Jump to content

Viatris: Difference between revisions

From Wikipedia, the free encyclopedia
Browse history interactively
← Previous editNext edit →
Content deleted Content added
VisualWikitext
→‎History: relevant adds/adjs - see talk
Uncontroversial COI edit to update the Infobox with sources.
Line 1: Line 1:
{{short description|American pharmaceutical and healthcare corporation}}
{{short description|American pharmaceutical and healthcare corporation}}

{{Infobox company
{{Infobox company
| name = Viatris Inc.
| name = Viatris Inc.
Line 19: Line 20:
* Scott A. Smith {{small|([[Chief executive officer|CEO]])}}
* Scott A. Smith {{small|([[Chief executive officer|CEO]])}}
* Sanjeev Narula {{small|([[CFO]])}}
* Sanjeev Narula {{small|([[CFO]])}}
* Rajiv Malik {{small|([[President]])}}<ref>{{cite web |title=Rajiv Malik President/Executive Director, Viatris Inc |url=https://www.bloomberg.com/profile/person/7340329#xj4y7vzkg |website=Bloomberg.com}}</ref>
* [[W. Don Cornwell]] {{small|(Director)}}
* [[James M. Kilts]] {{small|(Director)}}
}}
}}
| products = {{flatlist|
| products = {{flatlist|
Line 28: Line 28:
* [[active ingredient|active pharmaceutical ingredient]]s
* [[active ingredient|active pharmaceutical ingredient]]s
}}
}}
| revenue = {{decrease}} {{US$|16.26 billion|link=yes}} (2022)<ref>{{cite web |title=Viatris Financial Statements 2009-2023 |url=https://www.macrotrends.net/stocks/charts/VTRS/viatris/financial-statements|website=Macrotrends.net }}</ref>
| revenue = {{increase}} {{US$|17.89 billion|link=yes}} (2021)
| net_income = {{increase}} US$2.1 billion (2022)<ref>{{cite web |title=Viatris Net Income 2010-2023 |url=https://www.macrotrends.net/stocks/charts/VTRS/viatris/net-income|website=Macrotrends.net }}</ref>
| net_income = {{decrease}} US$&minus;1.27 billion (2021)
| assets = {{decrease}} US$50.02 billion (2022)<ref>{{cite web |title=Viatris Total Assets 2010-2023 |url=https://www.macrotrends.net/stocks/charts/VTRS/viatris/total-assets|website=Macrotrends.net|website=Macrotrends.net }}</ref>
| assets = {{decrease}} US$54.84 billion (2021)
| equity = {{increase}} US$21.1 billion (2022)<ref>{{cite web |title=Viatris Share Holder Equity 2010-2023 |url=https://www.macrotrends.net/stocks/charts/VTRS/viatris/total-share-holder-equity |website=Macrotrends.net}}</ref>
| equity = {{decrease}} US$20.49 billion (2021)
| num_employees = {{circa|38,000}} (2022)<ref>{{cite web |title=Viatris:Building Our Talent |url=https://www.viatris.com/en/about-us/corporate-social-responsibility/engaging-colleagues|website=Viatris.com}}</ref>
| num_employees = {{circa|37,000}} (December 2021)
| subsid = {{plainlist|
| subsid = {{plainlist|
* [[Oyster Point Pharma]]
* [[Oyster Point Pharma]]
Line 40: Line 40:
| footnotes = <ref name=10K>{{cite web | url=https://www.sec.gov/ix?doc=/Archives/edgar/data/1792044/000179204422000010/vtrs-20211231.htm | title=Viatris Inc. 2021 Form 10-K Annual Report | publisher=[[U.S. Securities and Exchange Commission]] |date=February 28, 2022}}</ref>
| footnotes = <ref name=10K>{{cite web | url=https://www.sec.gov/ix?doc=/Archives/edgar/data/1792044/000179204422000010/vtrs-20211231.htm | title=Viatris Inc. 2021 Form 10-K Annual Report | publisher=[[U.S. Securities and Exchange Commission]] |date=February 28, 2022}}</ref>
}}
}}



