Viatris (VTRS) UBS Global Healthcare Conference summary

Operational performance and strategic pillars

• Achieved sixth consecutive quarter of year-over-year operational adjusted revenue growth, driven by both brands and generics.

• Delivered growth across all reported segments, with $133 million in new product revenue and tracking toward the upper end of $500–$600 million new product revenue for the year.

• Adjusted EBITDA and EPS grew 4% and 6% respectively in Q3; reiterated 2% top-line growth for the base business for the year.

• Strong balance sheet with $1.9 billion debt repaid and year-to-date free cash flow of $1.9 billion, targeting $2.3 billion ongoing annual cash flow.

• Continued execution on innovative pipeline, including clinical progress for selatogrel and cenerimod, and a new licensing agreement for sotagliflozin outside Europe and the U.S.

New product pipeline and 2025 outlook

• Confident in delivering $450–$550 million in new product revenue in 2025, supported by a diverse pipeline across regions and product types.

• 2025 new product revenue will include carryover from 2024 launches and new generics in North America and Europe, including glucagon, liraglutide, and iron sucrose.

• Regulatory processes ongoing for key products; GA Depot has an FDA meeting scheduled for December, with launches expected post-approval.

Capital allocation and business development

• Capital allocation framework targets a 50/25/25 split between business development, share repurchases, and dividends, driven by strong free cash flow.

• Framework is flexible over a 3–5 year horizon; more aggressive share repurchases planned for 2025.

• $1.5 billion remains authorized for share repurchases with no set timeline.

• Business development aims to accelerate base business growth to mid-single digits, focusing on both supporting the base and acquiring innovative assets.

• Emphasis on disciplined evaluation of opportunities, leveraging enhanced leadership and expertise in branded and innovative products.