• Delivers Total Revenues of $3.75 Billion, U.S. GAAP Net Loss of $325 Million and Adjusted EBITDA of $1.20 Billion
• Receives Regulatory Approval for RYZUMVI® for Presbyopia in the U.S. and WAKIX® in Japan
• Returns Approximately $717 Million of Capital to Shareholders Year to Date, Including Through Share Repurchases
• Advances Innovative Medicines Strategy with Planned Acquisition of Pacira BioSciences, Expected to Close by the End of November
• Raises 2026 Financial Guidance Midpoints for All Metrics [1]

PITTSBURGH, Nov. 5, 2026 /PRNewswire/ — Viatris Inc. (Nasdaq: VTRS), a global healthcare company, today announced its third-quarter 2026 financial results.

Executive Commentary

“Our third-quarter results reflect strong execution and reinforce our confidence in the growth trajectory of our business,” said Scott A. Smith, CEO, Viatris. “Momentum across key areas of our base business, progress in our pipeline and the benefits of our enterprise-wide strategic review continue to strengthen our company. With the recent U.S. launch of Gwyn Lo, approvals of RYZUMVI in the U.S. and WAKIX in Japan, the potential upcoming approval and launch of fast-acting meloxicam and our recently announced agreement to acquire Pacira BioSciences, we are taking important steps to position Viatris for sustained revenue and earnings growth.”

“We are very pleased with the operational momentum across our higher-margin businesses and continued focus on cost discipline, which led to strong overall third-quarter results,” said Paul Campbell, Interim CFO, Chief Accounting Officer & Corporate Controller, Viatris. “Based on this performance and our confidence in the outlook for the rest of the year, we are once again raising the midpoints of our financial guidance ranges across all key metrics. Also, consistent with our disciplined and balanced capital allocation strategy, we continued returning additional value to shareholders in the quarter and expect the Pacira transaction to have minimal impact on our gross leverage ratio upon expected closing by the end of November.” 

[1] Viatris is not providing forward-looking guidance for U.S. GAAP net earnings (loss) or U.S. GAAP diluted EPS (loss) or a quantitative reconciliation of its 2026 adjusted EBITDA or adjusted EPS guidance. U.S. GAAP net cash provided by operating activities for 2026 is estimated to be between $2.025 billion and $2.1 billion, with a midpoint of approximately $2.0625 billion. 2026 financial guidance ranges as provided on November 5, 2026, exclude the impact of any transaction-related and restructuring-related costs (as defined below) and acquired IPR&D for unsigned deals as they cannot be reasonably forecasted. 2026 financial guidance ranges also exclude any contribution from the planned acquisition of Pacira BioSciences. Please see “2026 Financial Guidance” and “Non-GAAP Financial Measures” for additional information.

Third-Quarter Results

Financial Highlights for the Third Quarter of 2026

• Total revenues were $3.75 billion, essentially flat on both a reported and operational basis compared to third-quarter 2025 results, as new product sales, primarily in Developed Markets, the strength of the North American business, and strong net sales in Greater China largely offset the impact of continued supply constraints in Europe and Emerging Markets and additional competition on certain products.
    
• Brands net sales reflect continued strength in Greater China and Emerging Markets.
    
• Generics net sales reflect contributions from new product launches and growth in certain products in North America, more than offset by continued supply constraints in Europe and Emerging Markets.
    
• The Company generated approximately $115 million in new product revenues (approximately $287 million for the year) and now expects to deliver approximately $450 million in new product revenues in full-year 2026.
    
• U.S. GAAP net loss was $325 million compared to U.S. GAAP net loss of $128 million in the third quarter of 2025 and U.S. GAAP diluted loss per share was $(0.28) compared to a loss of $(0.11) per share in the third quarter of 2025. The loss in the third quarter of 2026 was primarily driven by an increase in income tax provision due to losses in jurisdictions for which minimal benefit can be realized.
    
• Adjusted EBITDA was $1.20 billion, up 4% on a reported basis and up 1% on an operational basis compared to the third quarter of 2025, and adjusted EPS was $0.71 per share, up 6% on a reported basis and up 3% on an operational basis compared to the third quarter of 2025.
    
