Viatris Inc. · NASDAQ:VTRS
Viatris — Q4 2022 Earnings Presentation
69 slides from Viatris's earnings presentation, Feb 27, 2023
Slide 1: Q4 and Full Year 2022 Earnings Presentation
Q4 and Full Year 2022 Earnings Presentation February 27, 2023 This document contains proprietary information of Viatris Inc. Unauthorized use, duplication, dissemination or disclosure to third parties is strictly prohibited. © 2023 Viatris Inc. All Rights Reserved. VIATRIS and the Viatris Logo are t
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains “forward-looking statements”. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may include, without limitation, statements about: 2023 guidan
Slide 3: Non-GAAP Financial Measures and Other Information
Non-GAAP Financial Measures and Other Information Key References Prior Period Presentation for Acquired IPR&D Impact New product sales, new product launches or new product revenues refer to revenue from new products launched in Beginning in 2022, upfront and milestone-related R&D expenses related to
Slide 4: FY 2022 – Focused Execution & Results
FY 2022 – Focused Execution & Results • Delivered on Performance and Strategic Priorities Business • Total Revenues $16.26B Performance • Adjusted EBITDA $5.78B & Execution • Free Cash Flow $2.55B • New product revenues of $483M in FY 2022 Delivering • Strong pipeline across Eye Care, Complex Inject
Slide 5: Operational Performance and Business Outlook
Operational Performance and Business Outlook This document contains proprietary information of Viatris Inc. Unauthorized use, duplication, dissemination or disclosure to third parties is strictly prohibited. © 2023 Viatris Inc. All Rights Reserved. VIATRIS and the Viatris Logo are trademarks of Myla
Slide 6: 2022 Operational Highlights
2022 Operational Highlights Stabilize the Business ▪ Achieved Initial Full-Year Topline Guidance on an Operational Basis • Solid Operational Performance Across All Segments, Including Consistent Performance from China Deliver the Pipeline ▪ Announced Positive Top-line Results for the GA Depot Phase
Slide 7: 2023 Operational Priorities to Return to Growth in Phase 2
2023 Operational Priorities to Return to Growth in Phase 2 Continue to Execute on Base Business Deliver on Pipeline Investments Maximize the Execution of Our Eye Care Strategy Execute Divestitures This document contains proprietary information of Viatris Inc. Unauthorized use, duplication, dissemina
Slide 8: Execute Base Business
Execute Base Business This document contains proprietary information of Viatris Inc. Unauthorized use, duplication, dissemination or disclosure to third parties is strictly prohibited. This document contains © 2023 proprietary Viatris Inc. information of Viatris VIATRIS All Rights Reserved. Inc. Una
Slide 9: Total Viatris
Total Viatris Continue to Execute Base Business Total Revenues 2023E Tailwinds • ~$500M New Product Revenue, 2023E(2) vs In Addition to $56M of Tyrvaya® 2023E 2022Adj Ex Biosimilars(1) • Growth Markets Including Europe and Key $15.75B(3) +1% Emerging Markets • Key Brands Strength Across All Markets
Slide 10: ~$500M New Product Revenue Expected in 2023
~$500M New Product Revenue Expected in 2023 Expect ~90% 2023E New Product Launch Value North America to Come from Developed Markets Europe >98% of expected new • Budesonide / Formoterol (Symbicort®) • Apixaban product launches in • Lenalidomide* (Revlimid®) • Dimethyl Fumarate* 2023 are either • Iro
Slide 11: 2023 Total Revenues Guidance Walk
2023 Total Revenues Guidance Walk ($M) 15,750 56 15,651 ~450 ~500 2022 Adjusted Base Business New Product Tyrvaya® 2023 Guidance Ex Biosimilars(1) Erosion Revenues Midpoint(2) Note: For non-GAAP measures, see slide 3 (1) 2022 Adjusted Total Revenues Ex Biosimilars refers to FY 2022 U.S. GAAP total r
