Viatris IncNasdaq: VTRS
Health Care · Pharmaceuticals
$15.38
-2.26%
Vol: 11.0M
Research Digest
Friday, June 19, 2026
Viatris prices €650M senior notes due 2033 and repays $1.675B of maturing debt, as FDA accepts NDA for fast-acting meloxicam pain drug.
Viatris (VTRS) completed a €650 million 4.250% senior notes offering (closing June 17, 2026) and simultaneously repaid $1.675 billion of 3.950% Senior Notes at maturity on June 15, 2026, demonstrating active liability management. The FDA accepted for review a New Drug Application for MR-107A-02 (fast-acting meloxicam) for moderate-to-severe acute pain on May 18, 2026, adding a pipeline catalyst. Q1 2026 revenue was $3.5 billion (+8% reported, +3% operational), with adjusted EPS of $0.59 beating the $0.51 consensus. Full-year 2026 guidance was reaffirmed with midpoint revenue of $14.7B and adjusted EBITDA of $4.3B. The company also expects more than $2.5 billion of cash for deployment in 2026. A Japan approval for Effexor SR for generalized anxiety disorder was secured in March 2026.
Previous Market Intelligence
13 daysJun 18No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 17No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 16Viatris is set to close its €650 million 4.250% senior notes offering due 2033 on June 17, 2026, a capital-structure move to reshape debt after a strong Q1 that beat EPS estimates.Positive▶
Viatris entered an underwriting agreement to issue €650,000,000 of 4.250% Senior Notes due 2033, with the offering expected to close on June 17, 2026, a move analysts say is aimed at reshaping the company's capital structure. The euro debt sale follows a strong fiscal Q1 2026 in which adjusted EPS of $0.59 beat the $0.51 forecast and revenue of $3.52 billion topped the $3.35 billion estimate, sending shares up about 7.65% pre-market on the report. The stock has delivered roughly 92-104% total shareholder return over the past year. Analysts hold a Moderate Buy consensus, though Piper Sandler reiterated Hold on June 4, 2026. The bear case: Viatris still posted a net loss of $296.5 million, carries heavy debt it is now refinancing, and faces a complex regulatory and generic-pricing landscape.
Jun 15No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 14No significant overnight updatesNeutral▶
No material news in the last 48 hours.
May 21Viatris CFO Mistras departs; Q1 revenue up 8% to $3.5B, Truist and JPMorgan raise price targetsPositive▶
On May 4, Viatris announced CFO Theodora Doretta Mistras is leaving for a new opportunity; CAO Paul Campbell was named interim CFO effective May 8. Q1 results on May 7 showed total revenue up 8% to $3.5B (3% operational), with GAAP net earnings of $176M and 17% adjusted EPS growth; FY guidance was maintained. The FDA accepted the NDA for fast-acting meloxicam (MR-107A-02), a non-opioid acute pain treatment, with PDUFA goal date of Dec 27. Shares are up 58.2% over the last six months to ~$16.13. Truist raised PT to $20 from $18, JPMorgan to $18 from $17. Risk: CFO transition during execution of pipeline strategy adds management uncertainty; generic pricing pressure persists.
May 20Viatris beats Q1 2026 estimates with 8% revenue growth, sees CFO transition and FDA acceptance of non-opioid pain drugPositive▶
Viatris reported strong Q1 2026 results on May 7 with total revenues of $3.5B (+8% reported, +3% operational), GAAP net earnings of $176M, and adjusted EBITDA of $1.0B (+10% operationally). Adjusted EPS grew 17%, beating consensus, while full-year guidance of 3% revenue growth and 2% EPS growth was maintained. The FDA accepted the NDA for MR-107A-02 (fast-acting meloxicam), a non-opioid for moderate-to-severe acute pain, with a PDUFA date of December 27, 2026. The board declared a $0.12 quarterly dividend payable June 17. CFO Theodora Mistras announced her departure effective May 22, with Paul Campbell named interim CFO. Truist raised its price target to $20 from $18 on May 8, with JPMorgan also lifting its target.
May 19No significant overnight updatesNeutral▶
No material news in the last 48 hours.
May 18Viatris Q1 2026 revenue rose 8% to $3.52B with 17% adjusted EPS growth; Truist raised PT to $20, JPMorgan to $18 amid CFO transitionPositive▶
Viatris reported Q1 2026 revenue of $3.52 billion (8% reported, 3% operational growth) and 17% adjusted EPS growth, beating consensus and driving shares up ~5% intraday. Net earnings were $176 million. CFO Doretta Mistras departed for a new opportunity, with Paul Campbell named interim CFO effective May 8. The board declared a $0.12 quarterly dividend payable June 17. Truist raised its price target to $20 from $18 and JPMorgan raised to $18 from $17 on May 8. Viatris presented at the BofA 2026 Healthcare Conference on May 12. Six abstracts on its investigational low-dose estrogen contraceptive patch (including positive Phase 3 efficacy/safety data) were presented at ACOG 2026.
