Viatris delivered a mixed set of results as it failed to meet the revenue expectations of Wall Street but managed an earnings beat. The company’s revenue was reported at about $16.3 billion in 2022. The fourth quarter was considered successful by the management because of the Biocon deal and IPR&D accounting. In North America, the business shrank by 4% despite Yupelri’s strong performance. They dealt with intense competition for important products like Wixela and the loss of exclusivity for Miacalcin and Perforomist. Yupelri is anticipated to grow at a double-digit rate in 2023 as per the management, which will help counteract the ongoing pressure from the competition on some important products. The company also completed its transaction with Biocon Biologics to create a distinctive, fully integrated worldwide biosimilar leader. In addition, they acquired Oyster Point Pharma and Famy Life Sciences in January to create their new Viatris Eye Care division. The management believes that the combined assets of these purchases would instantly boost top-line revenue and continue to expand at a strong double-digit rate, reaching at least $1 billion in sales by 2028. In addition to the strength of their organic pipeline, particularly the complicated injectables and new product brands, both of which have the potential to achieve $1 billion in peak net sales by 2028. We give Viatris a ‘Hold’ rating with a revised target price.
Our Report Structure:
⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
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