Viatris 3rd-qtr 2024 results beat estimates

US generic drugmaker Viatris (Nasdaq: VTRS) announced robust financial results for the third quarter of 2024, driven by positive momentum against all three pillars of its strategy. The company’s shares shot up 13.5% to $13.18 following the announcement.

Viatris declared total revenues of $3.8 billion, marking 3% growth on a divestiture-adjusted basis. The company achieved $133 million in new product revenues and repaid around $1.9 billion of debt, reinforcing its financial steadiness.

Key financial metrics for Viatris include net earnings of $95 million on a generally accepted accounting principles (GAAP) basis and adjusted earnings before tax, depreciation and amortization (EBITDA) of $1.3 billion, reflecting an increase of 4% on a divestiture-adjusted basis. Adjusted earnings per share (EPS) rose by 6% to $0.75 per share, which beat the Zacks Consensus Estimate of $0.68.