Viatris Q1 earnings in focus amid plans to divest some European assets
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Viatris (NASDAQ:VTRS) is scheduled to announce Q1 earnings results on Monday, May 8th, before market open.
The consensus EPS Estimate is $0.70 (+112.1% Y/Y) and the consensus Revenue Estimate is $3.81B (-9.1% Y/Y).
Over the last 1 year, VTRS has beaten EPS estimates 88% of the time and has beaten revenue estimates 50% of the time.
Over the last 3 months, EPS estimates have seen 0 upward revisions and 4 downward. Revenue estimates have seen 0 upward revisions and 3 downward.
The company's stock dipped -2.69% on Feb. 27 after mixed Q4 results. Viatris saw a one-off gain of ~$1.8B related to its biosimilar divestiture which led to $1.0B GAAP net income. However, sales fell -10.6% Y/Y and also missed estimates.
Viatris has been mulling the sale of its European consumer-health assets and in March the company asked potential buyers to resubmit their offers. The company was originally trying to fetch €3B and was asking for offers for the whole unit, but later reconsidered selling parts of the portfolio and also exclude erectile-dysfunction drug Viagra.
During the quarter, Viatris also began a settlement with Merck over a patent dispute for diabetes drugs Januvia and Janumet.
Other News:
Viatris was among the three companies to sign an agreement with the United Nations-backed Medicines Patent Pool to produce generic versions of ViiV Healthcare's long-acting HIV prevention medicine for low income countries.
The company withdrew an application for generic HIV therapy Raltegravir Viatris in the EU.
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