US pharmaceutical company Viatris (NASDAQ: VTRS) has reported its financial results for the first quarter of 2024, with global net sales remaining flat year-on-year (YOY) at USD 3.7 billion in constant currency terms.
The base business brands experienced a 2% YOY decline to USD 2.3 billion, attributed to unfavorable channel dynamics in North America and government price regulations in Japan and Australia. Despite these challenges, Viatris saw robust growth in Emerging Markets and Europe, and an expansion of business in Japan, Australia, and New Zealand (JANZ). The Generics segment performed better, with a 5% increase in sales to USD 1.3 billion, driven by the antiasthmatic medication Wixela (fluticasone + salmeterol) and new product launches in developed markets. The company generated approximately USD 154 million in new product revenues in Q1, a figure projected to reach up to USD 550 million over the full year.
Market segment performance saw Developed Markets slightly contract by 1% to USD 2.2 billion, Emerging Markets grow by 4% to USD 665 million, and JANZ increase by 2% to USD 345 million. Sales in Greater China remained stagnant at USD 565 million, where Viatris is focusing on the retail segment and self-paid patients while navigating the region’s evolving policy landscape.-Fineline Info & Tech
