Viatris Inc
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+ FollowMarket Cap$22.87B
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Earnings Call Q3 2026
November 5, 2026 - AI Summary
Strong Q3 results; guidance raised (base business momentum continues)
- Q3 delivered $3.75B revenue, $1.2B adjusted EBITDA, and $0.71 adjusted EPS.
- Through first 9 months: revenue +2%, adjusted EBITDA +6%, adjusted EPS +8% (operational, ex-FX).
- Management said it’s a “new phase” of sustained growth; financial guidance ranges were narrowed and midpoint raised for 2026 (per Paul: ~+2% revenue, +6% adjusted EBITDA, +8% adjusted EPS at midpoint on operational basis), excluding any Pacira contribution.
China & North America strength offset Europe/margins headwinds (regional mix is key)
- Greater China: Q3 net sales ~+10% YoY; policy changes are moderating growth, but demand still strong. For Q4, company expects more impact than Q3 as enforcement varies by province.
- North America: net sales ~+7% YoY, driven by higher-margin complex generics (notably estradiol patch products; volumes ~2x YoY in Q3) and new product revenue from injectables.
- Europe & emerging markets: results were pressured by ongoing supply constraints/remediation at Nashik, with ~$100M revenue impact in Q3; management emphasized demand remains healthy but supply is limiting.
Pipeline progress across value-added, generics, and innovative medicines (multiple 2027 milestones)
- Fast-acting meloxicam (NDA): FDA review “substantially complete,” labeling negotiations this month, decision expected by PDUFA Dec 27; management expects early 2027 launch if approved. Strategy tied to reduced opioid use.
- Ryzumvi: presbyopia indication approval; and Creon dosing expansion in Europe submitted (decision expected H1 2027).
- Innovative medicines (2027 readouts):
- Cenerimod: expected first half 2027.
- Selatogrel: expected around first half 2027 (event-driven; less precision).
- Generics execution: on track for 100+ new product approvals in 2026; once-monthly aripiprazole injection launch in the U.S. and first-to-file status for semaglutide 25 mg tablets (generic GLP-1 pipeline strengthening).
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$14.42
30.2% downside
Current Fair Value
30.2% downsideOvervalued by 30.2% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $22.87 Billion |
|---|---|
| Enterprise Value | $34.78 Billion |
| Annual dividend | $0.48 |
| Dividend yield | 2.41% |
| Earnings per Share | $-3 |
| Beta | 0.87 |
| Outstanding Shares | 1,148,600,000 |
Return
| Return on Equity | -4.44% |
|---|---|
| Return on Assets | -1.75% |
| Return on Invested Capital | 0.15% |
Valuation & Multiples
| P/E Ratio | -37.57 |
|---|---|
| PEG | -24.43 |
| Price to Sales | 1.72 |
| Price to Book Ratio | 1.88 |
| Enterprise Value to Revenue | 2.36 |
| Enterprise Value to EBIT | 840.13 |
| Enterprise Value to Net Income | -58 |
| Total Debt to Enterprise | 0.39 |
| Debt to Equity | 1 |
Revenue Sources
No data
Last Earnings Call
Report Date
November 5, 2026
EPS
$0.71
Est. $0.64Revenue
$3.75 B
Est. $3.79 BNext Earnings Call
Expected Date
February 25, 2027
EPS Estimate
$0.60
Consensus analyst estimateRevenue Estimate
$3.76 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 0.00, the ratio is below 1, so institutions hold more calls than puts.
| Put/Call Ratio | 0.0000▼ 57.59% |
|---|---|
| Total Calls | -▼ 100.00% |
| Total Puts | -▼ 100.00% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 13.35%▼ 78.34% |
|---|---|
| Total Invested | $2.76B▼ 83.61% |
| Investors Holding | 533▼ 535.00% |