Viatris Inc. (VTRS) is set to broaden its therapeutic pipeline through a global research and development collaboration with Idorsia Ltd., a Swiss biopharmaceutical company. This strategic move grants Viatris exclusive global rights to develop and commercialize two Phase III assets: selatogrel and cenerimod. The deal, expected to close at the end of March, positions Viatris to strengthen its presence in both the cardiovascular and immunology spaces.
Selatogrel: A Potential Life-Saving Therapy for Heart Attack Patients
Selatogrel is an investigational self-administered drug designed for patients with a history of acute myocardial infarction (heart attack). This potential life-saving medicine aligns with Viatris' existing expertise in the cardiovascular field, offering a new approach to managing and potentially mitigating the risks associated with heart attacks. The drug's self-administration feature could provide critical intervention in emergency situations, potentially reducing mortality and morbidity rates among high-risk patients.
Cenerimod: A Novel Approach to Treating Systemic Lupus Erythematosus
Cenerimod represents a novel immunology asset with the potential to be a first-in-class oral therapy for systemic lupus erythematosus (SLE), the most common form of lupus. SLE is a chronic autoimmune disease characterized by inflammation and tissue damage affecting various organs. Viatris plans to further investigate cenerimod for multiple other autoimmune indications, expanding its potential therapeutic applications. The development of an effective oral therapy for SLE could significantly improve the quality of life for patients, offering a more convenient and manageable treatment option compared to existing therapies.
Viatris' Recent Financial Performance
In its recent financial results, Viatris reported adjusted earnings of 61 cents per share for the fourth quarter of 2023, falling short of the Zacks Consensus Estimate of 67 cents. Total revenues reached $3.8 billion, a 1% increase year-over-year on a divestiture-adjusted operational basis, but also slightly below the Zacks Consensus Estimate of $3.9 million. Despite these misses, certain key brands demonstrated strong performance. Lipitor sales increased by 3% to $379.8 million, while Yupelri sales rose by 8% to $60.5 million. The company's generics business also showed promise, generating $107 million in new product revenues, driven by the launch of generic lenalidomide and Breyna (generic for Symbicort) in the United States.
For 2024, Viatris projects total revenues between $15.25 billion and $15.75 billion, with adjusted earnings per share expected in the range of $2.70-$2.85.
