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Mar 31, 2025
Viatris Q1 2025 Earnings Report
Viatris reported first quarter 2025 financial results and reaffirmed its 2025 outlook.
Key Takeaways
Viatris delivered total revenues in line with expectations, demonstrating strength in its base business. The company made significant pipeline progress with three positive Phase 3 data readouts and returned more than $450 million in capital to shareholders year-to-date, reaffirming its 2025 capital allocation priorities. Despite a U.S. GAAP net loss driven by a goodwill impairment charge, adjusted net earnings and adjusted EBITDA were positive.
Total revenues for Q1 2025 were $3.3 billion, a decrease of 11% reported and 2% on a divestiture-adjusted operational basis compared to Q1 2024.
U.S. GAAP net loss was $3.0 billion, primarily due to a $2.9 billion goodwill impairment charge.
Adjusted EBITDA was $923 million, a decrease of 23% reported and 12% on a divestiture-adjusted operational basis.
Adjusted EPS was $0.50, down 25% reported and 14% on a divestiture-adjusted operational basis.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Viatris reaffirmed its 2025 financial guidance, expecting total revenues between $13.5 billion and $14.0 billion, adjusted EBITDA between $3.89 billion and $4.19 billion, adjusted EPS between $2.16 and $2.30, and free cash flow between $1.8 billion and $2.2 billion.
Positive Outlook
- Reaffirmed 2025 financial guidance.
- Expects approximately $450 million to $550 million in new product revenues in 2025.
- Targeting to submit a New Drug Application (NDA) for MR-107A-02 (fast-acting meloxicam) to the U.S. FDA by the end of 2025.
- Plans to submit an NDA for XULANE LO™ (low dose weekly dermal patch) to the FDA in the second half of 2025.
- Reaffirmed commitment to prioritizing returning capital to shareholders in 2025, expecting $500 million to $650 million in total share repurchases.
Challenges Ahead
- Not providing forward-looking guidance for U.S. GAAP net (loss) earnings or U.S. GAAP diluted EPS.
- Guidance excludes the impact of any divestiture-related taxes and transaction costs, acquired IPR&D for unsigned deals, and any potential impact of future tariffs and trade restrictions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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