US-based generics giant Viatris Inc., (NASDAQ: VTRS) has released its financial results for the third quarter of 2023. The company reported global net sales of USD 3.93 billion, marking a 1% year-on-year (YOY) increase in constant currency terms.
Geographical Sales Breakdown
Viatris Inc.’s sales performance varied by region. Developed and Emerging Markets both experienced a 2% YOY growth, with sales reaching USD 2.4 billion and USD 642.5 million, respectively. In Greater China, sales remained stable at USD 548.4 million, while the Japan, Australia, and New Zealand (JANZ) region saw a 6% YOY decline, with sales amounting to USD 334.5 million.
CEO’s Commentary and China Market Performance
During the earnings conference call, CEO Rajiv Malik described the company’s performance in the key China market as “solid” and “in line with our expectations.” Over the first nine months of the year, Viatris’ sales in China increased by 2% YOY to USD 1.645 billion, with the company anticipating single-digit growth for the full year in this market.
Clinical Trials and Regulatory Pipeline in China
Notably, Viatris recently completed a Phase III trial in China for its chronic obstructive pulmonary disorder (COPD) drug Yupelri (revefenacin). The company also has an additional 10 products under regulatory review in the country, demonstrating its commitment to expanding its presence and offerings in the Chinese market.- Flcube.com
