Growing Base Business Evolving Into More Durable Portfolio of Higher-Margin Generics, Value-Added Medicines and Established Brands
Expecting Impactful Near-Term Launches, Including Fast-Acting Meloxicam and Low-Dose Estrogen Weekly Patch in the U.S., and Pitolisant and Effexor® for GAD in Japan
Unlocking Long-Term Value Through Potential Blockbusters Selatogrel and Cenerimod
Strong Cash Flow Generation Enabling Capital Return and Disciplined Business Development
Providing Long-Term Targets for Sustained Growth Through 2030
PITTSBURGH, March 19, 2026 /PRNewswire/ -- Viatris Inc. (Nasdaq: VTRS) will host its Investor Event today, where members of the executive leadership team will outline the Company's strategic vision, key drivers and financial framework expected to deliver sustained revenue and earnings growth through 2030.
Executive Commentary
"Over the past several years, we have taken decisive actions to strengthen the foundation of Viatris by simplifying the portfolio, strengthening the balance sheet and stabilizing the base business," said
Scott A. Smith
, CEO, Viatris. "Today, we are entering the next phase of our evolution. With a growing base business, multiple anticipated near-term launches, a promising innovative pipeline and the financial flexibility to pursue disciplined accretive business development, we believe Viatris is well positioned to deliver sustained revenue and earnings growth through the end of the decade while continuing to create value for patients and shareholders."
"Our diversified portfolio and strong cash flow generation provide significant financial flexibility to invest in growth while maintaining a disciplined capital allocation framework," said
Doretta Mistras
, CFO, Viatris. "We expect to have more than $11 billion in cash available for deployment through 2030, which would enable us to return capital to shareholders and pursue accretive business development to further strengthen our long-term growth profile."
Key Elements to be Highlighted at the Investor Event
During the event, the Company will highlight key elements supporting its long-term growth targets, including its:
Strategic vision and priorities
R&D capabilities and pipeline overview
Commercial capabilities and building blocks of growth
Portfolio strategy and business development
Financial framework for accelerating shareholder value
The Company believes these elements collectively support its framework for delivering sustained revenue and earnings growth through 2030.
Long-Term Financial Targets and Capital Allocation
At the event, the Company will also outline its long-term financial targets through 2030, including the capital allocation framework intended to support its future growth.
For its Combined Long-Term Targets through 2030, the Company expects to deliver 5% to 6% Total Revenues CAGR, 7% to 8% Adjusted EBITDA CAGR, 9% to 10% Adjusted EPS CAGR and more than $3 billion in annual free cash flow in 2030.
The Combined Long-Term Targets are comprised of the Company's Base Case Long-Term Targets and Potential Additional Drivers.
For its Base Case Long-Term Targets through 2030, Viatris expects its base business, supported by anticipated upcoming launches of value-added medicines, to deliver 3% to 4% Total Revenues CAGR, 4% to 5% Adjusted EBITDA CAGR, including operating leverage from the cost savings resulting from its Enterprise-Wide Strategic Review, 6% to 7% Adjusted EPS CAGR, including the benefit from future expected share repurchases, and more than $2.7 billion in annual free cash flow in 2030.
As part of its recently completed Enterprise-Wide Strategic Review, Viatris identified approximately $650 million in gross cost savings over a three-year period, with up to $250 million expected to be reinvested in the Company.
Potential Additional Drivers include expected growth from accretive business development and the potential launches of selatogrel and cenerimod.
The Company expects more than $11 billion in cash available for deployment through 2030 under its Base Case Long-Term Targets and has assumed that approximately 50% of the cash available for deployment through 2030 will be allocated to disciplined accretive business development.
Investor Event Webcast
A live webcast of the Investor Event will begin today at 10:00 a.m. ET and can be accessed on the Company's website at investor.viatris.com. Presentation materials and a replay of the webcast will also be available on the Company's website.
Certain Key Terms and Presentation Matters
Revenue and Earnings
: Refers to Total Revenues, Adjusted EBITDA and Adjusted EPS.
Key Exchange Rates
Our 2026 financial guidance and long-term financial targets are based on the following budgeted exchange rates: Euro ($/EUR) 0.87, China Renminbi ($/CNY) 7.19, Japanese Yen ($/JPY) 144.35, and Indian Rupee ($/INR) 85.80.
