Viatris Inc. · NASDAQ:VTRS
Viatris — Q4 2024 Earnings Presentation
70 slides from Viatris's earnings presentation, Feb 27, 2025
Slide 1: Q4 & Full Year 2024 Earnings
Q4 & Full Year 2024 Earnings February 27, 2025 This document contains proprietary information of Viatris Inc. Unauthorized use, duplication, dissemination or disclosure to third parties is strictly prohibited. © 2025 Viatris Inc. All Rights Reserved. VIATRIS and the Viatris Logo are trademarks of My
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 2025 guidanc
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: Strategic Update
Strategic Update Scott A. Smith Chief Executive Officer This document contains proprietary information of Viatris Inc. Unauthorized use, duplication, dissemination or disclosure to third parties is strictly prohibited. © 2025 Viatris Inc. All Rights Reserved. VIATRIS and the Viatris Logo are tradema
Slide 5: 2024 Financial Highlights
2024 Financial Highlights Total Revenues Adjusted EBITDA $14.7B $4.7B Ex Divestitures: ~$14.25B (2) Ex Divestitures: ~$4.4B (2) Adjusted EPS Free Cash Flow (1) Excluding Transaction Costs $2.65 $2.6B Ex Divestitures: ~$2.50 (2) Ex Divestitures: ~$2.3B (2) Full Year Divestiture-Adjusted Operational R
Slide 6: Delivered on Our Strategic Pillars in 2024
Delivered on Our Strategic Pillars in 2024 Diversified & Growing Base Business Seventh consecutive quarter of divestiture-adjusted operational revenue growth Delivered new product revenues of $582M in 2024 Completed planned divestitures to simplify and streamline our organization Financial Strength
Slide 7: 2025 Priorities
2025 Priorities Live our mission by working with global health community partners to help address unmet patient needs Drive strong commercial execution and new product Advance Phase 3 programs, including 6 data readouts, launches and progress innovative pipeline Begin enterprise-wide initiative to r
Slide 8: R&D Update
R&D Update Philippe Martin Chief R&D Officer This document contains proprietary information of Viatris Inc. Unauthorized use, duplication, dissemination or disclosure to third parties is strictly prohibited. © 2025 Viatris Inc. All Rights Reserved. VIATRIS and the Viatris Logo are trademarks of Myla
Slide 9: Base Business Pipeline – Diverse and Resilient Growth Engine
Base Business Pipeline – Diverse and Resilient Growth Engine Deep pipeline of core generics, complex generics and novel products >500 products in development or under regulatory review and secured a number of first-to-market opportunities Core Generics Complex Generics Novel Products ~250 ~250 >70 p
Slide 10: Strong Track Record of Delivering New Product Revenues
Strong Track Record of Delivering New Product Revenues >$450M New Product Revenues Each of the Last 5 Years $678M $450M-$550M (1) $582M $456M $482M $451M Key Anticipated 2025 Launches ‣ Iron Sucrose (Venofer®) ‣ Ocreotide (Sandostatin® LAR) ‣ Glucagon 2020 (2) 2021 2022 2023 2024 2025E For key refer
Slide 11: Advancing 11 Phase 3 Programs – Expect 6 Data Readouts in 2025
Advancing 11 Phase 3 Programs – Expect 6 Data Readouts in 2025 Asset Targeted Indication Phase 1 Phase 2 Phase 3 Status Anticipated Milestone Positive Phase 3 data Targeting Japan regulatory Effexor® (Japan) Generalized Anxiety Disorder (GAD) in house submission in H1 2025 Xulane Low Dose Contracept
Slide 12: Selatogrel and Cenerimod Phase 3 Studies On Track
Selatogrel and Cenerimod Phase 3 Studies On Track Continue to Focus on Accelerating Phase 3 Study Enrollment • Ongoing Phase 3 SOS-AMI study, which has Fast • Two ongoing Phase 3 OPUS studies, which have Track Designation from FDA Fast Track Designation from FDA • Expect to complete enrollment in 20
Slide 13: Sotagliflozin – Differentiated Profile From Other SGLTi Is Emerging
Sotagliflozin – Differentiated Profile From Other SGLTi Is Emerging Sotagliflozin Licensing Agreement Expands Our Innovative Portfolio in Cardiovascular Diseases Product Profile Latest Data Next Steps • MoA (1): Dual SGLT-1 and SGLT-2 • Recent publication in The Lancet • On track for regulatory inhi
Slide 14: Commercial Update
Sotagliflozin Commercial Update Corinne Le Goff Chief Commercial Officer This document contains proprietary information of Viatris Inc. Unauthorized use, duplication, dissemination or disclosure to third parties is strictly prohibited. © 2025 Viatris Inc. All Rights Reserved. VIATRIS and the Viatris