• The Company generated U.S. GAAP net cash provided by operating activities of $899 million ($1.67 billion for the year) and free cash flow, excluding the impact of transaction-related and restructuring-related costs, of $895 million ($1.80 billion for the year).

Additional Highlights

• In October, the Company launched Gwyn Lo™ (norelgestromin and ethinyl estradiol transdermal system) in the U.S. Gwyn Lo is a combined hormonal contraceptive (CHC) patch indicated for the prevention of pregnancy in women with a BMI < 30 kg/m2. Approved by the U.S. Food and Drug Administration (FDA) in July, Gwyn Lo is designed to provide a low-dose estrogen, non-daily contraceptive option for appropriate patients.
    
• In October, the Company announced that the FDA approved RYZUMVI^® (phentolamine ophthalmic solution 0.75%) for the treatment of presbyopia in adults. RYZUMVI was previously approved in the U.S. for the treatment of pharmacologically induced mydriasis and is the only commercially available FDA-approved product for that use. This approval expands the product’s indications to include presbyopia.
    
• In October, the Company and Pacira BioSciences, Inc. (Nasdaq: PCRX), a leader in innovative non-opioid pain therapies, announced that they entered into a definitive agreement under which Viatris has agreed to acquire all of the outstanding shares of common stock of Pacira for $36.50 per share in cash, representing an aggregate equity value of $1.65 billion. The transaction is expected to close by the end of November 2026.
    
• In September, the Company announced that Japan’s Ministry of Health, Labour and Welfare granted approval for WAKIX® (pitolisant) for the treatment of excessive daytime sleepiness (EDS) associated with obstructive sleep apnea syndrome (OSAS) in patients receiving treatment for airway obstruction, and approval for narcolepsy (type 1 and 2 – with and without cataplexy).
     
• In September, the Company received notice from the FDA that the inspection classification of Company’s oral solid dose manufacturing facility in Nashik, India was Official Action Indicated, following the issuance of 483 observations in May. In October, out of an abundance of caution, the Company voluntarily suspended manufacturing at the facility to focus on remediation activities. The Company expects to resume production at the facility during the first quarter of 2027. The Company estimates the total revenue impact of supply constraints was approximately $100 million in the third quarter of 2026 and currently anticipates an impact of approximately $100 million to total revenues in the fourth quarter of 2026.

Capital Allocation

Through September 30, 2026, the Company has returned approximately $717 million of capital to shareholders, including approximately $300 million through share repurchases. The Company has approximately $700 million remaining under its existing board-authorized share repurchase program, providing continued flexibility to return additional capital to shareholders.

2026 Financial Guidance

Viatris is raising the midpoints of its 2026 financial guidance ranges, each as set forth below. The Company is not providing forward-looking guidance for U.S. GAAP net earnings (loss) or U.S. GAAP diluted earnings (loss) per share (EPS) or a quantitative reconciliation of its 2026 adjusted EBITDA or adjusted EPS guidance to the most directly comparable U.S. GAAP measures, U.S. GAAP net earnings (loss) or U.S. GAAP diluted EPS, respectively, because it is unable to predict with reasonable certainty the ultimate outcome of certain significant items, including integration, acquisition and divestiture-related expenses, restructuring expenses, asset impairments, litigation settlements, future share repurchases, and other contingencies, such as changes to contingent consideration, acquired IPR&D and certain other gains or losses as well as related income tax accounting, because certain of these items have not occurred, are out of the Company’s control and/or cannot be reasonably predicted without unreasonable effort. These items are uncertain, depend on various factors, and could have a material impact on U.S. GAAP reported results for the guidance period. With respect to the Estimated Ranges as provided on November 5, 2026, U.S. GAAP net cash provided by operating activities for 2026 is estimated to be between $2.025 billion and $2.1 billion, with a midpoint of approximately $2.0625 billion. With respect to the Estimated Ranges as provided on August 6, 2026, U.S. GAAP net cash provided by operating activities for 2026 was estimated to be between $1.9 billion and $2.1 billion, with a midpoint of approximately $2.0 billion.

