Viatris Stock Earnings Reports

Viatris reported a strong start to 2026 with Q1 revenue of $3.5 billion (up 3% yr/yr operationally), adjusted EBITDA of ~$1.0 billion and adjusted EPS of $0.59. Key growth drivers were Greater China (up ~18% YoY) and North America generics/complex generics. Management reaffirmed 2026 guidance while upping their China growth expectation to mid‑to‑high single digits and noted a ~1% FX tailwind if current rates hold. Pipeline and regulatory highlights: EFFEXOR for GAD approved in Japan; XULANE LO (low‑dose contraceptive patch) has a PDUFA date of July 30, 2026; fast‑acting meloxicam NDA accepted by FDA with an expected decision by year‑end (PDUFA date pending); selatogrel SOS‑AMI enrollment running ~1,200 patients/month and cenerimod Phase III trials are fully enrolled (readouts expected H1 2027). New product contribution was $71 million in Q1. Operationally, adjusted gross margin (~56%) was flat, operating expenses were favorable driven by cost discipline and strategic review savings (on track to deliver planned savings), and free cash flow was $348 million ($459M ex one‑time items). Capital allocation: management expects >$2.5 billion of cash available for deployment in 2026, returned $140 million in dividends in Q1, and plans balanced use of capital (dividends/repurchases, reinvestment, BD). Risks called out: dynamic China policy risk, temporary supply constraints in lower‑margin generics and some ARV supply issues, and competitive pressure in developed generics markets.