Slide 15: 2025 Commercial Priorities
2025 Commercial Priorities Driving the Base Business Strong execution across geographies to maximize potential of broad generic and brand portfolio Continued focus on customer service levels and leveraging our Global Healthcare Gateway ®, regional capabilities, and infrastructure to expand patient a
Slide 16: Total Viatris
Total Viatris Total Revenues 2025E Tailwinds 2025E Divestiture-Adj ‣ New product revenues of $450M-$550M 2025 Total Revenues 2025E Divestiture-Adj Operational Change ‣ Operational growth in Europe, Emerging Guidance Midpoint (1) Operational Change (2) Ex Indore (3) Markets, and Greater China regions
Slide 17: Developed Markets
Developed Markets Developed Markets 2025E Net Sales 2024 Adj Net Sales (1) $8.6B 2025E Divestiture-Adj Operational Change (4) (1%) Europe 42% 58% 52% 48% 2024 Adj Net Sales (2) $4.8B 2025E Divestiture-Adj Operational Change (4) 3% North America Europe Brands North America Generics 2024 Adj Net Sales
Slide 18: Europe
Europe Developed Markets 2025E Tailwinds 2024 Adj Net Sales $8.6B ‣ New product launches in brand and generic portfolios 2025E Divestiture-Adj Operational Change (1%) ‣ Strong brand portfolio with key brands, such as Thrombosis portfolio, Creon®, and Brufen® Europe ‣ Strong generic base business acr
Slide 19: North America
North America Developed Markets 2025E Tailwinds 2024 Adj Net Sales $8.6B ‣ High-value new product launches ‣ Stable and diversified base business 2025E Divestiture-Adj Operational Change (1%) (brands & generics) ‣ Growth in complex products like Wixela® Europe ‣ Positive trends in Yupelri® 2024 Adj
Slide 20: Emerging Markets
Emerging Markets Emerging Markets 2025E Tailwinds 2025E Divestiture-Adj ‣ Further expansion of cardiovascular portfolio 2024 Adj Net Sales (1) Operational Change (2) in Latin America ‣ Expansion in key markets, including Mexico, $2.2B 1% Turkey, India, Korea, Brazil, and Emerging Asia ‣ Growth in ke
Slide 21: JANZ
JANZ JANZ 2025E Tailwinds 2025E Divestiture-Adj ‣ Continue to build the pipeline for future 2024 Adj Net Sales (1) Operational Change (2) launches by leveraging our strong commercial platform $1.3B (7%) ‣ Volume growth in key brands, including Amitiza® and Effexor® 2025E Net Sales ‣ Continue to expa
Slide 22: Greater China
Greater China Greater China 2025E Tailwinds 2024 Net Sales 2025E Operational Change (1) ‣ Focus on cardiovascular and other growth products ‣ New product launches to include Dymista® $2.2B 3% and Breyna™ ‣ Maximize well-established commercial 2025E Net Sales presence across multiple channels, includ
Slide 23: Financial Update
Financial Update Doretta Mistras Chief Financial Officer This document contains proprietary information of Viatris Inc. Unauthorized use, duplication, dissemination or disclosure to third parties is strictly prohibited. © 2025 Viatris Inc. All Rights Reserved. VIATRIS and the Viatris Logo are tradem
Slide 24: 2024 Financial Results
2024 Financial Results ($M, except Adjusted EPS) 2024 Guidance Ranges (1) 2024 Results 2024 Results November 7, 2024 Ex Divestitures (2) Total Revenues $14,600 - $15,100 $14,739 ~$14,250 Adjusted EBITDA $4,575 - $4,845 $4,669 ~$4,415 Adjusted EPS $2.56 - $2.71 $2.65 ~$2.50 Free Cash Flow (3) $2,170
Slide 25: Strengthening Our Balance Sheet
Strengthening Our Balance Sheet ~$9.7B ~$10.3B (1) Free Cash Flow since Debt repayment since beginning of 2021 beginning of 2021 Notional Debt Outstanding (2) $25.1B $22.4B $18.7B $17.6B $13.6B Gross Q4 2020 Q4 2021 Q4 2022 Q4 2023 Q4 2024 Leverage Ratio (3) 3.7x 3.5x 3.2x 3.4x 2.9x For key referenc
Slide 26: 2024 Capital Allocation
2024 Capital Allocation Delivered on our debt Debt $3.7B paydown commitment and Paydown gross leverage target Share Returned capital to Capital Dividend Repurchases $825M shareholders via dividend Return $575M $250M and share repurchases Invested in Business Development $375M innovative portfolio to
Slide 27: Financial Guidance
Financial Guidance This document contains proprietary information of Viatris Inc. Unauthorized use, duplication, dissemination or disclosure to third parties is strictly prohibited. © 2025 Viatris Inc. All Rights Reserved. VIATRIS and the Viatris Logo are trademarks of Mylan Inc., a Viatris company.
