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VTRS

Viatris Inc.

VTRS

Viatris Inc. • NASDAQ
$10.70 ▲ 0.52% (+0.06)
Market Cap $12.32 B
52w High $13.25
52w Low $6.85
Dividend Yield 0.48%
P/E -3.42
Volume 2.71M
Outstanding Shares 1.15B

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $3.76B ▲ $1.133B ▲ $-128.2M ▼ -3.41% ▼ $-0.11 ▼ $800.2M ▲
Q2-2025 $3.582B ▲ $1.1B ▼ $-4.6M ▲ -0.128% ▲ $-0.004 ▲ $577.8M ▲
Q1-2025 $3.254B ▼ $4.043B ▲ $-3.042B ▼ -93.476% ▼ $-2.55 ▼ $-2.317B ▼
Q4-2024 $3.528B ▼ $1.395B ▲ $-516.5M ▼ -14.64% ▼ $-0.43 ▼ $339.9M ▼
Q3-2024 $3.751B $1.233B $94.8M 2.527% $0.079 $905.8M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.108B ▲ $37.92B ▼ $22.703B ▼ $15.218B ▼
Q2-2025 $808.6M ▼ $38.411B ▼ $22.841B ▲ $15.57B ▼
Q1-2025 $1.002B ▼ $38.475B ▼ $22.825B ▼ $15.65B ▼
Q4-2024 $1.09B ▼ $41.501B ▼ $22.865B ▼ $18.636B ▼
Q3-2024 $2.048B $44.754B $24.962B $19.792B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-128.2M ▼ $744.9M ▲ $-98.9M ▼ $-228.1M ▲ $435.7M ▲ $645.2M ▲
Q2-2025 $-4.6M ▲ $219.7M ▼ $-52.5M ▲ $-362.4M ▲ $-188.5M ▼ $165.6M ▼
Q1-2025 $-3.042B ▼ $535.5M ▲ $-65.1M ▲ $-467M ▲ $20.2M ▲ $459.1M ▲
Q4-2024 $-516.5M ▼ $482.7M ▼ $-168.7M ▼ $-1.42B ▲ $-1.144B ▼ $329.3M ▼
Q3-2024 $94.8M $826.5M $1.748B $-1.637B $961.6M $741.1M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Brands
Brands
 $4.53Bn ▲$2.12Bn ▼$2.28Bn ▲$2.44Bn ▲
Generics
Generics
 $2.77Bn ▲$1.13Bn ▼$1.28Bn ▲$1.31Bn ▲

Five-Year Company Overview

Income Statement

Income Statement Viatris generates sizable, diversified revenue, but sales have been slowly drifting down over the past few years as older products mature and generic pricing remains under pressure. Profitability has been uneven: the company briefly produced solid earnings after the merger, but results have swung between small profits and losses, with the most recent year back in the red. Operating profit is thin, which leaves limited room to absorb shocks from price cuts, product losses, or restructuring costs. Overall, the income statement shows a large, established business that is still working through integration, portfolio reshaping, and cost issues to reach more consistent, durable profitability.

Balance Sheet

Balance Sheet The balance sheet shows a big asset base built through past deals and a global footprint, but also a meaningful amount of debt. Management has been steadily paying that debt down, which reduces financial risk over time, though leverage is still a key factor to watch. Shareholder equity remains solid, suggesting the company still has a sizable cushion, even as the asset base has gradually shrunk with divestitures and write-downs. Cash on hand is modest relative to total obligations, so the company remains dependent on ongoing cash generation and refinancing access rather than a very large cash war chest.

Cash Flow

Cash Flow Despite choppy accounting earnings, Viatris has consistently produced healthy operating cash flow, which is a major strength. Its regular investment needs in plants and equipment are not especially heavy compared with the cash the business generates, so free cash flow has been robust in most recent years. This cash has likely supported debt reduction, dividends, and buybacks, even while reported net income has been weak. The key question is whether the company can keep this strong cash generation going as older products face more competition and the business mix shifts toward new areas.

Competitive Edge

Competitive Edge Viatris holds a strong position in global generic and specialty medicines, with broad geographic reach, a large product portfolio, and deep expertise in complex formulations. Its scale and distribution network are difficult for smaller rivals to match, giving it advantages in manufacturing efficiency, regulatory know‑how, and market access. The Global Healthcare Gateway concept further monetizes that infrastructure by partnering with other drug developers. At the same time, the company operates in some of the most competitive and price-sensitive parts of the drug market, facing constant pressure from other generic giants, tender systems, and regulatory scrutiny, which can erode margins over time.

Innovation and R&D

Innovation and R&D The company is intentionally shifting from being mainly a traditional generics player toward higher-value, more differentiated products and partnerships. Its strengths include experience in complex generics, drug–device combinations, and an early lead in biosimilars, even after selling much of that business while retaining an economic stake. The current pipeline includes late‑stage programs in cardiovascular and autoimmune diseases, along with a push into complex injectables and eye-care therapies acquired through recent deals. The Global Healthcare Gateway adds another dimension, turning Viatris’s infrastructure itself into an innovation platform, but success depends on execution: advancing multiple pipeline assets through late-stage trials, managing regulatory risk, and proving that these newer, higher‑margin products can more than offset ongoing pressure in the base generics business.

Summary

Viatris is a large, globally diversified drug maker that generates substantial revenue and solid cash flow, but its reported earnings and sales growth have been under pressure as it digests past deals and contends with intense competition in generic medicines. Management appears focused on strengthening the foundation by paying down debt, tightening costs, and pruning the portfolio, while simultaneously pivoting toward more complex, innovative, and higher‑margin therapies and partnerships. The company’s scale, manufacturing depth, and distribution network are clear assets, and the Global Healthcare Gateway strategy attempts to turn those into a repeatable growth engine. The main uncertainties center on how quickly the new pipeline and strategic partnerships can deliver meaningful profit growth, and whether they can do so fast enough to offset ongoing price erosion and product lifecycle headwinds in the legacy portfolio.

NEWS

November 24, 2025 · 8:00 AM UTC

Viatris to Participate in Upcoming Investor Conferences

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November 13, 2025 · 8:00 AM UTC

Viatris Recognized as One of the Fortune World's Best Workplaces™ in 2025

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November 6, 2025 · 6:59 AM UTC

Viatris Reports Third Quarter 2025 Results and Updates 2025 Financial Guidance

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November 4, 2025 · 6:59 AM UTC

Viatris Announces Quarterly Dividend

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October 15, 2025 · 4:30 PM UTC

Viatris Completes Acquisition of Aculys Pharma Including Exclusive Rights to Pitolisant in Japan and to Spydia® in Japan and Certain Other Markets in the Asia-Pacific Region

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