Conference Call and Earnings Materials

As previously announced, Viatris will host a conference call and live webcast, today at 8:30 a.m. ET, to review the Company’s third-quarter 2026 financial results and the planned acquisition of Pacira BioSciences. Investors and the general public are invited to listen to a live webcast of the call at investor.viatris.com or by calling 844.308.3344 or 412.317.1896 for international callers. The “Viatris Q3 2026 Earnings Presentation,” which will be referenced during the call, can be found at investor.viatris.com. A replay of the webcast also will be available on the website. 

About Viatris

Viatris Inc. (Nasdaq: VTRS) is a global healthcare company whose mission is to empower people worldwide to live healthier at every stage of life. We meet the needs of patients around the world by acting decisively with ingenuity and resolve. Whether we’re developing new medicines, working to maintain a resilient supply of needed therapies, or pursuing bold innovation, we strive to deliver solutions that are effective at scale and built to endure. We’re purpose-built to make an impact with a broad portfolio that spans generics, value-added medicines, established brands and innovative medicines that address areas of significant unmet need. We are headquartered in the U.S., with global centers in Pittsburgh, Shanghai and Hyderabad, India. Learn more at viatris.com and investor.viatris.com, and connect with us on LinkedIn, Instagram, YouTube and X.

Non-GAAP Financial Measures

This press release includes the presentation and discussion of certain financial information that differs from what is reported under accounting principles generally accepted in the United States (“U.S. GAAP”). These non-GAAP financial measures, including, but not limited to, adjusted gross profit, adjusted gross margins, adjusted net earnings, adjusted EPS, EBITDA, adjusted EBITDA, free cash flow, free cash flow excluding the impact of transaction-related and restructuring-related costs, adjusted R&D and as a % of total revenues, adjusted SG&A and as a % of total revenues, adjusted earnings from operations, adjusted interest expense, adjusted other income, net, adjusted effective tax rate, constant currency total revenues, constant currency net sales, constant currency adjusted EBITDA, constant currency adjusted EPS, notional debt, gross leverage ratio and long-term gross leverage ratio target, are presented in order to supplement investors’ and other readers’ understanding and assessment of the financial performance of Viatris Inc. (“Viatris” or the “Company”). Free cash flow refers to U.S. GAAP net cash provided by operating activities less capital expenditures. Management uses these measures internally for forecasting, budgeting, measuring its operating performance, and incentive-based awards. Primarily due to acquisitions, divestitures and other significant events which may impact comparability of our periodic operating results, Viatris believes that an evaluation of its ongoing operations (and comparisons of its current operations with historical and future operations) would be difficult if the disclosure of its financial results was limited to financial measures prepared only in accordance with U.S. GAAP. We believe that non-GAAP financial measures are useful supplemental information for our investors and when considered together with our U.S. GAAP financial measures and the reconciliation to the most directly comparable U.S. GAAP financial measure, provide a more complete understanding of the factors and trends affecting our operations. The financial performance of the Company is measured by senior management, in part, using adjusted metrics included herein, along with other performance metrics. In addition, the Company believes that including EBITDA and supplemental adjustments applied in presenting adjusted EBITDA is appropriate to provide additional information to investors to demonstrate the Company’s ability to comply with financial debt covenants and assess the Company’s ability to incur additional indebtedness. The Company also believes that adjusted EBITDA better focuses management on the Company’s underlying operational results and true business performance and is used, in part, for management’s incentive compensation. We also report sales performance using the non-GAAP financial measures of “constant currency”, also referred to herein as “operational change”, total revenues, net sales, adjusted EBITDA, and adjusted EPS. These measures provide information on the change in total revenues, net sales, adjusted EBITDA, and adjusted EPS assuming that foreign currency exchange rates had not changed between the prior and current period. The comparisons presented at constant currency rates reflect comparative local currency sales at the prior year’s foreign exchange rates. We routinely evaluate our net sales, total revenues, adjusted EBITDA, and adjusted EPS performance at constant currency so that sales results can be viewed without the impact of foreign currency exchange rates, thereby facilitating a period-to-period comparison of our operational activities and believe that this presentation also provides useful information to investors for the same reason. The “Summary of Total Revenues by Segment” table below compares total revenues and net sales on an actual and constant currency basis for each reportable segment for the three and nine months ended September 30, 2026 and 2025. Also, set forth below, Viatris has provided reconciliations of such non-GAAP financial measures to the most directly comparable U.S. GAAP financial measures. Investors and other readers are encouraged to review the related U.S. GAAP financial measures and the reconciliations of the non-GAAP measures to their most directly comparable U.S. GAAP measures set forth below, and investors and other readers should consider non-GAAP measures only as supplements to, not as substitutes for or as superior measures to, the measures of financial performance prepared in accordance with U.S. GAAP. For additional information regarding the components and uses of non-GAAP financial measures refer to Management’s Discussion and Analysis of Financial Condition and Results of Operations–Use of Non-GAAP Financial Measures section of Viatris’ Quarterly Report on Form 10-Q for the three and nine months ended September 30, 2026.