About Viatris
Viatris Inc. (Nasdaq: VTRS) is a global healthcare company whose mission is to empower people worldwide to live healthier at every stage of life. We meet the needs of patients around the world by acting decisively with ingenuity and resolve. Whether we're developing new medicines, working to maintain a resilient supply of needed therapies, or pursuing bold innovation, we deliver solutions that are effective at scale and built to endure. We're purpose-built to make an impact with a dynamic portfolio that spans generics, established brands and innovative medicines that address areas of significant unmet need. We are headquartered in the U.S., with global centers in Pittsburgh, Shanghai, China, and Hyderabad, India. Learn more at viatris.com and investor.viatris.com, and connect with us on LinkedIn, Instagram, YouTube and X.
Forward-Looking Statements
This press release contains "forward-looking statements". These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may include, without limitation, statements about: long-term financial targets; vision for sustained revenue and earnings growth through 2030; growing base business evolving into more durable portfolio of higher-margin generics, value-added medicines and established brands; expecting impactful near-term launches, including fast-acting meloxicam and low-dose estrogen weekly patch in the U.S., and pitolisant and Effexor® for GAD in Japan; unlocking long-term value through potential blockbusters selatogrel and cenerimod; strong cash flow generation enabling capital return and disciplined business development; providing long-term targets for sustained growth through 2030; the Company's strategic vision, key drivers and financial framework expected to deliver sustained revenue and earnings growth through 2030; today, we are entering the next phase of our evolution; with a growing base business, multiple anticipated near-term launches, a promising innovative pipeline and the financial flexibility to pursue disciplined accretive business development, we believe Viatris is well positioned to deliver sustained revenue and earnings growth through the end of the decade while continuing to create value for patients and shareholders; our diversified portfolio and strong cash flow generation provide significant financial flexibility to invest in growth while maintaining a disciplined capital allocation framework; we expect to have more than $11 billion in cash available for deployment through 2030, which would enable us to return capital to shareholders and pursue accretive business development to further strengthen our long-term growth profile; key elements supporting long-term growth targets, including: strategic vision and priorities, R&D capabilities and pipeline overview, commercial capabilities and building blocks of growth, portfolio strategy and business development, financial framework for accelerating shareholder value; the Company believes these elements collectively support its framework for delivering sustained revenue and earnings growth through 2030; the capital allocation framework intended to support its future growth; Combined Long-Term Targets through 2030 of 5% to 6% Total Revenues CAGR, 7% to 8% Adjusted EBITDA CAGR, 9% to 10% Adjusted EPS CAGR and more than $3 billion in annual free cash flow in 2030; Combined Long-Term Targets are comprised of the Company's Base Case Long-Term Targets and Potential Additional Drivers; for Base Case Long-Term Targets through 2030, Viatris expects its base business, supported by anticipated upcoming launches of value-added medicines, to deliver 3% to 4% Total Revenues CAGR, 4% to 5% Adjusted EBITDA CAGR, including operating leverage from the cost savings resulting from its Enterprise-Wide Strategic Review, 6% to 7% Adjusted EPS CAGR, including the benefit from future expected share repurchases, and more than $2.7 billion in annual free cash flow in 2030; as part of its recently completed Enterprise-Wide Strategic Review, Viatris identified approximately $650 million in gross cost savings over a three-year period, with up to $250 million expected to be reinvested in the Company; Potential Additional Drivers include expected growth from accretive business development and the potential launches of selatogrel and cenerimod; the Company expects more than $11 billion in cash available for deployment through 2030 under its Base Case Long-Term Targets and has assumed that approximately 50% of the cash available for deployment through 2030 will be allocated to disciplined accretive business development; the goals or outlooks with respect to the Company's strategic initiatives and priorities, including but not limited to divestitures, acquisitions, strategic alliances, collaborations and partnerships, or other potential transactions; the anticipated benefits of such strategic initiatives or priorities, or restructuring activities; future opportunities for the Company and its products; regulatory submissions and decisions; the outcomes of clinical trials and research studies; R&D and new product development; launch plans; and any other statements regarding the Company's future operations, financial or operating results, capital allocation, dividend policy and payments, share repurchases, debt ratio and covenants, anticipated business levels, future earnings, planned activities, anticipated growth, market