Viatris to Benefit From an Optimized Business, Improving Pricing Trend, and Developing Pipeline

Viatris is one of the largest generic drug manufacturers in the world. Generic drugs make up about 40% of the firm's sales and, along with other generics manufacturers, they continues to suffer low- to mid-single-digit erosion year over year in developed markets like North America and the majority of Europe. Because price and margin headwinds exist predominantly in small-molecule oral tablets that are easy to produce, we expect Viatris’ future pipeline to focus more on complex generics—drugs that have complex formulations, dosage forms, or are injected or have more complex administration.