Slide 12: Developed Markets
Developed Markets Net Sales Total Europe North America 2023E(2) 2023E(2) 2023E(2) 2022Adj(1) vs 2022Adj(1) 2022Adj(1) vs 2022Adj(1) 2022Adj(1) vs 2022Adj(1) Ex Biosimilars Ex Biosimilars Ex Biosimilars Ex Biosimilars Ex Biosimilars Ex Biosimilars $9.2B FLAT $5.1B 3% $4.1B (3%) 2023E Net Sales 42% No
Slide 13: Europe
Europe Net Sales Europe 2023E(2) vs 2022Adj Ex Biosimilars(1) 2022Adj Ex Biosimilars(1) $5.1B 3% 2023E Tailwinds 2023E Headwinds • New Product Launches • Expected impact of LOEs Including Dymista® • Thrombosis Portfolio • Key Markets, Including Italy and Spain • Key Brands, Such as Creon®, Influvac®
Slide 14: North America
North America Net Sales North America 2023E(2) vs 2022Adj Ex Biosimilars(1) 2022Adj Ex Biosimilars(1) $4.1B (3%) 2023E Tailwinds 2023E Headwinds • Diversified Portfolio • Inherent Base Business Erosion • New Product Launches • Continued Competition in Complex Gx Including Wixela® and Xulane® • Growt
Slide 15: Emerging Markets
Emerging Markets Net Sales Emerging Markets 2023E Tailwinds 2023E(2) vs • Key Markets, Including Turkey, 2022Adj Ex Biosimilars(1) 2022Adj Ex Biosimilars(1) Thailand, Brazil, and Mexico $2.6B 4% • Lipitor® , Norvasc®, Lyrica® and Celebrex® 2023E Net Sales 28% 24% 35% 2023E Headwinds 65% • Continued
Slide 16: JANZ
JANZ Net Sales JANZ 2023E Tailwinds 2023E(2) vs • Key Brands Including Creon®, 2022Adj Ex Biosimilars(1) 2022Adj Ex Biosimilars(1) Amitiza® and Effexor® $1.6B (4%) • Optimizing Generics Segment and Building On Authorized Generics 2023E Net Sales 5% 27% 41% 2023E Headwinds 57% • Base Business Erosion
Slide 17: Greater China
Greater China Net Sales Greater China 2023E Tailwinds 2023E(2) vs • Focus on Retail Segment & Growing 2022Adj Ex Biosimilars(1) 2022Adj Ex Biosimilars(1) Self-pay Patient Base $2.2B (2%) • Maximize Well Established Commercial Presence in Hospital 2023E Net Sales Channel 1% 7% 4% 2023E Headwinds • Co
Slide 18: Deliver on Organic Pipeline Investments
Deliver on Organic Pipeline Investments This document contains proprietary information of Viatris Inc. Unauthorized use, duplication, dissemination or disclosure to third parties is strictly prohibited. This document contains © 2023 proprietary Viatris Inc. information of Viatris VIATRIS All Rights
Slide 19: Key R&D Areas
Key R&D Areas Our Our Complex Injectables Novel and 505(b)(2) Franchise Product Franchise Our Pipeline for Our Pipeline for Our Pipeline for Rest of World China EU and NA Markets This document contains proprietary information of Viatris Inc. Unauthorized use, duplication, dissemination or disclosure
Slide 20: Complex Injectables – Significant Milestones Achieved
Complex Injectables – Significant Milestones Achieved Potential >$1B Annual Peak Net Sales Opportunity in 2027 Analytical Pivotal PK / Under Regulatory First to Market Product Indication Pre-Clinical Characterization Clinical Review Opportunity GlucagonTM Hypoglycemic Disorder Venofer® Iron Deficien
Slide 21: Select Novel & Complex Products - Another Growth Catalyst
Select Novel & Complex Products - Another Growth Catalyst Potential >$1B Annual Peak Net Sales Opportunity in 2028 from Select Assets Pre- Regulatory Anticipated Product Indication Phase I Phase II Phase III Status Clinical Approval Launch Year Treatment of U.S. Submission Glatiramer relapsing forms
Slide 22: Eye Care Portfolio and Pipeline
Eye Care Portfolio and Pipeline This document contains proprietary information of Viatris Inc. Unauthorized use, duplication, dissemination or disclosure to third parties is strictly prohibited. This document contains © 2023 proprietary Viatris Inc. information of Viatris VIATRIS All Rights Reserved
Slide 23: Eye Care Portfolio & Pipeline