Slide 28: 2025 Financial Guidance Key Assumptions
2025 Financial Guidance Key Assumptions ‣ Base business total revenues expected to decline ~1% on a divestiture-adjusted operational basis, including the estimated impact of Indore ‣ Expect full year FX headwind on Total Revenues of 2%-3% (1) ‣ Adjusted Gross Margin expected to step down from 2024 l
Slide 29: Indore Update
Indore Update • Following an inspection of our oral finished dose manufacturing facility in Indore, India by the U.S. FDA in June 2024, we received a warning letter and import alert related to this facility in December 2024 • The import alert affects 11 actively distributed products in the U.S., inc
Slide 30: 2025 Financial Guidance
2025 Financial Guidance ($M, except percentages and Adjusted EPS) Financial Guidance (1) Estimated Ranges Midpoint Key Metrics (1) Estimated Ranges Total Revenues $13,500 - $14,000 $13,750 Adjusted Gross Margin 56.0% - 57.0% Adjusted EBITDA $3,900 - $4,200 $4,050 Adjusted SG&A % of Total Revenues (2
Slide 31: 2025 Total Revenues Guidance Walk
2025 Total Revenues Guidance Walk ($M) +3% -1% ~14,650 ~14,250 ~14,150 ~400 ~500 ~13,750 ~375 (1) (2) (3) For key references and non-GAAP measures, see slide 3 (1) 2024 Adjusted Ex Divestitures refers to FY 2024 U.S. GAAP total revenues minus ~$490M related to the divestitures closed in 2024. (2) Ba
Slide 32: 2025 Adjusted EBITDA Guidance Walk
2025 Adjusted EBITDA Guidance Walk ($M) +2% ~4,515 -6% ~4,415 ~150 ~100 ~50 ~385 ~4,130 ~4,050 ~110 28 (1) (2) (3) (4) For key references and non-GAAP measures, see slide 3 (1) 2024 Adjusted Ex Divestitures refers to FY 2024 adjusted EBITDA minus ~$205M related to the divestitures closed in 2024 and
Slide 33: 2025 Free Cash Flow Guidance
2025 Free Cash Flow Guidance ($M) 2025 (1) Assumes following impacts from Adjusted EBITDA ‣ ~$515M Interest Expense U.S. GAAP Net Cash Provided by $2,200 - $2,500 ‣ ~$550M Taxes Operating Activities ‣ ~$600M One-time Operating Cash Costs and Change in Net Working Capital Capital Expenditures $300 -
Slide 34: 2025 Capital Allocation Framework
2025 Capital Allocation Framework Prioritize Capital Return with Focus on Share Repurchases Capital Return Business Development ‣ Expect $500M-$650M in share repurchases ‣ Continue to pursue licensing and partnership opportunities with immediate revenue ‣ Expect to be opportunistic with cash availab
Slide 35: Q&A
Q&A Scott A. Smith Doretta Mistras Philippe Martin Corinne Le Goff Chief Executive Officer Chief Financial Officer Chief R&D Officer Chief Commercial Officer This document contains proprietary information of Viatris Inc. Unauthorized use, duplication, dissemination or disclosure to third parties is
Slide 36: Appendix
Appendix This document contains proprietary information of Viatris Inc. Unauthorized use, duplication, dissemination or disclosure to third parties is strictly prohibited. © 2025 Viatris Inc. All Rights Reserved. VIATRIS and the Viatris Logo are trademarks of Mylan Inc., a Viatris company. 36
Slide 37: Q4 2024 Financial Highlights
Q4 2024 Financial Highlights ($M, except percentages and Adjusted EPS) Divestiture-Adj Q4 2024 Q4 2023 (1) Change Op Change Op Change Total Revenues $3,528 $3,837 (8%) (7%) 1% Adjusted EBITDA $984 $1,117 (12%) (12%) 0% Adjusted EPS $0.54 $0.62 (13%) (12%) 1% Free Cash Flow (3) $342 $403 (15%) Free C
Slide 38: Total Net Sales