opportunities, strategies, imperatives; competitions, commitments, confidence in future results, efforts to create, enhance or otherwise unlock value, and other expectations and targets for future periods. Forward-looking statements may often be identified by the use of words such as "will", "may", "could", "should", "would", "project", "believe", "anticipate", "expect", "plan", "estimate", "forecast", "potential", "pipeline", "intend", "continue", "target", "seek" and variations of these words or comparable words. Because forward-looking statements inherently involve risks and uncertainties, actual future results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to: the possibility that the Company may not realize the intended benefits of, or achieve the intended goals or outlooks with respect to, its strategic initiatives and priorities; the possibility that the Company may be unable to achieve the intended or expected benefits of its enterprise-wide strategic review and related cost-saving and restructuring activities within the expected timeframe or at all; the possibility that the Company may be unable to achieve intended or expected benefits in connection with divestitures, acquisitions, strategic alliances, collaborations, or other transactions, or restructuring programs, within the expected timeframes or at all; goodwill or impairment charges or other losses; success of clinical trials and the Company's or its partners' ability to execute on new product opportunities and develop, manufacture and commercialize products; any changes in or difficulties with the Company's manufacturing facilities, including with respect to short- or long-term shutdowns, inspections, remediation and restructuring activities, supply chain continuity, inventory management, or the ability to meet anticipated demand; the Company's failure to achieve expected or targeted future financial and operating performance and results; the potential impact of natural or man-made disasters, public health outbreaks, fires, accidents, weather, unrest or other emergencies in regions where we or our partners or suppliers operate; actions and decisions of healthcare and pharmaceutical regulators; changes in relevant laws, regulations and policies and/or the application or implementation thereof, including but not limited to tax, healthcare and pharmaceutical laws, regulations and policies globally; the ability to attract, motivate and retain key personnel; the Company's liquidity, capital resources and ability to obtain financing; any regulatory, legal or other impediments to the Company's ability to bring new products to market; products in development that receive regulatory approval may not achieve expected levels of market acceptance, efficacy or safety; longer review, response and approval times as a result of evolving regulatory priorities and reductions in personnel at health agencies; the scope, timing and outcome of any ongoing legal proceedings, including government inquiries or investigations, and the impact of any such proceedings on the Company; any significant breach of data security or data privacy or disruptions to our IT systems; risks associated with having significant operations globally; the ability to protect intellectual property and preserve intellectual property rights; changes in third-party relationships; the effect of any changes in the Company's or its partners' customer and supplier relationships and customer purchasing patterns, including customer loss and business disruption being greater than expected following an adverse regulatory action, acquisition or divestiture; the impacts of competition, including decreases in sales or revenues as a result of the loss of market exclusivity for certain products; changes in the economic and financial conditions of the Company or its partners; uncertainties regarding future demand, pricing and reimbursement for the Company's products; uncertainties and matters beyond the control of management, including but not limited to general political and economic conditions, potential for adverse impacts from future tariffs and trade restrictions, inflation rates and global exchange rates; and inherent uncertainties involved in the estimates and judgments used in the preparation of financial statements, and the providing of estimates of financial measures, in accordance with U.S. GAAP and related standards or on an adjusted basis.
For more detailed information on the risks and uncertainties associated with Viatris Inc. ("Viatris" or the "Company"), see the risks described in Part I, Item 1A of the Company's Annual Report on Form 10-K for the year ended December 31, 2025, and our other filings with the SEC. You can access Viatris' filings with the SEC through the SEC website at or through our website and Viatris strongly encourages you to do so. Viatris routinely posts information that may be important to investors on our website at investor.viatris.com, and we use this website address as a means of disclosing material information to the public in a broad, non-exclusionary manner for purposes of the SEC's Regulation Fair Disclosure (Reg FD). The contents of our website are not incorporated into this press release or our filings with the SEC. Viatris undertakes no obligation to update any statements herein for revisions or changes after the date of this press release other than as required by law.