Eye Care Portfolio & Pipeline Projected to Add >$1B Net Sales by 2028 Regulatory Product Indication Pre-Clinical Phase I Phase II Phase III Status Approval Tyrvaya® Dry Eye Disease Launched 10/15/21 (Varenicline solution) MR-145 Neurotrophic Keratopathy (Stage 1) Discontinued (OC-01) MR-146 Neurotro
Slide 24: Key Takeaways
Key Takeaways 2023 Aligned with Strategic Priorities and Path to Growth in Phase 2 • (2.9%) Base Business Erosion Expected in 2023 Continue to Execute on Base Business • Anticipate Total Revenues of $15.75B(1) • ~$500M New Product Launches Expected in 2023, Exceeding Anticipated Base Business Erosio
Slide 25: 2022 Financial Results
2022 Financial Results This document contains proprietary information of Viatris Inc. Unauthorized use, duplication, dissemination or disclosure to third parties is strictly prohibited. © 2023 Viatris Inc. All Rights Reserved. VIATRIS and the Viatris Logo are trademarks of Mylan Inc., a Viatris comp
Slide 26: 2022 Financial Results
2022 Financial Results 2022 Biocon Acquired 2022 Adjusted ($M) Guidance Ranges 2022 Results Transaction(1) IPR&D(2) Guidance Ranges (November 7, 2022) Total Revenues $16,200 - $16,700 ($86) – $16,100 - $16,600 $16,263 Adjusted EBITDA $5,800 - $6,200 ($31) ($36) $5,725 - $6,125 $5,777 Free Cash Flow
Slide 27: Q4 and FY 2022 Financial Highlights
Q4 and FY 2022 Financial Highlights ($M) Q4 2022 Q4 2021(2) CHANGE OP CHANGE FY 2022 FY 2021(2) CHANGE OP CHANGE Total Net Sales $3,867 $4,331 (11%) (2%) $16,218 $17,814 (9%) (2%) Developed Markets 2,382 2,561 (7%) –% 9,769 10,429 (6%) –% Emerging Markets 581 728 (20%) (9%) 2,616 3,145 (17%) (8%) JA
Slide 28: Biocon Transaction – Upfront Proceeds and Uses of Cash
Biocon Transaction – Upfront Proceeds and Uses of Cash Biocon Transaction ($M) Incremental Debt Paydown (~$750M) Upfront Cash Proceeds $1,950 Eye Care Acquisitions (~$700M) Transaction Costs $254 Share Repurchases Net Cash Proceeds $1,696 ($250M) Delivering on Financial Commitments while Increasing
Slide 29: Capital Allocation – Delivering on our Financial Commitments
Capital Allocation – Delivering on our Financial Commitments (1) Free Cash Flow Debt Repayment >$5.1B over last 8 quarters ~$5.4B over last 8 quarters • ~$3.3B in Debt Repayment in 2022 Debt • ~$5.4B in Debt Repayment since the Repayment beginning of 2021 Notional Debt Outstanding(2) $25.1B • Commit
Slide 30: 2023 Financial Guidance
2023 Financial Guidance This document contains proprietary information of Viatris Inc. Unauthorized use, duplication, dissemination or disclosure to third parties is strictly prohibited. © 2023 Viatris Inc. All Rights Reserved. VIATRIS and the Viatris Logo are trademarks of Mylan Inc., a Viatris com
Slide 31: 2023 Financial Guidance Key Assumptions
2023 Financial Guidance Key Assumptions ‣ Includes expected full-year benefit for Planned Divestitures ‣ Full-Year FX impact expected to be minimal based on end of January 2023 rates ‣ Low-single Digit Base Business Erosion ‣ Adjusted Gross Margin impacted by pricing pressure on key US products and
Slide 32: 2023 Financial Guidance
2023 Financial Guidance ($B) 2023 Estimated Ranges 2023 Midpoint 2023 Guidance Phasing Total Revenues $15.5 - $16.0 $15.75 ‣ Expect Total Revenues and Adjusted Adjusted EBITDA $5.0 - $5.4 $5.2 EBITDA to be higher in the second half Free Cash Flow $2.3 - $2.7 $2.5 vs the first half of 2023 ‣ Driven b
Slide 33: 2023 Total Revenues Guidance Walk
2023 Total Revenues Guidance Walk ($M) 15,750 56 15,651 ~450 ~500 2022 Adjusted Base Business New Product Tyrvaya® 2023 Guidance Ex Biosimilars(1) Erosion Revenues Midpoint(2) Note: For non-GAAP measures, see slide 3 (1) 2022 Adjusted Total Revenues Ex Biosimilars refers to FY 2022 U.S. GAAP total r
Slide 34: 2023 Adjusted EBITDA Guidance Walk
