Slide 1: Q1 2024 Earnings
Q1 2024 Earnings May 9, 2024 This document contains proprietary information of Viatris Inc. Unauthorized use, duplication, dissemination or disclosure to third parties is strictly prohibited. © 2024 Viatris Inc. All Rights Reserved. VIATRIS and the Viatris Logo are trademarks of Mylan Inc., a Viatri
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 our 2024 fin
Slide 3: Non-GAAP Financial Measures and Other Information
Non-GAAP Financial Measures and Other Information Key References New product sales, new product launches or new product revenues: Refers to revenue from new products launched in 2024 and the carryover impact of new products, including business development, launched within the last 12 months. Operati
Slide 4: Q1 2024 Highlights
Q1 2024 Highlights Business Performance Capital Allocation & Strategic Initiatives Delivering the Pipeline & Execution Financial Commitments ‣ Fourth consecutive quarter of ‣ Idorsia collaboration added two ‣ New product revenues of ‣ Returned $393M of capital to divestiture-adjusted operational pha
Slide 5: Pipeline
Pipeline This document contains proprietary information of Viatris Inc. Unauthorized use, duplication, dissemination or disclosure to third parties is strictly prohibited. © 2024 Viatris Inc. All Rights Reserved. VIATRIS and the Viatris Logo are trademarks of Mylan Inc., a Viatris company. 5
Slide 6: Pipeline Update
Pipeline Update ‣ Completed integration of Idorsia teams into Viatris Idorsia ‣ Phase 3 studies expansion and enrollment acceleration underway Collaboration ‣ Initiated development of life cycle strategy for selatogrel and cenerimod ‣ Upcoming oral presentation of cenerimod’s effect on SLE markers a
Slide 7: Segment Results
Segment Results This document contains proprietary information of Viatris Inc. Unauthorized use, duplication, dissemination or disclosure to third parties is strictly prohibited. © 2024 Viatris Inc. All Rights Reserved. VIATRIS and the Viatris Logo are trademarks of Mylan Inc., a Viatris company. 7
Slide 8: Total Net Sales
Total Net Sales ($M) Q1 2024 Q1 2023 Change Op Change OPERATIONAL HIGHLIGHTS Net Sales $3,653 $3,719 (2%) 0% Q1 Performance vs. Prior Year Period Brands 2,309 2,420 (5%) (2%) ‣ Brands: Performance reflects strong growth in Emerging Markets and Europe and expansion of Generics 1,344 1,299 4% 5% busin
Slide 9: Developed Markets
Developed Markets ($M) Q1 2024 Q1 2023 Change Op Change OPERATIONAL HIGHLIGHTS Net Sales $2,165 $2,170 0% (1%) ‣ Europe: ~$1.27B; +2% divestiture-adj op change Brands 1,179 1,232 (4%) (5%) ‣ North America: ~$0.9B; (3%) divestiture-adj op change Generics 987 938 5% 5% Q1 Performance vs. Prior Year Pe
Slide 10: Emerging Markets
Emerging Markets ($M) Q1 2024 Q1 2023 Change Op Change OPERATIONAL HIGHLIGHTS Net Sales $626 $642 (2%) 4% Q1 Performance vs. Prior Year Period Brands 404 436 (7%) 1% ‣ Brands: Strong performance in key brands such as Lipitor®, Elidel® and Xalabrands Generics 222 206 8% 9% Q1 2023 Adj Divestiture-Adj
Slide 11: JANZ
JANZ ($M) Q1 2024 Q1 2023 Change Op Change OPERATIONAL HIGHLIGHTS Net Sales $318 $342 (7%) 2% Q1 Performance vs. Prior Year Period Brands 184 190 (3%) 6% ‣ Brands: Growth primarily due to expansion of business activities in Australia, partially offset by Generics 134 152 (12%) (3%) expected base bus
Slide 12: Greater China
Greater China ($M) Q1 2024 Q1 2023 Change Op Change OPERATIONAL HIGHLIGHTS Net Sales $544 $565 (4%) 0% Q1 Performance vs. Prior Year Period Brands 542 562 (4%) 0% ‣ Overall results flat to prior year Generics 2 2 NM NM ‣ Continue to navigate the evolving policy environment See slide 3 for more infor
Slide 13: Q1 Financial Highlights
Q1 Financial Highlights This document contains proprietary information of Viatris Inc. Unauthorized use, duplication, dissemination or disclosure to third parties is strictly prohibited. © 2024 Viatris Inc. All Rights Reserved. VIATRIS and the Viatris Logo are trademarks of Mylan Inc., a Viatris com
Slide 14: Q1 2024 Financial Highlights
Q1 2024 Financial Highlights Divestiture-Adj ($M, except percentages and Adjusted EPS) Q1 2024 Q1 2023 (1) Change Op Change Op Change Total Net Sales $3,653 $3,719 (2%) 0% 2% Developed Markets 2,165 2,170 0% (1%) 0% Emerging Markets 626 642 (2%) 4% 9% JANZ 318 342 (7%) 2% 2% Greater China 544 565 (4
Slide 15: Delivering on our Financial Commitments