In particular, certain statements in this release relate to our "long-term financial targets", including but not limited to providing long-term targets for 2026-2030, including base case long-term target CAGR of 3-4% for Total Revenues, 4-5% for Adjusted EBITDA, 6-7% for Adjusted EPS; >$2.7B base case long-term target for free cash flow by 2030; potential additional drivers for selatogrel and cenerimod of +1% for total revenues and 0% for Adjusted EBITDA and Adjusted EPS; potential additional drivers for accretive business development of 1% for Total Revenues and 3% for Adjusted EBITDA and Adjusted EPS; combined long-term target CAGR of 5-6% for Total Revenues, 7-8% for Adjusted EBITDA and 9-10% for Adjusted EPS; >$3B combined long-term target free cash flow by 2030; and >$11 billion in cash available for deployment by 2030. Viatris believes that the assumptions used as a basis for the long-term financial targets are reasonable based on the information available to management at this time. However, this information is not fact, and you are cautioned not to place undue reliance on any such information. While certain of these statements might use language that imply a level of certainty about the likelihood that Viatris will attain its long-term financial targets, it is possible that Viatris will not attain them in the timeframe noted or at all. The long-term financial targets reflect assumptions as to key exchange rates as well as regarding certain business decisions that are subject to change. Important factors that may affect actual results and cause the long-term financial targets not to be achieved, or that may change the underlying variables and assumptions on which the long-term financial targets were based and cause the long-term financial targets to differ materially, include, but are not limited to, risks and uncertainties relating to our strategic priorities and initiatives, restructuring activities, inability to manage base business erosion, failure to bring new products to market on the expected timeframes or at all, failure to execute stock repurchases consistent with current expectations, stock price volatility, higher than anticipated SG&A, gross margins and R&D spend, industry performance, interest rate volatility, foreign exchange rates, tax rates, the regulatory environment and general business and economic conditions, as well as those set forth in the first paragraph of this "Forward Looking Statements" slide. In addition, although certain of the long-term financial targets are presented with numerical specificity, they are still forward-looking statements that involve inherent risks and uncertainties. Further, the long-term financial targets cover multiple years and such information by its nature becomes less reliable with each successive year. Accordingly, there can be no assurance that any aspect of long-term financial targets will be realized or that actual results will not differ materially. Therefore, you should construe these statements regarding the long-term financial targets only as goals, targets and objectives rather than promises of future performance or absolute statements.
Non-GAAP Financial Measures
This press release includes the presentation and discussion of certain financial information that differs from what is reported under accounting principles generally accepted in the United States ("U.S. GAAP"). These non-GAAP financial measures, including, but not limited to, adjusted EBITDA, free cash flow, and adjusted EPS are presented in order to supplement investors' and other readers' understanding and assessment of the financial performance of Viatris. Free cash flow refers to U.S. GAAP net cash provided by operating activities less capital expenditures. Adjusted EBITDA refers to as U.S. GAAP net earnings (loss) adjusted for income tax provision (benefit), interest expense and depreciation and amortization (to calculate EBITDA) and further adjusted for share-based compensation expense, litigation settlements and other contingencies, net, loss on divestitures of businesses, impairment of goodwill and restructuring, acquisition and divestiture related and other special items. Adjusted EPS refers to adjusted net earnings divided by the weighted average number of diluted shares of common stock outstanding. Investors and other readers should consider non-GAAP measures only as supplements to, not as substitutes for or as superior measures to, the measures of financial performance prepared in accordance with U.S. GAAP.
Long-Term Financial Targets
The Company is not providing forward-looking information for U.S. GAAP net (loss) earnings, EPS or U.S. GAAP net cash provided by operating activities or a quantitative reconciliation of its long-term targets for adjusted EBITDA CAGR, adjusted EPS CAGR and free cash flow to their most directly comparable U.S. GAAP measures, U.S. GAAP net earnings (loss) CAGR, EPS CAGR and U.S. GAAP net cash provided by operating activities, respectively, because it is unable to predict with reasonable certainty the ultimate outcome of certain significant items, including integration, acquisition and divestiture-related expenses, restructuring expenses, asset impairments, litigation settlements, future share repurchases, and other contingencies, such as changes to contingent consideration, acquired IPR&D and certain other gains or losses, including for the fair value accounting impact for equity investments, as well as related income tax accounting because certain of these items have not occurred, are out of the Company's control and/or cannot be reasonably predicted without unreasonable effort. These items are uncertain, depend on various factors, and could have a material impact on U.S. GAAP reported results for the relevant periods.
SOURCE Viatris Inc.
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