2024 Revenues ($USD) : $15.43B

Viatris Inc. put up total revenues of $14.7 billion for the full year 2024. Adjusting for divestitures, operational revenue edged up $582 million during the year.

The bottom line looked mixed. On a standard GAAP basis, Viatris posted a net loss of $634 million, or $0.53 per share. But looking at adjusted numbers, EBITDA hit $4.7 billion and adjusted EPS came in at $2.65. Cash generation was decent, with $2.3 billion flowing from operations (GAAP) and free cash flow reaching $2.0 billion, actually beating its earlier guidance.

A big theme for Viatris in 2024 was cleaning up the balance sheet. The company paid down $3.7 billion in debt and sent $825 million back to shareholders. CFO Doretta Mistras noted they hit their long-term gross leverage target, ending the year at 2.9 times leverage. For 2025, the focus shifts more towards capital return, with plans to buy back $500 million to $650 million worth of shares.

On the R&D side, Viatris is looking for six Phase 3 trials to read out in 2025. It also expects to hit key late-stage milestones for a few specific assets: Selatogrel, Cenerimod, and Sotagliflozin. Operationally, the company acknowledged it's dealing with the financial fallout from an FDA warning letter and import alert related to its facility in Indore, India. It has started a remediation plan and is also taking a broader look at its global infrastructure to find ways to trim costs.

CEO Scott A. Smith laid out the game plan for 2025 pretty clearly: focus on better commercial execution, push the pipeline forward (hitting those milestones for Selatogrel, Cenerimod, Sotagliflozin, and getting the Phase 3 results), prioritize share buybacks, fix the Indore situation, and complete that global infrastructure review.