May 15Viatris Q1 2026 revenue up 8% to $3.52B with adjusted EBITDA up 10% operationally, CFO transition announced and Truist raises PT to $20Positive▶
Viatris (VTRS) reported Q1 2026 revenue of $3.52B up 8% reported (3% operational) on May 7, 2026 with U.S. GAAP net earnings of $176M and adjusted EBITDA of $1.0B up 10% operationally, with adjusted EPS up 17%. Both topped FactSet consensus and shares traded up about 5% intraday. CFO Theodora Mistras departed for a new opportunity and Paul Campbell, current Chief Accounting Officer, was named interim CFO effective May 8, 2026. Following the print, Truist raised its price target to $20 from $18 with a Buy rating and JPMorgan raised to $18 from $17 initiating Buy. Viatris reaffirmed 2026 financial guidance and highlighted more than $2.5B of cash available for deployment. New launches included Effexor in Japan. Viatris presented at the BofA Securities 2026 Healthcare Conference on May 12, 2026.
May 14Viatris Q1 2026 revenue of $3.52B beats and adjusted EPS of $0.59 tops estimates; CFO Mistras departsPositive▶
Viatris reported Q1 2026 revenue of $3.52B (+8% reported, +3% operational) with adjusted EBITDA of $1.0B (+10% operational) and adjusted EPS of $0.59. Full-year guidance reaffirmed. CFO Doretta Mistras announced May 4 departure; Paul Campbell named interim CFO. Truist raised PT to $20 from $18 (Buy) and JPMorgan to $18 from $17 on May 8. Company will present at BofA Healthcare Conference May 12 and declared $0.12 dividend with May 22 ex-date. Risk: management transition and biosimilar/generic pricing pressure.
May 13Viatris beat Q1 estimates with $0.59 EPS and $3.52B revenue (+8% YoY); board declared a $0.12 dividend but CFO Doretta Mistras announced departure.Mixed▶
Viatris reported Q1 2026 on May 7 with revenue of $3.52B (up 8% YoY) and adjusted EPS of $0.59 versus $0.51 consensus, driven by strong Greater China and North America performance plus double-digit branded sales growth. The company reaffirmed FY2026 guidance. The board declared a $0.12 quarterly dividend payable June 17 (record date May 22). CFO Theodora Doretta Mistras is departing for a new opportunity. Six abstracts on Viatris' Phase 3 low-dose estrogen weekly contraceptive patch were presented at the ACOG meeting May 1-3. Truist raised PT to $20 and JPMorgan to $18.
May 12Viatris beat Q1 2026 (revenue $3.5B +8%, adj EPS $0.59), named Paul Campbell interim CFO, raised by Truist to $20 PT; presents at BofA Healthcare Conference May 12.Positive▶
Viatris on May 7, 2026 reported Q1 2026 revenue of $3.52B, up 8% YoY, with adjusted EPS of $0.59 surpassing expectations and Greater China sales +22%; U.S. GAAP net earnings of $176M. Management reaffirmed FY26 guidance and reiterated >$2.5B of deployable cash in 2026. CFO Doretta Mistras is departing; Paul Campbell named interim CFO effective May 4. The Board declared a $0.12 quarterly dividend. Six abstracts on Viatris' investigational low-dose estrogen contraceptive patch were presented at ACOG May 1-3. Truist raised PT to $20 (Buy) and JPMorgan to $18. Viatris presents at the Bank of America Healthcare Conference on May 12.
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| VTRSVIATRIS | $15.38 | -2.26% | +4.8% | 6.3x | 0.90 | $19.4B |
| LLYELI | $1,099.89 | -1.09% | +8.7% | 27.3x | 0.51 | $1.08T |
| JNJJOHNSON | $228.45 | -2.46% | +9.2% | 20.7x | 0.23 | $633.2B |
| MRKMERCK | $114.08 | -1.18% | +7.4% | 13.5x | 0.20 | $320.0B |
| PFEPFIZER | $25.28 | -2.49% | +1.2% | 8.6x | 0.31 | $138.6B |
| BMYBRISTOL | $54.15 | -2.05% | +5.7% | 9.4x | 0.23 | $118.7B |
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