Total Net Sales ($M) Q4 2024 Q4 2023 Change Op Change OPERATIONAL HIGHLIGHTS Q4 Performance vs. Prior Year Period Net Sales $3,515 $3,826 (8%) (7%) ‣ Brands: Expansion of our portfolio in Emerging Brands 2,166 2,402 (10%) (8%) Markets and JANZ, and strong growth in Greater China Generics 1,350 1,424
Slide 39: Developed Markets
Developed Markets ($M) Q4 2024 Q4 2023 Change Op Change OPERATIONAL HIGHLIGHTS Q4 Performance vs. Prior Year Period Net Sales $2,146 $2,319 (7%) (7%) ‣ Europe: ~$1.2B; +5% divestiture-adj op change Brands 1,101 1,315 (16%) (16%) ‣ North America: ~$0.9B; (3%) divestiture-adj op change Generics 1,045
Slide 40: Emerging Markets
Emerging Markets ($M) Q4 2024 Q4 2023 Change Op Change OPERATIONAL HIGHLIGHTS Q4 Performance vs. Prior Year Period Net Sales $513 $619 (17%) (13%) ‣ Brands: Expansion of cardiovascular portfolio in Brands 372 375 (1%) 7% certain Latin American countries and further strength in price and volume in ME
Slide 41: JANZ
JANZ ($M) Q4 2024 Q4 2023 Change Op Change OPERATIONAL HIGHLIGHTS Q4 Performance vs. Prior Year Period Net Sales $335 $372 (10%) (7%) ‣ Brands: New products in Australia and volume Brands 172 199 (14%) (12%) growth of promoted brands in Japan, more than offset by impact from government price Generic
Slide 42: Greater China
Greater China ($M) Q4 2024 Q4 2023 Change Op Change OPERATIONAL HIGHLIGHTS Q4 Performance vs. Prior Year Period Net Sales $522 $515 1% 2% ‣ Overall performance reflects strong volume Brands 520 513 1% 2% growth in China and across multiple channels, including E-commerce, retail, and private Generics
Slide 43: 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. © 2025 Viatris Inc. All Rights Reserved. VIATRIS and the Viatris Logo are trademarks of Mylan Inc., a Via
Slide 44: Full Year 2025 Financial Guidance Items as of February 27, 2025
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions, except Adjusted EPS) Full Year 2025 Financial Guidance Items as of February 27, 2025 (1) GAAP Non-GAAP Total Revenues $13,500 - $14,000 N/A Adjusted EBITDA N/A $3,900 - $4,200 Net Cash provided by
Slide 45: Reconciliation of Estimated 2025 Operating Cash Flow to Free Cash Flow
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions) Reconciliation of Estimated 2025 U.S. GAAP Net Cash Provided by Operating Activities to Free Cash Flow as of February 27, 2025 (1) Estimated U.S. GAAP Net Cash provided by Operating Activities $2,2
Slide 46: Full Year 2024 Financial Guidance Items as of November 7, 2024
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions, except Adjusted EPS) Full Year 2024 Financial Guidance Items as of November 7, 2024 (1) GAAP Non-GAAP Total Revenues $14,600 - $15,100 N/A Adjusted EBITDA N/A $4,575 - $4,845 Net Cash provided by $
Slide 47: 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 November 7, 2024 (1) Estimated U.S. GAAP Net Cash provided by Operating Activities $2,62
Slide 48: Net (Loss) Earnings to Adjusted Net Earnings and Adjusted EPS
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions, except per share amounts) Net (Loss) Earnings to Adjusted Net Earnings and U.S. GAAP Diluted (Loss) Earnings Per Share to Adjusted EPS Three Months Ended Year Ended December 31, December 31, 2024 2
Slide 49: Net (Loss) Earnings to EBITDA and Adjusted EBITDA
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions) Net (Loss) Earnings to EBITDA and Adjusted EBITDA Three Months Ended Year Ended December 31, December 31, 2024 2023 2024 2023 U.S. GAAP net (loss) earnings..........................................
