The launch of Viatris A New Type of Global Healthcare Company
Viatris was announced today after a successful merger involving Mylan and Upjohn, formerly a division of Pfizer. As a result of the merger of these two major companies, Viatris will have a broad balance of expertise and capabilities in the fields of science, manufacturing and distribution, through a set of reliable global regulatory, medical and commercial capabilities that will enable it to provide high-quality healthcare to patients in more than 165 countries around the world.
Viatris embodies a new type of global healthcare company that aims to enable people around the world to live healthier in all stages of their lives, by enhancing their access to medicines everywhere and regardless of different circumstances. The company also seeks to develop responsible and sustainable operations and innovation activities directed at improving patient health, improving its pool of expertise, and providing the widest possible range of health products and services to the largest possible number of people.
Commenting on this, Robert J. Curry, CEO of Viatris, said: “Today we celebrate the launch of Viatris, which represents the fruit of a ten-year effort to build a global company with the presence and experience needed to enhance the levels of patients’ access around the world to medicines and systems. Quality healthcare. I also affirm my full confidence in the opportunities before Viatris and the value that we expect our company to bring to all stakeholders, from patients and employees to customers and shareholders. ”
On the other hand, Viatris remains committed to returning the value of capital to its shareholders in addition to distributing estimated profits of not less than 25% of free cash flow, based on operating cash flows excluding capital expenditures in accordance with accounting standards generally accepted in the United States of America, which It will start from the end of the first quarter of Viatris’ operations, with the possibility of increasing dividends at a later stage. The company also affirms its adherence to reducing its indebtedness to achieve a level of indebtedness to its market value at a rate of 2.5 times over time, in addition to its commitment to maintaining its investment-grade credit rating.
Viatris employs about 45,000 people, is based in the United States, and has global centers in Pittsburgh, Shanghai, and Hyderabad in India. The company’s global health products include more than 1400 pharmaceutical compounds approved in many major therapeutic fields that extend to infectious and non-communicable diseases, including a group of the best unique global brands, generic and generic drugs combined and branded, along with a growing group They are biosimilars and over-the-counter medicines.
Michael Gottler, CEO of Viatris, said: “We are beginning our journey with a management team of diverse experiences, a strong financial position and an excellent global infrastructure. Hand in hand, we work to develop an inclusive, interactive, performance-based culture that unites us all through Viatris’ mission to empower people around the world to live healthier lives throughout their lives. We have been keen to expand our presence and strengthen our global infrastructure to enhance access to medicines for patients around the world. Through our Global Healthcare Gateway ™, we will provide our partners with ideal opportunities to enter markets and reach customers and patients all over the world, making Viatris the preferred partner in healthcare. As part of our endeavor to establish Viatris, we will from the outset provide the company with the necessary structure and resources that bring sustainable value to patients, shareholders, customers and other interested parties. ”
Viatris provides reliable, high-quality medicines used to treat nine diseases out of ten that the World Health Organization classifies as the world’s leading cause of death. The company is also the leading provider of antiretrovirals able to treat HIV / AIDS and other infectious diseases. About 40% of the more than 23 million patients receive our drugs to treat HIV / AIDS, including 60% of children who test positive for the virus.
In this regard, Rajiv Malik, President of Viatris said: “Our exceptional capabilities in terms of enhancing access to healthcare and meeting the needs are based on our superior supply chain, our best scientific, regulatory and manufacturing capabilities in the world, as well as our broad commercial presence in many markets. And channels. Our firm and unwavering commitment to the quality of all our activities is at the core of the company’s operations, a feature that had always distinguished the two previous companies prior to the merger. We believe that the outcome of our commercial potential and the diversification of our health product portfolio across different geographies will enable us to enhance our ability to reach more clients and patients alike. We intend to leverage these strengthened capabilities to build the necessary strategic partnerships to help remove barriers to accessing quality healthcare, and to have a lasting positive impact on patients, families and communities around the world. ”
Sanjeev Narula, Chief Financial Officer at Viatris, said: “We expect to leverage the principles of financial discipline to enhance the position, resilience and resilience of our new company, and to open the door to new opportunities to help patients enjoy a healthier life. We look forward to launching the Investors’ Day event, which is expected to take place in the coming period between late February and early March.