Delivering on our Financial Commitments Return of Capital (1) Free Cash Flow Debt Repayment ‣ $393M of capital returned in Q1 2024, ~$8.1B since beginning of 2021 >$6.6B since beginning of 2021 including $143M quarterly dividend and $250M share repurchases ‣ ~$2.2B of capital returned since the Noti
Slide 16: 2024 Financial Guidance
2024 Financial Guidance This document contains proprietary information of Viatris Inc. Unauthorized use, duplication, dissemination or disclosure to third parties is strictly prohibited. © 2024 Viatris Inc. All Rights Reserved. VIATRIS and the Viatris Logo are trademarks of Mylan Inc., a Viatris com
Slide 17: 2024 Financial Guidance
2024 Financial Guidance 2024 Financial Guidance Phasing ($M, except Estimated Ranges (1) Midpoint (1) Divestiture Acquired Estimated Ranges (3) Midpoint (3) ‣ Expect Total Revenues to be slightly Adjusted EPS) February 28, 2024 February 28, 2024 Impact (2) IPR&D May 9, 2024 May 9, 2024 higher in sec
Slide 18: 2024 Key Metrics
2024 Key Metrics Key Metrics Utilized for 2024 Financial Guidance Estimated Ranges (1) Estimated Ranges (2) February 28, 2024 May 9, 2024 Adjusted Gross Margin 57.0% - 58.0% 57.0% - 58.0% Adjusted SG&A % of Total Revenues 22.0% - 23.0% 22.0% - 23.0% Adjusted R&D % of Total Revenues 5.0% - 5.6% 5.0%
Slide 19: 2024 Capital Allocation Framework
2024 Capital Allocation Framework Supported by Free Cash Flow Generation and Divestiture Proceeds ‣ Expected annual dividend of $0.48 per share Capital ‣ Share repurchases ($250M completed in Q1 2024) Return ‣ Share repurchase authorization increased by additional $1B (1) ‣ Committed to investment g
Slide 20: Appendix
Appendix This document contains proprietary information of Viatris Inc. Unauthorized use, duplication, dissemination or disclosure to third parties is strictly prohibited. © 2024 Viatris Inc. All Rights Reserved. VIATRIS and the Viatris Logo are trademarks of Mylan Inc., a Viatris company. 20
Slide 21: Executive Leadership Team
Executive Leadership Team Scott Smith Chief Executive Officer Doretta Mistras Andrew Enrietti Derek Glover Chief Financial Officer Chief People Officer Chief Quality Officer Corinne Le Goff Philippe Martin Peter McCormick Chief Commercial Officer Chief R&D Officer Chief Supply Officer Lara Ramsburg
Slide 22: Q1 2024 Select Key Product Net Sales, on a Consolidated Basis
Q1 2024 Select Key Product Net Sales, on a Consolidated Basis (Unaudited; in millions) ($M) Q1 2024 ($M) Q1 2024 Select Key Global Products Select Key Segment Products Lipitor® $388.9 Yupelri® $55.2 Norvasc® 176.3 Dymista® 48.2 Lyrica® 114.2 Xanax® 34.5 Viagra® 100.7 Amitiza® 33.0 EpiPen® Auto-Injec
Slide 23: 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. © 2024 Viatris Inc. All Rights Reserved. VIATRIS and the Viatris Logo are trademarks of Mylan Inc., a Via
Slide 24: Full-Year 2024 Guidance Items as of May 9, 2024
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions, except Adjusted EPS) Full-Year 2024 Guidance Items as of May 9, 2024 (1) GAAP Non-GAAP Total Revenues $14,980 - $15,480 N/A Adjusted EBITDA N/A $4,710 - $5,010 Net Cash provided by $2,710 - $3,010
Slide 25: Reconciliation of Estimated 2024 Operating Cash Flow to Free Cash Flow
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions) Reconciliation of Estimated 2024 U.S. GAAP Net Cash Provided by Operating Activities to Free Cash Flow as of May 9, 2024 (1) Estimated U.S. GAAP Net Cash provided by Operating Activities $2,710 - $
Slide 26: Full-Year 2024 Guidance Items as of February 28, 2024
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions, except Adjusted EPS) Full-Year 2024 Guidance Items as of February 28, 2024 (1) GAAP Non-GAAP Total Revenues $15,250 - $15,750 N/A Adjusted EBITDA N/A $4,800 - $5,100 Net Cash provided by $2,750 - $
Slide 27: Reconciliation of Estimated 2024 Operating Cash Flow to Free Cash Flow
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions) Reconciliation of Estimated 2024 U.S. GAAP Net Cash Provided by Operating Activities to Free Cash Flow as of February 28, 2024 (1) Estimated U.S. GAAP Net Cash provided by Operating Activities $2,7
Slide 28: Net Earnings to Adjusted Net Earnings and U.S. GAAP EPS to Adjusted EPS
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions, except per share amounts) Net Earnings to Adjusted Net Earnings and U.S. GAAP EPS to Adjusted EPS Three Months Ended March 31, 2024 2023 U.S. GAAP net earnings and U.S. GAAP diluted EPS............
