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Viatris Inc.
NASDAQ: VTRS Healthcare Pharma 🔎 Screen
S&P 500
🏹 Trader: 🚀 Stage 2 + Near High 📈 Stage 2 🎯 Near 52W High 💎 VCP Breakout | BRS 81 Ready View all →
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$19.1B
Market Cap
216.6
P/E
0.53
PEG
-8.5%
ROCE
-21.1%
ROE
0.85
D/E
-18.6%
OPM
-5.7%
% from 52W High
81
α RS
🔍 VTRS is showing a sector-leadership setup because Sector RRG has Health Care in the Leading quadrant with the trail still strengthening, RS Rating is 81, and an ECS of 77.2 last quarter. Net: Broad signal stack, not a recommendation. ? RRG RS Rating ECS
Sources
Health Care in Leading quadrant · RS Rating 81 · ECS 77.2
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🌏 Global Investor Returns
Currency-adjusted total returns for VTRS including FX impact
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📈 Price History
Ratio Health
Excellent
Good
Average
Poor
By Category
📊 Sector Averages
About

Viatris Inc., together with its subsidiaries, operates as a healthcare company in North America, Europe, China, Taiwan, Hong Kong, Japan, Australia, New Zealand, rest of Asia, Africa, Latin America, and the Middle East.

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📈 Growth Pattern
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⭐ Superinvestors Holding VTRS
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Manager Shares Value % of Fund Period
Steve Cohen Point72 Asset Management 1.78M $24.0M 0.03% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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Good quarter Investor Presentation One-Pager? Q2 2026
Revenue
$3.8B
+3.5% YoY operational
Adjusted EBITDA
$1.2B
+8% YoY operational
Adjusted Net Earnings
$808.5M
+11% YoY
Adjusted EPS
$0.69
+9% YoY operational
Net Income (GAAP)
-$118.8M
vs -$4.6M loss YoY
What Went Right
  • Q2 total revenues of $3.8B were ahead of expectations with 3.5% operational growth.
  • Adjusted EBITDA grew 8% operationally to $1.2B and adjusted EPS rose 9% to $0.69.
  • Greater China continued to outperform, with net sales up 16% operationally and e-commerce sales up 36%.
What to Watch
  • Nashik facility fire and May FDA inspection are expected to cut H2 revenue by $100M-$150M, mostly low-margin generics.
  • China procurement policy change could slow hospital-channel volumes, with execution varying by province.
  • H2 developed-market competition is expected to intensify, including Breyna and estradiol in North America.
Management Guidance
  • Full-year 2026 guidance raised at midpoint across all key metrics; no updated dollar ranges were provided on the call.
  • H2 total revenues expected to be ~51% of full-year output; adjusted EBITDA and adjusted EPS expected slightly lower in H2; free cash flow more weighted to H2.
  • FY segment outlook: Greater China low double-digit growth, developed markets roughly flat, emerging markets low single-digit growth, JANZ low single-digit decline.
Investor Lens
The thesis is stronger after Q2: Viatris beat expectations, raised full-year guidance, and has near-term catalysts including Gwyn Lo, fast-acting meloxicam, and Selatogrel/Cenerimod readouts in H1 2027. Capital flexibility is improving with $1.6B of deployable H2 capital, including Biocon proceeds, and gross leverage down to 2.9x. That said, the raised guide embeds a H2 slowdown from China policy changes, developed-market competition, and the Nashik disruption, so execution on launches and remediation is key to sustaining momentum.
From investor presentation · AI-generated analysis · Not investment advice
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📈 STRONG Strong beat-and-raise: Q2 revenue $3.8B, adjusted EPS $0.69.
Revenue
Q2 total revenues were $3.8B, up 3.5% operationally YoY and above expectations. Greater China led with +16% operational growth and e-commerce +36%; developed markets rose 2%, emerging markets fell 2%, and JANZ was flat operationally.
Profitability
Adjusted net earnings rose 11% to $808.5M and adjusted EPS increased 9% operationally to $0.69. GAAP net loss widened to $118.8M from $4.6M in Q2 2025.
Margins
Adjusted gross margin improved ~90bp to 57.5%, driven by Greater China mix and North American complex generics/transdermal mix. Operating expenses declined as a percentage of revenue due to SG&A discipline and strategic-review savings; GAAP gross margin was 38.8% versus 37.2%.
Balance Sheet
Gross leverage finished Q2 at 2.9x, below the 2.8x-3.2x target midpoint. Q2 free cash flow was $329M, or $449M excluding transaction/restructuring costs, and Viatris repaid $900M of maturing debt; H2 deployable capital is ~$1.6B including ~$380M Biocon proceeds.
Key Risks
Management flagged $100M-$150M of H2 revenue impact from Nashik supply disruptions, with Q3 impact larger than Q4. China's provincial procurement policy could slow hospital-channel volumes, and developed-market competition on Breyna and estradiol is expected to increase in H2.
Outlook
Viatris raised its 2026 guidance midpoints for all key metrics and expects H2 revenue to be about 51% of full-year output. Adjusted EBITDA and adjusted EPS are expected to be slightly lower in H2, with free cash flow more heavily weighted to H2.
Generated by AI · Q2 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-08-06
Q2 revenues grew 3.5% year-over-year to $3.8 billion, with strong performance in Greater China and North America driving a guidance raise for all key 2026 metrics. Pipeline progress, cost savings, and capital returns support long-term growth, despite supply and policy headwinds.
Q1 2026 Q1 2026 2026-05-07
Q1 2026 saw 3% revenue growth to $3.5B and 10% adjusted EBITDA growth, led by strong performance in Greater China and North America. Multiple product launches and regulatory milestones are expected in 2026, with reaffirmed guidance and a focus on operational efficiency and capital allocation.
Q4 2025 Q4 2025 2026-02-26
2025 saw 2% revenue growth and strong pipeline progress, with $14.3B in revenue and $4.2B Adjusted EBITDA. Strategic review identified $650M in cost savings, supporting 2% growth guidance for 2026 and multiple product launches. Over $1B was returned to shareholders.
Q3 2025 Q3 2025 2025-11-06
Q3 2025 saw solid operational growth, strong free cash flow, and increased capital returns. Strategic review and pipeline progress, including fast-acting meloxicam and new CNS assets, position the company for sustained growth. Indore remediation and market dynamics remain key watchpoints.
Q2 2025 Q2 2025 2025-08-07
Q2 2025 saw 3% operational revenue growth (ex-indoor), strong pipeline progress, and robust performance in Europe and Greater China. Guidance for 2025 is reaffirmed, with expectations to hit the top half of revenue and EPS ranges, and no material tariff impact anticipated.
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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Information Sources:
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