Viatris Sets The Bar Low So There Will Eventually Be A Chance To Grow
Viatris' 2021 financial guidance was below investor expectations, suggesting a challenging road ahead for the newly formed company.
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In its first sales and earnings call, Viatris management updated investors on the development of some key complex generics and biosimilars.
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With a goal of reducing its cost base by at least $1bn by 2024, Viatris has delivered plans to significantly restructure its global manufacturing network. Up to 20% of Viatris’ 45,000-strong workforce could be impacted by the initiative which will see the firm close, divest or downsize 15 of its manufacturing plants around the globe.