2023 Adjusted EBITDA Guidance Walk ($M) 5,640 48 ~150 ~425 ~325 ~125 ~100 5,200 2022 Adjusted Base Business New Product Tyrvaya® Eye Care Eye Care Other 2023 Guidance Ex Biosimilars(1) Gross Margin Gross Margin Gross Margin Division SG&A Division and Midpoint(2) Erosion Organic R&D Note: For non-GAA
Slide 35: 2023 Free Cash Flow Guidance
2023 Free Cash Flow Guidance ($M) 2023 Assumes the following impacts from Adjusted EBITDA ‣ ~$650M Interest Expense U.S. GAAP Net Cash Provided by ‣ ~$650M Tax $2,800 - $3,100 Operating Activities(1) ‣ ~$950M One-time Operating Cash Costs and Change in Net Working Capital Capital Expenditures $400 -
Slide 36: 2023 Capital Allocation Framework
2023 Capital Allocation Framework Supported by Free Cash Flow Generation ‣ Committed to Investment Grade Rating ‣ Paydown of scheduled maturities totaling ~$1.3B and incremental debt paydown ‣ Expected annual dividend of $0.48 per share Proceeds from Planned Divestitures Expected to Provide Addition
Slide 37: Appendix
Appendix This document contains proprietary information of Viatris Inc. Unauthorized use, duplication, dissemination or disclosure to third parties is strictly prohibited. © 2023 Viatris Inc. All Rights Reserved. VIATRIS and the Viatris Logo are trademarks of Mylan Inc., a Viatris company. 37
Slide 38: Q4 2022 Total Net Sales and Adjusted EBITDA Walk
Q4 2022 Total Net Sales and Adjusted EBITDA Walk Net Sales ($M) 4,331 363 3,904 3,867 64 27 143 133 Q4 2021 Fx Biosimilar Q4 2021 at Competition on Other Base New Product Q4 2022 Divestment 2022 Fx Rates Key US Products Business Erosion Net Sales Impact(1) Adjusted EBITDA ($M) 1,344 120 1,224 1,211
Slide 39: Total Net Sales
Total Net Sales ($M) Q4 2022 Q4 2021 Change Op Change OPERATIONAL HIGHLIGHTS Net Sales $3,867* $4,331 (11%) (2%) Q4 Performance vs. Expectations Brands 2,312 2,612 (11%) (2%) • Solid performance across all our segments Complex Gx & Biosimilars 248* 348 (29%) (26%) • Brands: Strong performance across
Slide 40: Developed Markets
Developed Markets ($M) Q4 2022 Q4 2021 Change Op Change OPERATIONAL HIGHLIGHTS Net Sales $2,382* $2,561 (7%) –% Q4 Performance vs. Expectations Brands 1,228 1,409 (13%) (5%) • Europe net sales of $1.3B Complex Gx & Biosimilars 232* 315 (26%) (24%) • North America net sales of $1.1B Generics 922 837
Slide 41: Emerging Markets
Emerging Markets ($M) Q4 2022 Q4 2021 Change Op Change OPERATIONAL HIGHLIGHTS Net Sales $581* $728 (20%) (9%) Q4 Performance vs. Expectations Brands 362 384 (6%) 3% • Brands: Ahead of expectations driven by strong Complex Gx & Biosimilars 5* 18 (74%) (71%) performance in key markets like Korea and T
Slide 42: JANZ
JANZ ($M) Q4 2022 Q4 2021 Change Op Change OPERATIONAL HIGHLIGHTS Net Sales $398* $539 (26%) (14%) Q4 Performance vs. Expectations Brands 219 319 (31%) (16%) • Brands: Slightly ahead of with expectations, led by Japan Complex Gx & Biosimilars 11* 15 (26%) (15%) and including products such as Norvasc
Slide 43: Greater China
Greater China ($M) Q4 2022 Q4 2021 Change Op Change OPERATIONAL HIGHLIGHTS Net Sales $506 $504 –% 10% Q4 Performance vs. Expectations Brands 503 501 –% 10% • Overall results better than expectations in key products Complex Gx & Biosimilars – – NM NM including Lipitor®, Norvasc® and Celebrex®, while
Slide 44: Q4 and FY 2022 Select Key Product Net Sales, on a Consolidated Basis
Q4 and FY 2022 Select Key Product Net Sales, on a Consolidated Basis (Unaudited; in millions) ($M) Q4 2022 FY 2022 ($M) Q4 2022 FY 2022 Select Key Global Products Select Key Segment Products Lipitor® $369.1 $1,635.2 Yupelri® $56.0 $202.1 Norvasc® 175.0 775.1 Influvac® 47.2 225.5 Lyrica® 139.9 623.8
Slide 45: GAAP/Non-GAAP Reconciliations
GAAP/Non-GAAP Reconciliations This document contains proprietary information of Viatris Inc. Unauthorized use, duplication, dissemination or disclosure to third parties is strictly prohibited. © 2023 Viatris Inc. All Rights Reserved. VIATRIS and the Viatris Logo are trademarks of Mylan Inc., a Viatr
