Viatris To Shed OTC, APIs And Women’s Health As Biocon Deal Nears Completion
Expecting Further $5bn-$6bn In Pre-Tax Proceeds, As Two Acquisitions Announced
Viatris has marked an important inflection point in its short life, announcing several more planned divestitures alongside the proposed acquisition of a pair of eyecare companies for up to $750m in cash.
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In 2024, Viatris will initiate the second phase of its long-term business plan, which will see it step away from the perceived volatility of the generics space and begin to move toward innovative and high-growth products. The past year has seen it lay the groundwork for this pivot, shedding surplus business units and making significant hires from the branded space.
Viatris has again the lauded the potential of its complex injectables and steriles pipeline, as it looks to build a business generating revenues of up to $1bn per year within the next five years.
The acquisition and consolidation mania that gripped industry in the middle half of the last decade may seem like a distant dream but players continued to spend cash where it could be justified in 2022, while raising much-needed capital to fund their endeavors.