VTRS INVESTOR ALERT: Levi & Korsinsky, LLP Reminds Investors of an Investigation Involving Possible Securities Fraud Violations by Officers of Viatris Inc.

May 01, 2023 7:00 AM EDT | Source: Levi & Korsinsky, LLP

New York, New York--(Newsfile Corp. - May 1, 2023) - Levi & Korsinsky notifies investors that it has commenced an investigation of Viatris Inc. ("Viatris" or the "Company") (NASDAQ: VTRS) concerning possible violations of federal securities laws.

Before the market opened on February 28, 2022, Viatris unexpectedly announced the Company had entered into an agreement to sell its biosimilars business to Biocon Biologics Limited, which was anticipated to close in the second half of 2022. Additionally, Viatris announced that it was seeking to divest additional business assets and undertaking a significant global reshaping of its business, which would focus on developing products in three core therapeutic areas: ophthalmology, gastrointestinal and dermatology. Viatris also announced lower-than expected guidance for fiscal year 2022 with total revenues expected to be between $17.0 to $17.5 billion, adjusted EBITDA expected to be $5.8 to $6.2 billion, and free cash flow expected to be $2.5 to $2.9 billion. Viatris attributed the lower-than expected guidance, in part, to competition around key products, price deterioration in certain markets, foreign exchange impacts, inflation, and a lower adjusted EBITDA margin for the biosimilar business due to its partnership structure and profit-sharing arrangements.

Following this news, Viatris' stock price fell approximately 24% to close at $11.01 per share on February 28, 2022. To obtain additional information, go to:


or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.

WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, Suite #427
New York, NY 10006
Tel: (212) 363-7500
Fax: (212) 363-7171

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