Viatris Inc. Launches as a New Kind of Healthcare Company, Positioned to Meet the World's Evolving Healthcare Needs - Seite 3
Viatris Chief Financial Officer Sanjeev Narula said: "Through financial discipline, we expect to add to the strength, capability and flexibility of our new enterprise and open doors to new opportunities to help people live longer, healthier lives. We look forward to our Investor Day in the late February/early March timeframe where we will outline how Viatris can deliver on its stated commitments and our roadmap to maximize value creation, including our expectation to generate strong and accelerating free cash flows."
Viatris is embarking on a significant global restructuring program in order to achieve synergies of $1 billion and ensure the new company is optimally structured and efficiently resourced to deliver sustainable value to patients, shareholders, customers and other stakeholders. The company is currently in the process of defining the specific parameters of the program, including workforce actions and other restructuring activities. Further details for this program are expected to be disclosed by the end of this year as plans are finalized. Key activities of the expanded program are expected to reduce the company's cost base through the rationalization of its global manufacturing and supply network, and the optimization of the company's functional and commercial capabilities.
The combination of Mylan and Upjohn was announced on July 29, 2019 and received the final regulatory clearance on Oct. 30, 2020. Viatris will begin regular way trading on Nasdaq, under the ticker symbol VTRS, at the beginning of the trading day on Nov. 17, 2020, the first full trading day after closing.
Viatris Inc. (NASDAQ: VTRS) is a new kind of healthcare company, empowering people worldwide to live healthier at every stage of life. We provide access to medicines, advance sustainable operations, develop innovative solutions and leverage our collective expertise to connect more people to more products and services through our one-of-a-kind Global Healthcare Gateway. Formed in November 2020 through the combination of Mylan and Pfizer's Upjohn business, Viatris brings together scientific, manufacturing and distribution expertise with proven regulatory, medical and commercial capabilities to deliver high-quality medicines to patients in more than 165 countries and territories. Viatris' portfolio comprises more than 1,400 approved molecules across a wide range of therapeutic areas, spanning both non-communicable and infectious diseases, including globally recognized brands, complex generic and branded medicines, a growing portfolio of biosimilars and a variety of over-the-counter consumer products. With a global workforce of approximately 45,000, Viatris is headquartered in the U.S., with global centers in Pittsburgh, Shanghai and Hyderabad, India. Learn more at viatris.com and investor.viatris.com, and connect with us on Twitter at @ViatrisInc, LinkedIn and YouTube.