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On Thursday, Viatris Inc. (NASDAQ:VTRS) reported second-quarter revenues of $3.797 billion, marginally above the consensus of $3.777 billion, up ~2% on a divestiture-adjusted operational basis.
Brands net sales reached $2.36 billion, reflecting strong growth in Greater China and the expansion of the company’s portfolio in Emerging Markets and JANZ, partially offset by unfavorable channel dynamics in North America and the impact of government price regulations in Japan and Australia.
Related: Novartis And Viatris Sued Over Unlawful Use Of HeLa Cells Used For Cancer Treatment Drugs.
Generic net sales of $1.42 billion reflect strong growth from new product launch performances in Developed Markets, continued growth from complex products, and solid performance across the broader European portfolio.
The company generated approximately $210 million in new product revenues, primarily driven by Breyna, lisdexamfetamine, and other new products globally.
The company reported adjusted EPS of $0.69, down 8% year over year, beating the consensus of $0.68.
“I am pleased to report strong second quarter results in which we delivered divestiture-adjusted operational revenue growth across all segments, including strong growth in Greater China. This represents our fifth consecutive quarter of divestiture-adjusted operational revenue growth and demonstrates our ability to execute and grow our base business,” said Scott Smith, CEO.
Guidance: Viatris says strong year-to-date performance gives it confidence in raising its outlook to approximately $500 million to $600 million in new product revenues in 2024 from prior range of $450 million to $550 million.
Viatris expects 2024 sales of $14.6 billion – $15.1 billion versus the prior guidance of $14.98 billion – $15.48 billion and consensus of $14.956 billion.
The company expects 2024 adjusted EPS of $2.58 – $2.73, versus the prior guidance of $2.66 – $2.81 and the consensus of $2.73.
Price Action: VTRS stock is up 5.33% at $11.97 at last check Thursday.
Illustration of Phrama lab worker created with MidJourney.
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