The name of the corporation comes from the Latin words via, meaning path, and tris, which means three, referring to the path to three main objectives the corporation set: expanding access to medicines, meeting patient needs through innovation, and earning the trust of the healthcare community.[3][4]
Viatris ranked 254th on the 2021
Fortune 500 rankings of the largest United States corporations based on its 2020 total revenue.[5]
Following the combination, the company began trading on the NASDAQ using the ticker symbol VTRS.[2]
In December 2020, the company announced a cost-reducing restructuring plan that would impact up to 20% of its global workforce, or 9,000 jobs at its facilities around the world.[7][8][9]
In 2021, Viatris was ranked 5th by
Fortune on its annual "Change the World" list for having "transformed the treatment of HIV around the world in the [previous] five years through the first low-cost
antiretroviral drug for
first-line treatment of HIV and a children's version in the form of fruit-flavored tablets that dissolve in liquid.[10]
In February 2022, Viatris announced an agreement where it will contribute to
Biocon Biologics its
biosimilars portfolio and related commercial and operational capabilities in exchange for up to $3.335 billion, including a stake of at least 12.9% in Biocon Biologics.[11] The transaction was completed in November 2022.[12]
In November 2022, the business agreed to acquire
Oyster Point Pharma and Famy Life Sciences for an aggregate of $700–750 million to create an ophthalmology division.[13][14] The acquisitions closed in January 2023.[15][16]
In 2022 and 2024, Viatris was recognized by Forbes as one of the world's best employers[17] and by Newsweek as one of America's most responsible companies.[18][19]
On April 1, 2023, Scott A. Smith became Viatris' CEO, succeeding Michael Goettler. Smith previously served on the company's board since 2022. [20]
In April 2023, Viatris was recognized by
LinkedIn as one of the 25 best companies to work for in India,[21] and one of the 25 best companies offering career development in Ireland.[22]
In May 2023,
USA Today included Viatris in its list of 400 US companies that have reduced their
greenhouse gas emissions intensity from 2019 to 2021. [23]
In June 2023, Viatris was named to the
Forbes Global 2000 list of the world's largest companies.[24]
In October 2023, Viatris reached agreements to divest from almost all of its OTC business, its women’s healthcare business, and its India-based active pharmaceutical ingredients business for a total of about $3.6 billion.[25]
Predecessors
The following is an illustration of the company's major mergers and acquisitions and historical predecessors:
The following products have been newly launched or received regulatory approvals since Viatris was established include:
Dolutegravir: In December 2020, received
FDA approval to treat children with HIV/AIDS in low to middle income countries. The formulation is strawberry-flavored to make it easier to give to children and was made available at a 75% discount compared to previous treatments.[31][32]
Breyna (budesonide and formoterol fumarate dihydrate inhalation aerosol): In March 2022, received approval from the US FDA in March 2022 as the first generic version of
Symbicort for the treatment of
asthma and
COPD.[33][34]
Ryzumvi (
phentolamine ophthalmic solution 0.75%): In September 2023, received FDA approval for the treatment of
mydriasis caused by
adrenergic agonist or
parasympatholytic agents or a combination of those drugs. It was previously known as Nyxol.[39]
Partnerships
Following the formation of Viatris, the company became a member of the Biosimilars Forum, a trade organization that advocates for greater biosimilar usage.[28]
In December 2020, the company worked with
Sesame Workshop to create resources to help children and their caregivers manage their social and emotional needs impacted by the COVID-19 pandemic.[42][43]
In April 2021, the company partnered with Atomo Diagnostics and
Unitaid to expand access to HIV self-testing to 135 countries and lower the price of the tests by around 50%.[44][45]