Viatris' 1st-qtr 2021 financials beat expectations

15 May 2021

Recently-formed Viatris (Nasdaq: VTRS), the combination of Mylan with Pfizer’s (NYSE: PFE) Upjohn business, has reported results for the first quarter of 2021, which demonstrate the strength of its differentiated operating platform and commercial capabilities, its broad and diverse product portfolio and its strong R&D platform, the company said.

First quarter 2021 net sales totaled $4.40 billion, down 6% compared to combined adjusted first-quarter 2020 results, but only down 2% compared to combined loss of exclusivity (LOE) adjusted Q1 2020 results driven by solid performance across all four of our segments - Developed Markets, Emerging Markets, JANZ (Japan, Australia and New Zealand), and Greater China. The sales figure beat expectations by 5.6%.

Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) grew 118% year-on-year to $1.6 billion (reported), a decline of 10% compared to combined adjusted results.

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