Viatris' 2021 financial guidance misses expectations

Viatris (Nasdaq: VTRS), the newly-formed generics power-house resulting from the merger of Mylan and Pfizer’s (NYSE: PFE) Upjohn unit, saw its share fall more than 11% to $16.30 pre-market today, after it announced 2021 financial guidance.

The company also reaffirmed its commitment to rapid de-leveraging, to enhancing and growing free cash flows, particularly following the phasing out of one-time and other stand-up costs, to initiating a dividend, and to delivering total shareholder return (TSR).

On a non-generally accepted accounting principles (GAAP) basis, Viatris said it expects full-year revenues in the range of $17.2 billion to $17.8 billion. Adjusted earnings before interest, depreciation, taxes and amortization (EBIDTA) are expected to be $6.00 to $6.40.