Slide 46: Full-Year 2023 Guidance Items
Viatris Inc. and Subsidiaries Full-Year 2023 Guidance Items (Unaudited; in millions) GAAP Non-GAAP Total Revenues $15,500 - $16,000 N/A Adjusted EBITDA N/A $5,000 - $5,400 Net Cash provided by $2,800 - $3,100 N/A Operating Activities Free Cash Flow N/A $2,300 - $2,700 Note: For non-GAAP measures, se
Slide 47: Reconciliation of Estimated 2023 Net Cash from Operating Activities to Free Cash Flow
Viatris Inc. and Subsidiaries Reconciliation of Estimated 2023 U.S. GAAP Net Cash Provided by Operating Activities to Free Cash Flow (Unaudited; in millions) Estimated U.S. GAAP Net Cash provided by Operating Activities $2,800 - $3,100 Less: Capital Expenditures ($400) - ($500) Free Cash Flow $2,300
Slide 48: Adjusted Net Earnings
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions) Adjusted Net Earnings Three Months Ended Year Ended December 31, December 31, 2022 2021 2022 2021 U.S. GAAP net earnings (loss) .....................................................................
Slide 49: Net Earnings (Loss) to Adjusted EBITDA
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions) Net Earnings (Loss) to Adjusted EBITDA Three Months Ended Year Ended December 31, December 31, 2022 2021 2022 2021 U.S. GAAP net earnings (loss).....................................................
Slide 50: Summary of Total Revenues by Segment
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions, except %s) Summary of Total Revenues by Segment Three Months Ended Year Ended December 31, December 31, 2022 Constant Constant 2022 Constant Constant 2022 Currency Currency Currency % 2022 Currency
Slide 51: Cost of Sales
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions, except %s) Cost of Sales Three Months Ended Year Ended December 31, December 31, 2022 2021 2022 2021 U.S. GAAP cost of sales.............................................................. $ 2,601.9
Slide 52: R&D
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions, except %s) R&D Three Months Ended Year Ended December 31, December 31, 2022 2021 2022 2021 U.S. GAAP R&D (a).......................................................... $ 182.4 $ 195.1 $ 662.2 $ 681.
Slide 53: SG&A
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions, except %s) SG&A Three Months Ended Year Ended December 31, December 31, 2022 2021 2022 2021 U.S. GAAP SG&A.................................................................................... $ 1,26
Slide 54: Total Operating Expenses
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions) Total Operating Expenses Three Months Ended Year Ended December 31, December 31, 2022 2021 2022 2021 U.S. GAAP total operating expenses...................................................... $ 1,475
Slide 55: Interest Expense
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions) Interest Expense Three Months Ended Year Ended December 31, December 31, 2022 2021 2022 2021 U.S. GAAP interest expense................................................................... $ 147.1 $
Slide 56: Other Income, Net
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions) Other Income, Net Three Months Ended Year Ended December 31, December 31, 2022 2021 2022 2021 U.S. GAAP other income, net...................................................... $ (1,817.3) $ (21.9)
Slide 57: Earnings (Loss) Before Income Taxes and Income Tax Provision
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions, except %s) Earnings (Loss) Before Income Taxes and Income Tax Provision Three Months Ended Year Ended December 31, December 31, 2022 2021 2022 2021 U.S. GAAP earnings (loss) before income taxes....
