{"id":13185,"date":"2023-10-08T19:12:00","date_gmt":"2023-10-08T11:12:00","guid":{"rendered":"https:\/\/flcube.com\/?p=13185"},"modified":"2024-11-17T19:15:43","modified_gmt":"2024-11-17T11:15:43","slug":"viatris-to-divest-womens-health-and-api-businesses-offloading-12-factories-and-6000-employees","status":"publish","type":"post","link":"https:\/\/flcube.com\/?p=13185","title":{"rendered":"Viatris to Divest Women\u2019s Health and API Businesses, Offloading 12 Factories and 6,000 Employees"},"content":{"rendered":"\n

US-based Viatris Inc. (NASDAQ: VTRS<\/a>) is set to divest its women\u2019s health business, API operations in India, and several non-core market commercialization rights through transactions with Upjohn. This strategic move will involve the offloading of 12 factories and approximately 6,000 employees, representing 15% of the company\u2019s global workforce.<\/p>\n\n\n\n

Significant Financial Impact from Divestitures<\/strong><\/p>\n\n\n\n

Including the income from the completed divestment of its biosimilar business, Viatris anticipates that the total income from the divested asset portfolio will exceed 12 times the estimated adjusted EBITDA for 2022. The total revenue generated from all divestment transactions could reach up to USD 6.94 billion, with an estimated net revenue of approximately USD 5.2 billion after accounting for taxes and other costs. Notably, Viatris will retain rights to key products such as Viagra and Dymista, along with select over-the-counter drugs in certain markets, with a retained value estimated at around USD 1.6 billion.<\/p>\n\n\n\n

Details of Major Divestment Agreements<\/strong><\/p>\n\n\n\n

Viatris has received an offer from Cooper Consumer Health, a prominent European over-the-counter drug manufacturer. Pending consultations with applicable works councils, this offer includes the divestment of substantially all of its OTC business, encompassing two manufacturing sites in Merignac, France, and Confienza, Italy, as well as a Research & Development (R&D) site in Monza, Italy. The transaction is expected to close in Q2 2024.<\/p>\n\n\n\n

Additionally, Viatris has executed an agreement to divest its API business in India to Iquest Enterprises, which includes three manufacturing sites and an R&D lab in Hyderabad, along with three manufacturing sites in Vizag. This transaction is anticipated to close in Q1 2024, while Viatris will retain selective R&D capabilities in the API sector.<\/p>\n\n\n\n

Viatris will also divest its Women\u2019s Healthcare business, primarily focused on oral and injectable contraceptives, to Insud Pharma, a Spanish multinational pharmaceutical company. This transaction includes two manufacturing facilities in India, located in Ahmedabad and Sarigam, and is expected to close in Q1 2024.<\/p>\n\n\n\n

In a separate agreement, Viatris will divest its rights to women\u2019s healthcare products Duphaston and Femoston to Theramex, a global specialty pharmaceutical company dedicated to women\u2019s health. This transaction is expected to close in Q4 2023. Furthermore, Viatris will divest its commercialization rights in certain non-core markets, a part of its merger with Upjohn, with completion expected in Q4 2023.-Fineline Info & Tech<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

US-based Viatris Inc. (NASDAQ: VTRS) is set to divest its women\u2019s health business, API operations…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"googlesitekit_rrm_CAownpewDA:productID":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[7],"tags":[1018,207],"class_list":["post-13185","post","type-post","status-publish","format-standard","hentry","category-company","tag-nasdaq-vtrs","tag-viatris"],"yoast_head":"\nViatris to Divest Women\u2019s Health and API Businesses, Offloading 12 Factories and 6,000 Employees - Insight, China's Pharmaceutical Industry<\/title>\n<meta name=\"description\" content=\"US-based Viatris Inc. 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