The company reported total revenues of $3.75 billion for the 3 months ended September 30, 2024, compared with $3.94 billion a year earlier, a decrease of $190.7 million or 5%. Net sales fell 5% to $3.74 billion, down $195.9 million, the company said.

1. 01

   The company reported total revenues of $3.75 billion for the 3 months ended September 30, 2024, compared with $3.94 billion a year earlier, a decrease of $190.7 million or 5%. Net sales fell 5% to $3.74 billion, down $195.9 million, the company said.

2. 02

   Viatris said net sales for the 3 months fell approximately $290.7 million, or 7%, and cited the inclusion of prior-year net sales from divested businesses as the main factor. It said constant currency net sales from the remaining business rose approximately $109.4 million, or 3%. The company attributed this increase to new product sales of approximately $133.1 million, which were partly offset by base business erosion of approximately $23.7 million.

3. 03

   The company said gross profit for the 3 months was $1.46 billion and gross margin was 39%, compared with $1.69 billion and 43% a year earlier. It said adjusted gross margin was approximately 58%, compared with approximately 59% in the prior-year period. The company cited the impact of divestitures and restructuring costs related to additional anticipated plant closures as the factors behind the changes.

4. 04

   The company said it had cash and cash equivalents of $1.88 billion as of September 30, 2024 and access to $3.5 billion under its 2024 Revolving Facility, which matures in September 2029. It also said there were no borrowings outstanding under the Commercial Paper Program or the 2024 Revolving Facility.

Key figures

Quarter ended September 30, 2024

Revenue

$3.8B

Operating income

$226M

EPS

$0.08

Gross profit

$1.5B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.