'''Viatris Inc.''' is an American global pharmaceutical and healthcare corporation headquartered in [[Canonsburg, Pennsylvania]]. The corporation was formed through the merger of [[Mylan]] and [[Upjohn]], a legacy division of [[Pfizer]], on November 16, 2020.<ref name=PittBizJournals>{{cite news | last=Gough | first=Paul J. | title=After nearly 60 years, Mylan makes way for Viatris | url=https://www.bizjournals.com/pittsburgh/news/2020/11/16/after-nearly-60-years-mylan-makes-way-for-viatris.html | work=[[American City Business Journals]] | date=November 16, 2020}}</ref>
'''Viatris Inc.''' is an American global pharmaceutical and healthcare corporation headquartered in [[Canonsburg, Pennsylvania]]. The corporation was formed through the merger of [[Mylan]] and [[Upjohn]], a legacy division of [[Pfizer]], on November 16, 2020.<ref name=PittBizJournals>{{cite news | last=Gough | first=Paul J. | title=After nearly 60 years, Mylan makes way for Viatris | url=https://www.bizjournals.com/pittsburgh/news/2020/11/16/after-nearly-60-years-mylan-makes-way-for-viatris.html | work=[[American City Business Journals]] | date=November 16, 2020}}</ref>

Revision as of 13:56, 18 July 2023

Viatris Inc.
Company typePublic
ISINUS92556V1061
Industry
Predecessors
FoundedNovember 16, 2020; 3 years ago (2020-11-16)
Headquarters
Canonsburg, Pennsylvania
,
U.S.
Area served
Worldwide
Key people
Products
RevenueDecrease US$16.26 billion (2022)[2]
Increase US$2.1 billion (2022)[3]
Total assetsDecrease US$50.02 billion (2022)[4]
Total equityIncrease US$21.1 billion (2022)[5]
Number of employees
c. 38,000 (2022)[6]
Subsidiaries
Websiteviatris.com
Footnotes / references
[7]


Viatris Inc. is an American global pharmaceutical and healthcare corporation headquartered in Canonsburg, Pennsylvania. The corporation was formed through the merger of Mylan and Upjohn, a legacy division of Pfizer, on November 16, 2020.[8]

The name of the corporation comes from the Latin words via, meaning path, and tris, which means three, referring to the path to three main objectives the corporation set: expanding access to medicines, meeting patient needs through innovation, and earning the trust of the healthcare community.[9][10]

Viatris ranked 254th on the 2021 Fortune 500 rankings of the largest United States corporations based on its 2020 total revenue.[11]

History

On November 16, 2020, Upjohn merged with Mylan in a Reverse Morris Trust transaction and changed its name to Viatris.[7][8] At that time, Michael Goettler became chief executive officer.[12][9]

Following the combination, the company began trading on the NASDAQ using the ticker symbol VTRS.[8]

In December 2020, the company announced a cost-reducing restructuring plan which would impact up to 20% of its global workforce, or 9,000 jobs at its facilities around the world.[13][14][15]

In 2021, Viatris was ranked 5th by Fortune on its annual "Change the World" list for having "transformed the treatment of HIV around world in the [previous] five year through the first low-cost antiretroviral drug for first-line treatment of HIV and a children's version in the form of fruit-flavored tablets that dissolve in liquid.[16]

In February 2022, Viatris announced an agreement where it will contribute to Biocon Biologics its biosimilars portfolio and related commercial and operational capabilities in exchange for up to $3.335 billion, including a stake of at least 12.9% in Biocon Biologics.[17] The transaction was completed in November 2022.[18] In November 2022, the business agreed to acquire Oyster Point Pharma and Famy Life Sciences for an aggregate of $700–750 million to create an ophthalmology division.[19][20] The acquisitions closed in January 2023.[21][22]

