Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired Viatris Inc. ("Viatris") (NASDAQ: VTRS) common stock between March 1, 2021 and February 25, 2022, inclusive (the “Class Period”).
Viatris is a global healthcare company that formed following the merger of Mylan and Pfizer’s Upjohn division.
At the outset of the Class Period, Viatris announced a multi-phase plan, the first phase of which that would allow it to: (1) create a stable revenue base; (2) realize $1 billion in cost synergies by 2024; and (3) improve cash conversion and free cash flow generation. Defendants claimed that Viatris would achieve its first phase goals through its strong pipeline of new products, including those in its biosimilars business. Defendants further represented that Viatris’s strong pipeline and business development would offset erosion of the company’s base business.
However, contrary to Defendants’ representations, the company was experiencing significantly more competition in its United States complex generics business than disclosed. As a result, Viatris was not able to effectively manage its base business erosion or create a stable revenue base. Instead, throughout 2021, Viatris total revenues were declining quarter-over-quarter.
Current Status of Case:
On September 20, 2024 the Court granted Defendants’ Motion to Dismiss. On October 21, 2024, Lead Plaintiff filed a Notice of Appeal to the United States Court of Appeals for the Third Circuit, and on November 6, 2025, the Third Circuit affirmed the dismissal. This action has concluded.
If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.