Business
Viatris Inc. Reports Strong First Quarter 2021 Financial Results, Reaffirms 2021 Guidance and Announces Inaugural Quarterly Dividend
PITTSBURGH, May 10, 2021 /PRNewswire/ -- Reports First Quarter 2021 Financial Results - Total Revenue of $4.4 billion, U.S. GAAP net loss of $1.0 billion,
About this update from Viatris Inc.
[{"type":"text","content":"PITTSBURGH, May 10, 2021 /PRNewswire/ --\nReports First Quarter 2021 Financial Results - Total Revenue of $4.4 billion, U.S. GAAP net loss of $1.0 billion, Adjusted EBITDA of $1.6 billion, U.S. GAAP net cash provided by operating activities of $849 million, Free cash flow of $799 million Board of Directors Declares a Quarterly Dividend of Eleven Cents ($0.11) per Share Generates $163 Million in New Product Revenue in the First Quarter Continues Solid Progress in Advancing Key Pipeline Programs Remains on Track to Achieve Approximately $500 Million in Synergies in 2021 Reaffirms Financial Guidance for 2021Viatris Inc. (NASDAQ: VTRS) today reported results for the first quarter of 2021, which demonstrate the strength of its differentiated operating platform and commercial capabilities, its broad and diverse product portfolio and its strong R&D platform. \nViatris also announced that its Board of Directors declared a quarterly dividend of eleven cents ($0.11) for each issued and outstanding share of the company's common stock. The dividend is payable on June 26, 2021 to stockholders of record at the close of business on May 24, 2021.\nExecutive Comments\nMichael Goettler, Chief Executive Officer stated: \"Our strong first-quarter performance across revenue, adjusted EBITDA and free cash flow highlights the diversified and robust business profile that differentiates Viatris as a company. We see underlying strength in our business and we are reaffirming guidance for 2021, which incorporates known and potential headwinds and tailwinds for the remainder of the year. At the conclusion of the second quarter, we will be reassessing our guidance for the full year.\"\nRajiv Malik, President, stated: \"We are off to a strong start to the year as we successfully execute on our 2021 business plan priorities – manage our base business, deliver on our new launches, integrate and synergize. Our broad-based, diverse global portfolio drove strong quarterly performance across all four segments and all three product categories. We remain confident in our ability to optimize the one-of-a-kind platform we have built. We are encouraged that our new product launches delivered revenue of $163 million for the quarter and remain on track to meet our $690 million target in new product launch revenue for the year. We are also on track to realize approximately...