US generics giant Viatris (NASDAQ: VTRS) reported a 4% year-on-year decline in global sales to USD 15.4 billion in constant currency terms, as detailed in the company’s 2023 financial report. Despite the dip, company president Rajiv Malik declared the completion of the first phase of Viatris’s strategic plan, with the base business now simplified and stabilized, setting the stage for growth in the current year.
During an earnings call, Malik commended the company’s business model adaptation to the Greater China market, which contributed a 2% growth to USD 515 million, primarily driven by the retail channel. The emerging markets region showed a robust performance with a 10% expansion to USD 619 million. However, this growth was counterbalanced by a 5% decline in developed markets and a 2% decrease in Japan, Australia, and New Zealand (JANZ) regions, which reported sales of USD 2.3 billion and USD 372 million, respectively.
Additionally, Malik highlighted positive results from Phase III trials in China for the COPD treatment Yupelri (revefenacin) and the ophthalmology medicine Tyrvaya (varenicline). The latter has been accepted for review by the local regulator, indicating potential future growth drivers for the company in the Chinese market.- Flcube.com