Slide 58: Free Cash Flow over the Last 8 Quarters
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions) Free Cash Flow over the Last 8 Quarters Year Ended Free Cash Flow over December 31, 2021 December 31, 2022 the last 8 quarters U.S. GAAP net cash provided by operating activities $3,017 $2,953 $5,9
Slide 59: Gross Leverage - Debt to Adjusted EBITDA
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions, except ratio) Gross Leverage - Debt to Adjusted EBITDA Year Ended December 31, 2022 Adjusted EBITDA..................................................................................... $ 5,776.8 Re
Slide 60: Gross Leverage - Debt to Adjusted EBITDA - Q3 2022
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions, except ratio) Gross Leverage - Debt to Adjusted EBITDA - Q3 2022 Gross Leverage Ratio is the ratio of Viatris’ total debt at notional amounts at September 30, 2022 to the sum of Viatris’ adjusted E
Slide 61: Net (Loss) Earnings to Adjusted EBITDA - Q3 2022
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions) Net (Loss) Earnings to Adjusted EBITDA - Q3 2022 Three Months Ended December 31, 2021 March 31, 2022 June 30, 2022 September 30, 2022 U.S. GAAP net (loss) earnings..................................
Slide 62: Gross Leverage - Debt to Adjusted EBITDA - Q2 2022
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions, except ratio) Gross Leverage - Debt to Adjusted EBITDA - Q2 2022 Gross Leverage Ratio is the ratio of Viatris’ total debt at notional amounts at June 30, 2022 to the sum of Viatris’ adjusted EBITDA
Slide 63: Net Earnings (Loss) to Adjusted EBITDA - Q2 2022
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions) Net Earnings (Loss) to Adjusted EBITDA - Q2 2022 Three Months Ended September 30, 2021 December 31, 2021 March 31, 2022 June 30, 2022 U.S. GAAP net earnings (loss)..................................
Slide 64: Gross Leverage - Debt to Adjusted EBITDA - Q1 2022
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions, except ratio) Gross Leverage - Debt to Adjusted EBITDA - Q1 2022 Gross Leverage Ratio is the ratio of Viatris’ total debt at notional amounts at March 31, 2022 to the sum of Viatris’ adjusted EBITD
Slide 65: Net Earnings (Loss) to Adjusted EBITDA - Q1 2022
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions) Net Earnings (Loss) to Adjusted EBITDA - Q1 2022 Three Months Ended June 30, 2021 September 30, 2021 December 31, 2021 March 31, 2022 U.S. GAAP net earnings (loss)..................................
Slide 66: Gross Leverage - Debt to Adjusted EBITDA - Q4 2021
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions, except ratio) Gross Leverage - Debt to Adjusted EBITDA - Q4 2021 Year Ended December 31, 2021 Adjusted EBITDA (a) $ 6,426.1 Reported debt balances: Long-term debt, including current portion........
Slide 67: Net Loss to Adjusted EBITDA - Q4 2021
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions) Net Loss to Adjusted EBITDA - Q4 2021 Year ended December 31, 2021 U.S. GAAP net loss................................................................................................................
Slide 68: Gross Leverage - Debt to Combined Adjusted EBITDA - Q4 2020
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions, except ratio) Gross Leverage - Debt to Combined Adjusted EBITDA - Q4 2020 Year Ended December 31, 2020 Combined Adjusted EBITDA (a) $ 6,807.2 Reported debt balances: Long-term debt, including curre
Slide 69: Net Loss to Combined Adjusted EBITDA - Q4 2020
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions) Net Loss to Combined Adjusted EBITDA - Q4 2020 Year ended December 31, 2020 U.S. GAAP net loss.......................................................................................................