Slide 50: Summary of Total Revenues by Segment – Q4 2024
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions, except %s) Summary of Total Revenues by Segment – Q4 2024 Three Months Ended December 31, Divestiture- 2024 Constant Constant Closed 2023 Adjusted Adjusted 2024 Currency Currency Currency % Divesti
Slide 51: Summary of Total Revenues by Segment – FY 2024
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions, except %s) Summary of Total Revenues by Segment – FY 2024 Year Ended December 31, Divestiture- 2024 Constant Constant Closed 2023 Adjusted Adjusted 2024 Currency Currency Currency % Divestitures Ex
Slide 52: Key Product Net Sales, on a Consolidated Basis
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions) Key Product Net Sales, on a Consolidated Basis Three Months Ended Year Ended December 31, December 31, 2024 2023 2024 2023 Select Key Global Products Lipitor ® $ 355.9 $ 379.8 $ 1,468.8 $ 1,559.3 N
Slide 53: 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, 2024 2023 2024 2023 U.S. GAAP cost of sales.........................................................................
Slide 54: 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, 2024 2023 2024 2023 U.S. GAAP SG&A.................................................................................... $ 1,04
Slide 55: 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, 2024 2023 2024 2023 U.S. GAAP R&D.......................................................... $ 206.5 $ 202.8 $ 808.7 $ 805.2 De
Slide 56: 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, 2024 2023 2024 2023 U.S. GAAP total operating expenses........................................ $ 1,394.8 $ 2,051.0 $
Slide 57: 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, 2024 2023 2024 2023 U.S. GAAP interest expense.................................................................. $ 120.2 $ 1
Slide 58: Other Expense (Income), Net
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions) Other Expense (Income), Net Three Months Ended Year Ended December 31, December 31, 2024 2023 2024 2023 U.S. GAAP other expense (income), net.................................................... $ 2
Slide 59: (Loss) Earnings Before Income Taxes and Income Tax Provision
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions, except %s) (Loss) Earnings Before Income Taxes and Income Tax (Benefit) Provision Three Months Ended Year Ended December 31, December 31, 2024 2023 2024 2023 U.S. GAAP (loss) earnings before income
Slide 60: Free Cash Flow and Free Cash Flow Excluding Transaction Costs
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions) Free Cash Flow and Free Cash Flow Excluding Transaction Costs Three Months Ended Year Ended December 31, December 31, 2024 2023 2024 2023 U.S. GAAP net cash provided by operating activities (a)...
Slide 61: 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 Free Cash Flow Since December 31, 2021 December 31, 2022 December 31, 2023 December 31, 2024 Beginning of 2021 U.S. GAAP net cash provided by opera
Slide 62: 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 December 31, 2024 to Viatris’ adjusted EBITDA for the year end
Slide 63: 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 (a)................................................................... $ 5,124.1 Report
Slide 64: Net Earnings to EBITDA and Adjusted EBITDA – Q4 2023
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions) Net Earnings to EBITDA and Adjusted EBITDA – Q4 2023 Year ended December 31, 2023 U.S. GAAP net earnings.............................................................................................
Slide 65: 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 Report
Slide 66: Net Earnings to EBITDA and Adjusted EBITDA – Q4 2022
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions) Net Earnings to EBITDA and Adjusted EBITDA – Q4 2022 Year ended December 31, 2022 U.S. GAAP net earnings.............................................................................................
Slide 67: 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 Report
Slide 68: Net Loss to EBITDA and Adjusted EBITDA – Q4 2021
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions) Net Loss to EBITDA and Adjusted EBITDA – Q4 2021 Year ended December 31, 2021 U.S. GAAP net loss.....................................................................................................
Slide 69: 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 Report
Slide 70: Net Loss to EBITDA and Combined Adjusted EBITDA – Q4 2020
Viatris Inc. and Subsidiaries | Reconciliation of Non-GAAP Financial Measures (Unaudited; in millions) Net Loss to EBITDA and Combined Adjusted EBITDA – Q4 2020 Year ended December 31, 2020 U.S. GAAP net loss............................................................................................