In 2022, Viatris was recognized by Forbes as one of the world's best employers[23] and by Newsweek as one of America's most responsible companies.[24]

On April 1, 2023, Scott A. Smith became Viatris' CEO, succeeding Michael Goettler. Smith previously served on the company's board since 2022. [25]

In April 2023, Viatris was recognized by LinkedIn as one of the 25 best companies to work for in India,[26] and one of the 25 best companies offering career development in Ireland.[27]

In May 2023, USA Today included Viatris in its list of 400 US companies who have reduced their greenhouse gas emissions intensity from 2019 to 2021. [28]

In June 2023, Viatris was named to the Forbes Global 2000 list of the world's largest companies.[29]

Predecessors

The following is an illustration of the company's major mergers and acquisitions and historical predecessors:

Viatris Acquisitions
  • Viatris
    • Merger of Mylan and Upjohn
    • Famy Life Sciences (Acq 2023)
    • Oyster Point Pharma (Acq 2023)

Products

The company produces and sells a variety of medicines, with 1,400 approved therapeutic molecules in its portfolio.[30] It owns brands (like Viagra, Xanax, Lipitor),[12][31] generics, including branded and complex generics, biosimilars,[32][33] and over-the-counter (OTC) drugs and active pharmaceutical ingredients. Viatris products cover therapeutic areas including cardiovascular, infectious disease, oncology, immunology, CNS and anesthesia, women's healthcare, diabetes and metabolism, gastroenterology, respiratory and allergy, and dermatology.[33][34]

The following products have been newly launched or received regulatory approvals since Viatris was established:

  • Abevmy (Bevacizumab), a biosimilar, received European Commission approval in April 2021.[35][36]
  • Hulio (Adalimumab), a biosimilar, was launched in Japan[37] and Canada in February 2021.[38]
  • Kixelle (Insulin aspart), a biosimilar, received European Commission approval in February 2021.[39][40]
  • Dolutegravir received US FDA approval in December 2020 to treat children with HIV/AIDS in low to middle income countries. The formulation is strawberry-flavored to make it easier to give to children and was made available at a 75% discount compared to previous treatments.[41][42]
  • Semglee (Insulin glargine-yfgn) received the first interchangeable biosimilar approval from the US FDA in July 2021. The approval allows pharmacists to substitute Semglee for the reference product, Lantus.[43][44] Branded and unbranded versions of the interchangeable biosimilars launched in November 2021.[45][46]
  • Breyna (Budesonide and Formoterol Fumarate Dihydrate Inhalation Aerosol) received approval from the US FDA in March 2022 as the first generic version of Symbicort for the treatment of asthma and COPD.[47][48]

Partnerships

Following the formation of Viatris, the company became a member of the Biosimilars Forum, a trade organization that advocates for greater biosimilar usage.[32]

Viatris partnered with the American College of Cardiology, the NCD Alliance, and the World Heart Federation to create the NCD Academy, a platform to help fight non-communicable diseases around the world.[49][50]

In December 2020, the company worked with Sesame Workshop to create resources to help children and their caregivers manage their social and emotional needs impacted by the COVID-19 pandemic.[51][52]

In April 2021, the company partnered with Atomo Diagnostics and Unitaid to expand access to HIV self-testing to 135 countries and lower the price of the tests by around 50%.[53][54]