With respect to the guidance ranges as provided on August 6, 2026, at that time the Company did not provide forward-looking guidance for U.S. GAAP net earnings (loss) or U.S. GAAP diluted EPS or a quantitative reconciliation of its 2026 adjusted EBITDA or adjusted EPS guidance to the most directly comparable U.S. GAAP measures, U.S. GAAP net earnings (loss) or U.S. GAAP diluted EPS, respectively, because it was unable to predict with reasonable certainty the ultimate outcome of certain significant items, including integration, acquisition and divestiture-related expenses, restructuring expenses, asset impairments, litigation settlements, future share repurchases, and other contingencies, such as changes to contingent consideration, acquired IPR&D and certain other gains or losses, as well as related income tax accounting, because certain of these items had not occurred, were out of the Company’s control, and/or could not be reasonably predicted without unreasonable effort. These items were uncertain, depended on various factors, and could have had a material impact on U.S. GAAP reported results for the guidance period. As previously disclosed, such guidance ranges excluded the impact of transaction-related and restructuring-related costs as well as any acquired IPR&D for unsigned deals to be incurred in any future period as it could not be reasonably forecasted. With respect to the Estimated Ranges as provided on August 6, 2026, U.S. GAAP net cash provided by operating activities for 2026 was estimated to be between $1.9 billion and $2.1 billion, with a midpoint of approximately $2.0 billion.

Certain Key Terms and Presentation Matters

New product sales, new product launches or new product revenues: Refers to revenue from new products launched in 2026 and the carryover impact of new products, including business development, launched within the last 12 months.

Operational change: Refers to constant currency percentage changes and is derived by translating amounts for the current period at prior year comparative period exchange rates and in doing so shows the percentage change from 2026 constant currency net sales, total revenues, adjusted EBITDA, and adjusted EPS to the corresponding amount in the prior year.

Transaction-related costs: Refers to the impact of any acquisition and divestiture-related transaction costs, including taxes.

Restructuring-related costs: Refers to the impact of any cash costs associated with the restructuring activities of the enterprise-wide strategic review, which are expected to be primarily related to severance and employee benefits expense, as well as other costs, including those related to contract terminations, vendor consolidations, product transfer costs and network related simplification and modernization costs.

Revenue and Earnings: Refers to Total Revenues, Adjusted EBITDA and Adjusted EPS.

