Viatris Promises Clarity And Certainty On $9bn Transformation Plans
As Company Sticks With 2022 FY Guidance Following Q1 Financials
Confident that it will divest all non-core assets by the end of next year, Viatris says it understands “the importance of remaining engaged” with investors during the revamp. Meanwhile, the company is keeping a close eye on foreign exchange rate headwinds moving further into 2022, while electing not to row back further on its 2022 full-year guidance.
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Viatris and Biocon have introduced their Abevmy biosimilar bevacizumab version of Avastin in Canada. Marking the third oncology biosimilar – and the fourth biosimilar overall – to be launched by Viatris in Canada, the product will face multiple other approved bevacizumab rivals in the market.
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.
Biocon Biologics will pay up to $3.3bn to acquire the global biosimilars business of Viatris, in a long-rumored deal that will create a vertically-integrated biosimilars giant with annual sales approaching $1bn.