References

  1. ^ "Rajiv Malik President/Executive Director, Viatris Inc". Bloomberg.com.
  2. ^ "Viatris Financial Statements 2009-2023". Macrotrends.net.
  3. ^ "Viatris Net Income 2010-2023". Macrotrends.net.
  4. ^ "Viatris Total Assets 2010-2023". Macrotrends.net.
  5. ^ "Viatris Share Holder Equity 2010-2023". Macrotrends.net.
  6. ^ "Viatris:Building Our Talent". Viatris.com.
  7. ^ a b "Viatris Inc. 2021 Form 10-K Annual Report". U.S. Securities and Exchange Commission. February 28, 2022.
  8. ^ a b c Gough, Paul J. (November 16, 2020). "After nearly 60 years, Mylan makes way for Viatris". American City Business Journals.
  9. ^ a b "Viatris picked as new name for a merged Mylan/Upjohn". Pittsburgh Post-Gazette. November 12, 2019.
  10. ^ Blankenship, Kyle (November 12, 2019). "Pfizer's Upjohn and Mylan will become Viatris. Wait, haven't we heard that name before?". FiercePharma.
  11. ^ "Fortune: Viatris Company Profile, News, Rankings". Fortune.com. Fortune. Retrieved 2 June 2021.
  12. ^ a b Mamula, Kris B. (July 29, 2019). "Mylan merger with Pfizer's Upjohn unit to form new company with $20 billion in revenues". Pittsburgh Post-Gazette.
  13. ^ "Viatris Inc. Announces Additional Details of Previously Disclosed Global Restructuring Initiative" (Press release). PR Newswire. December 11, 2020.
  14. ^ Gough, Paul J. (December 11, 2020). "Viatris to lay off up to 20% of global workforce, with local impacts expected to occur". American City Business Journals.
  15. ^ Kansteiner, Fraiser (December 11, 2020). "Pfizer-Mylan combo Viatris to slash up to 9,000 jobs, shutter manufacturing plants in global cost-cutting drive". FiercePharma.
  16. ^ "Viatris: 2021 Change the World". Fortune. Retrieved 17 October 2021.
  17. ^ Linnane, Clara (28 February 2022). "Viatris to contribute its biosimilars portfolio to Biocon Biologics for up to $3.335 billion, shares jump 4% premarket". MarketWatch. Retrieved 24 March 2022.
  18. ^ Priyan, Vishnu (30 November 2022). "Biocon Biologics acquires biosimilars business of Viatris for $3bn". Pharmaceutical Technology.
  19. ^ "Pittsburgh pharmaceutical company making its move into ophthalmology field". Pittsburgh Post-Gazette. November 7, 2022.
  20. ^ Becker, Zoey (7 November 2022). "Viatris jumps into ophthalmology arena with pair of buyouts worth up to $750M". Fierce Pharma.
  21. ^ Sharma, Ruchika (4 January 2023). "Viatris Closes Acquisitions Of Famy Life Sciences, Oyster Point Pharma To Establish Eye Care Division". Medical Dialogues.
  22. ^ Gough, Paul J. (3 January 2023). "Viatris completes 2 key acquisitions in vision care". Pittsburgh Business Times.
  23. ^ Brier, Elisabeth (11 October 2022). "World's Best Employers 2022". Forbes.
  24. ^ Cooper, Nancy (2022). "America's Most Responsible Companies 2022". Newsweek.
  25. ^ Doughty, Nate (30 December 2022). "Viatris appoints 2 new directors to its board". Pittsburgh Business Times.
  26. ^ Tong, Goh Chiew (26 April 2023). "Here are the top 25 companies to work for in India, according to LinkedIn — and most of them are not in tech". CNBC.com.
  27. ^ O'Brien, Robert (20 April 2023). "LinkedIn ranks Ireland's best employers for career development". Business Plus.
  28. ^ Weise, Elizabeth (24 May 2023). "Climate change calls for cuts in carbon emissions. These US companies are leading the way". USA Today.
  29. ^ Murphy, Andrea; Tucker, Hank (8 June 2023). "The Global 2000". Forbes.
