lawfully’
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.
You may also be interested in...
Days after Viatris announced a landmark new direction – the divestment of its global biosimilars plus other assets – and its full-year 2021 earnings, company management spoke with a leading investment bank to clarify issues raised by Viatris’ shareholders.
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.
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.