Slide 29: Net Earnings to Adjusted EBITDA
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions) Net Earnings to Adjusted EBITDA Three Months Ended March 31, 2024 2023 U.S. GAAP net earnings........................................................................................................
Slide 30: Summary of Total Revenues by Segment – Q1 2024
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions, except %s) Summary of Total Revenues by Segment – Q1 2024 Three Months Ended March 31, Divestiture 2024 Constant Constant Adjusted 2024 Currency Currency Currency % Closed 2023 Adjusted Operational
Slide 31: Cost of Sales
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions, except %s) Cost of Sales Three Months Ended March 31, 2024 2023 U.S. GAAP cost of sales......................................................................... $ 2,159.4 $ 2,186.9 Deduct: Purchase
Slide 32: SG&A
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions, except %s) SG&A Three Months Ended March 31, 2024 2023 U.S. GAAP SG&A.................................................................................... $ 1,017.5 $ 958.9 Add / (Deduct): Acquisiti
Slide 33: R&D
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions, except %s) R&D Three Months Ended March 31, 2024 2023 U.S. GAAP R&D............................................................... $ 199.7 $ 182.9 Deduct: Acquisition and divestiture-related costs.
Slide 34: Total Operating Expenses
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions) Total Operating Expenses Three Months Ended March 31, 2024 2023 U.S. GAAP total operating expenses........................................... $ 1,300.1 $ 1,142.4 Deduct: Litigation settlements and
Slide 35: Interest Expense
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions) Interest Expense Three Months Ended March 31, 2024 2023 U.S. GAAP interest expense................................................................... $ 138.4 $ 147.0 Add / (Deduct): Accretion of co
Slide 36: Other Income, Net
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions) Other Income, Net Three Months Ended March 31, 2024 2023 U.S. GAAP other income, net............................................................................. $ (139.1) $ (69.9) Add / (Deduct):
Slide 37: Earnings Before Income Taxes and Income Tax Provision
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions, except %s) Earnings Before Income Taxes and Income Tax Provision Three Months Ended March 31, 2024 2023 U.S. GAAP earnings before income taxes................................... $ 204.6 $ 322.7 Tot
Slide 38: Free Cash Flow Since Beginning of 2021
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions) Free Cash Flow Since Beginning of 2021 Year Ended Three Months Ended Free Cash Flow Since December 31, 2021 December 31, 2022 December 31, 2023 March 31, 2024 Beginning of 2021 U.S. GAAP net cash p
Slide 39: 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 Gross Leverage Ratio is the ratio of Viatris’ total debt at notional amounts at March 31, 2024 to the sum of Viatris’ adjusted EBITDA for the
Slide 40: Net Earnings (Loss) to Adjusted EBITDA – Last Twelve Months
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions) Net Earnings (Loss) to Adjusted EBITDA – Last Twelve Months Three Months Ended June 30, 2023 September 30, 2023 December 31, 2023 March 31, 2024 U.S. GAAP net earnings (loss).......................
Slide 41: Gross Leverage – Debt to Adjusted EBITDA – Q4 2023
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions, except ratio) Gross Leverage – Debt to Adjusted EBITDA – Q4 2023 Year Ended December 31, 2023 Adjusted EBITDA......................................................................... $ 5,124.1 Repo
Slide 42: Net Earnings to Adjusted EBITDA – Q4 2023
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions) Net Earnings to Adjusted EBITDA – Q4 2023 Year ended December 31, 2023 U.S. GAAP net earnings........................................................................................................
Slide 43: Gross Leverage – Debt to Adjusted EBITDA – Q4 2022
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions, except ratio) Gross Leverage – Debt to Adjusted EBITDA – Q4 2022 Year Ended December 31, 2022 Adjusted EBITDA (a) $ 5,776.8 Reported debt balances: Long-term debt, including current portion........
Slide 44: Net Earnings to Adjusted EBITDA – Q4 2022
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions) Net Earnings to Adjusted EBITDA – Q4 2022 Year ended December 31, 2022 U.S. GAAP net earnings........................................................................................................
Slide 45: 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 46: 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 47: 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 48: 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.......................................................................................................