  30. ^ Levy, Sandra (16 November 2020). "Viatris launches following combination of Mylan, Upjohn". Drug Store News. Retrieved 6 May 2021.
  31. ^ Liu, Angus (23 April 2021). "Merger of Mylan and Pfizer's Upjohn wins EU nod with product sell-off agreement". FiercePharma. Retrieved 6 May 2021.
  32. ^ a b Hagen, Tony (30 November 2020). "Newly Created Viatris Joins the Biosimilars Forum". Centerforbiosimilars.com. Retrieved 6 May 2021.
  33. ^ a b "Viatris Inc. Joins Biosimilars Forum". Biosimilardevelopment.com. 30 November 2020. Retrieved 6 May 2021.
  34. ^ Burton, Patrick (27 January 2021). "Viatris: Cost-Cutting Needed at New Generics Behemoth". Pharmaboardroom.com. Retrieved 6 May 2021.
  35. ^ "Biocon Biologics, Viatris receive approval for cancer drug". The Economic Times. 26 April 2021. Retrieved 13 June 2021.
  36. ^ "Biocon Biologics, Viatris receive EC nod for biosimilar Bevacizumab". Moneycontrol.com. 26 April 2021. Retrieved 13 June 2021.
  37. ^ Wallace, David (15 February 2021). "Viatris And FKB Introduce First Japanese Adalimumab Biosimilar". Informa Pharma Intelligence. Retrieved 13 June 2021.
  38. ^ "BRIEF-Viatris Launches Hulio In Canada". Reuters. 18 February 2021. Retrieved 13 June 2021.
  39. ^ Rudge, Dean (15 February 2021). "Biocon And Viatris Scoop EU Insulin Aspart Approval". Informa Pharma Intelligence. Retrieved 13 June 2021.
  40. ^ "Biocon Biologics, Viatris gets European Commission nod for co-developed diabetes drug". Business Line. 12 February 2021. Retrieved 13 June 2021.
  41. ^ Giuliani-Hoffman, Francesca (4 December 2020). "HIV medications for children can be bitter to swallow. A strawberry-flavored drug might help". CNN. Retrieved 13 June 2021.
  42. ^ "HIV generic drug for babies to be rolled out in Africa in 2021 - aid agencies". Reuters. 1 December 2020. Retrieved 13 June 2021.
  43. ^ Johnson, Linda A. (28 July 2021). "FDA allows automatic 'generic' swap for brand-name insulin". PBS NewsHour. Retrieved 31 August 2021.
  44. ^ "FDA Approves First Interchangeable Biosimilar Insulin Product for Treatment of Diabetes". Food and Drug Administration. 28 July 2021. Retrieved 31 August 2021.
  45. ^ "Viatris, Biocon Launch Biosimilar Products Interchangeable For LANTUS - Quick Facts". 16 November 2021. Retrieved 24 November 2021.
  46. ^ "Biocon Biologics, Viatris launch biosimilar insulin glargine in US". 16 November 2021. Retrieved 24 November 2021.
  47. ^ Genovese, Meghan (15 March 2022). "FDA Grants Viatris Approval for Generic of Astra's Symbicort". Bloomberg Law.
  48. ^ Hronec, Jordyn (16 March 2022). "Viatris receives FDA approval for generic asthma drug". Pittsburgh Business Times.
  49. ^ "Fighting the Quiet Crisis of Noncommunicable Diseases". Scientific American Custom Media. 27 January 2021. Retrieved 24 May 2021.
  50. ^ "NCD Academy". NCDalliance.org. Retrieved 24 May 2021.
  51. ^ Kiner, Deb (7 December 2020). "Sesame Workshop helps kids manage 'big feelings like stress and fear' with new resources". The Patriot-News. Retrieved 24 May 2021.
  52. ^ "Sesame Workshop launches children's animations about COVID-19 education, resources for families". KGO-TV. 7 December 2020. Retrieved 24 May 2021.
  53. ^ "Access to HIV self-tests significantly expanded and costs halved thanks to Unitaid agreement". Unitaid.org. 28 April 2021. Retrieved 24 May 2021.
  54. ^ "HIV self-test prices to be slashed in half in 135 countries". PANCAP.org. 29 April 2021. Retrieved 24 May 2021.
Retrieved from "https://en.wikipedia.org/w/index.php?title=Viatris&oldid=1165957975"