Viatris

Viatris Inc.

Company type	Public
Industry	Pharmaceuticals, Healthcare
Predecessor	Mylan, Upjohn (Pfizer unit)
Founded	November 16, 2020 (2020-11-16) in Canonsburg, Pennsylvania, USA
Headquarters	Canonsburg , United States
Key people	Scott A. Smith (CEO)
Products	Pharmaceuticals (generics, branded, biosimilars, OTC), active pharmaceutical ingredients
Website	www.viatris.com

Viatris Inc. is a multinational pharmaceutical and healthcare enterprise based in Canonsburg, Pennsylvania, USA. The company was established on November 16, 2020, following the combination of Mylan and Upjohn, a historic unit of Pfizer.

The name Viatris originates from the Latin words via meaning path, and tris meaning three, symbolizing its dedication to three core goals: broadening access to medications, innovating to fulfill patient requirements, and building trust within the healthcare sector.

In the 2021 Fortune 500 rankings, Viatris secured the 254th position based on its revenue figures from 2020.

History

On November 16, 2020, a Reverse Morris Trust transaction united Upjohn and Mylan, resulting in the formation of Viatris with Michael Goettler appointed as CEO. The company commenced trading on NASDAQ under the ticker symbol VTRS.

In December 2020, Viatris revealed a global restructuring strategy aimed at reducing expenses by eliminating up to 20% of its workforce worldwide, equating to roughly 9,000 positions.

By 2021, Viatris achieved the 5th spot on Fortune’s "Change the World" list due to its significant contributions to HIV treatment through affordable antiretroviral therapies and specialized pediatric options.

In February 2022, Viatris entered into an agreement to transfer its biosimilars portfolio and associated expertise to Biocon Biologics in exchange for up to $3.335 billion and a minimum equity stake of 12.9%. This transaction was finalized in November 2022.

Later in November 2022, Viatris consented to acquire Oyster Point Pharma and Famy Life Sciences for between $700 million and $750 million, aiming to establish a dedicated ophthalmology division; these acquisitions were completed by January 2023.

For its workplace excellence, Viatris was recognized by Forbes as one of the world’s premier employers in both 2022 and 2024, and by Newsweek as one of America’s most responsible corporations. In April 2023, LinkedIn included Viatris among the top 25 companies for employment in India and career growth opportunities in Ireland.

Scott A. Smith succeeded Michael Goettler as CEO on April 1, 2023; Smith had been a board member since 2022.

In May 2023, USA Today highlighted Viatris among American firms that successfully decreased greenhouse gas emission intensity between 2019 and 2021. Additionally, the company appeared on the Forbes Global 2000 list in June 2023.

In October 2023, Viatris agreed to sell nearly all of its over-the-counter product business, women’s health segment, and India-based active pharmaceutical ingredients division for approximately $3.6 billion.

In December 2024, the U.S. Food and Drug Administration issued a warning letter along with an import alert concerning quality control and manufacturing issues at Viatris’ Indore facility. As a result, imports of eleven products were suspended until compliance improvements were made; however, four products received conditional exemptions due to supply shortages. Viatris announced plans to implement corrective measures in response.

Predecessors

Significant mergers and acquisitions that shaped the company include:

• Viatris
  • Formation through the merger of Mylan and Upjohn
    • Mylan (Established 1961, merged with Upjohn in 2020)
      • Somerset Pharmaceuticals (Acquired 1989)
      • Dow B. Hickam (Acquired 1991)
      • Bertek Inc (Acquired 1993)
      • UDL Laboratories (Acquired 1996)
      • Penederm Inc (Acquired 1998)
      • Matrix Laboratories (Acquired 2007)
      • Merck KGaA (Generics division) (Acquired 2007)
      • Bioniche Pharma Holdings (Acquired 2010)
      • Pfizer Respiratory Delivery Platform (Acquired 2011)
      • Agila Specialties (Acquired 2013)
      • Abbott Laboratories (Generics division) (Acquired 2014)
      • Famy Care (Acquired 2014)
      • Meda (Acquired 2016)
      • Renaissance Acquisition Holdings (Dermatology division) (Acquired 2016)
    • Upjohn (Spun off from Pfizer and merged with Mylan in 2020)
  • Famy Life Sciences (Acquired 2023)
  • Oyster Point Pharma (Acquired 2023)

Products

Viatris's product lineup includes around 1,400 approved therapeutic agents, featuring well-known brands such as Viagra, Xanax, and Lipitor. The portfolio spans generics, branded and complex generics, biosimilars, over-the-counter medications, and active pharmaceutical ingredients. Their offerings cover major therapeutic fields including cardiovascular health, infectious diseases, oncology, immunology, central nervous system disorders, anesthesia, women's health, diabetes and metabolism, gastroenterology, respiratory and allergy conditions, as well as dermatology.

Recent important product introductions and regulatory approvals consist of:

• Dolutegravir: Received FDA approval in December 2020 for pediatric HIV/AIDS treatment in low- to middle-income nations; formulated with a strawberry flavor and priced at a 75% discount to enhance patient access.
• Breyna (budesonide and formoterol fumarate dihydrate inhalation aerosol): Approved by the FDA in March 2022 as the first generic alternative to Symbicort for managing asthma and COPD.
• GA Depot (long-acting glatiramer acetate): FDA accepted the New Drug Application in August 2023 for a once-monthly injection targeting relapsing multiple sclerosis.
• Abacavir/dolutegravir/lamivudine: Granted tentative FDA approval in September 2023 under PEPFAR for treating pediatric HIV-1 infection.
• Ryzumvi (phentolamine ophthalmic solution 0.75%): FDA authorized in September 2023 for treating pharmacologically induced mydriasis; previously known as Nyxol.

Partnerships

Following its establishment, Viatris became a member of the Biosimilars Forum to promote broader biosimilar utilization.

The company partnered with the American College of Cardiology, NCD Alliance, and World Heart Federation to create the NCD Academy—a global initiative focused on non-communicable disease education.

In December 2020, Viatris collaborated with Sesame Workshop to develop materials aimed at supporting children's social and emotional wellbeing during the COVID-19 crisis.

In April 2021, Viatris joined forces with Atomo Diagnostics and Unitaid to enhance HIV self-testing availability across 135 countries while reducing testing costs by nearly half.

In February 2024, Viatris entered into a worldwide research and development plus commercialization agreement with Idorsia concerning the Phase 3 cardiac drug selatogrel and immunology candidate cenerimod, with options to include further assets.