Forward-Looking Statements 

This press release 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 2026 financial guidance; advances innovative medicines strategy with planned acquisition of Pacira BioSciences, expected to close by the end of November; our third-quarter results reflect strong execution and reinforce our confidence in the growth trajectory of our business’ momentum across key areas of our base business, progress in our pipeline and the benefits of our enterprise-wide strategic review continue to strengthen our company; with the recent U.S. launch of Gwyn Lo, approvals of RYZUMVI in the U.S. and WAKIX in Japan, the potential upcoming approval and launch of fast-acting meloxicam and our recently announced agreement to acquire Pacira BioSciences, we are taking important steps to position Viatris for sustained revenue and earnings growth; we are very pleased with the operational momentum across our higher-margin businesses and continued focus on cost discipline, which led to strong overall third-quarter results; based on this performance and our confidence in the outlook for the rest of the year, we are once again raising the midpoints of our financial guidance ranges across all key metrics; consistent with our disciplined and balanced capital allocation strategy, we continued returning additional value to shareholders in the quarter and expect the Pacira transaction to have minimal impact on our gross leverage ratio upon expected closing by the end of November; now expects to deliver approximately $450 million in new product revenues in full-year 2026; the Company expects to resume production at the facility during the first quarter of 2027; the Company estimates the total revenue impact of supply constraints was approximately $100 million in the third quarter of 2026 and currently anticipates an impact of approximately $100 million to total revenues in the fourth quarter of 2026; the Company has approximately $700 million remaining under its existing board-authorized share repurchase program, providing continued flexibility to return additional capital to shareholders; the goals or outlooks with respect to the Company’s strategic initiatives and priorities, including but not limited to divestitures, acquisitions, strategic alliances, collaborations, or other potential transactions; the anticipated benefits of such strategic initiatives or priorities or restructuring activities; future opportunities for the Company and its products; the outcomes of clinical trials and research studies; R&D and new product development; and any other statements regarding the Company’s future operations, financial or operating results, capital allocation, dividend policy and payments, share repurchases, debt ratio and covenants, anticipated business levels, future earnings, planned activities, anticipated growth, market opportunities, strategies, imperatives, competitions, commitments, confidence in future results, efforts to create, enhance or otherwise unlock value, and other expectations and targets for future periods. Forward-looking statements may often be identified by the use of words such as “will”, “may”, “could”, “should”, “would”, “project”, “believe”, “anticipate”, “expect”, “plan”, “estimate”, “forecast”, “potential”, “pipeline”, “intend”, “continue”, “target”, “seek” and variations of these words or comparable words. Because forward-looking statements inherently involve risks and uncertainties, actual future results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to: the possibility that the Company may not realize the intended benefits of, or achieve the intended goals or outlooks with respect to, its strategic initiatives and priorities; the possibility that the Company may be unable to achieve the intended or expected benefits of its enterprise-wide strategic review and related cost-saving and restructuring activities within the expected timeframe or at all; the possibility that the Company may be unable to achieve intended or expected benefits in connection with divestitures, acquisitions, strategic alliances, collaborations, or other transactions, or restructuring programs, within the expected timeframes or at all; the possibility that the Company may not complete the proposed acquisition of Pacira within the timeframe it anticipates or at all and, if completed, the possibility that the Company may not realize the anticipated benefits, synergies and operating efficiencies of the proposed acquisition; goodwill or impairment charges or other losses; success of clinical trials and the Company’s or its partners’ ability to execute on new product opportunities and develop, manufacture and commercialize products; any changes in or difficulties with the Company’s manufacturing facilities, including with respect to short- or long-term shutdowns, inspections, remediation and restructuring activities, supply chain continuity, inventory management, or the ability to meet anticipated demand; the Company’s failure to achieve expected or targeted future financial and operating performance and results; the potential impact of natural or man-made disasters, public health outbreaks, fires, accidents, weather, unrest or other emergencies in regions where we or our partners or suppliers operate; actions and decisions of healthcare and pharmaceutical regulators; changes in relevant laws, regulations and policies and/or the application or implementation thereof, including but not limited to tax, healthcare and pharmaceutical laws, regulations and policies globally; the ability to attract, motivate and retain key personnel; the Company’s liquidity, capital resources and ability to obtain financing; any regulatory, legal or other impediments to the Company’s ability to bring new products to market; products in development that receive regulatory approval may not achieve expected levels of market acceptance, efficacy or safety; longer review, response and approval times as a result of evolving regulatory priorities and reductions in personnel at health agencies; the scope, timing and outcome of any ongoing legal proceedings, including government inquiries or investigations, and the impact of any such proceedings on the Company; any significant breach of data security or data privacy or disruptions to our IT systems; risks associated with having significant operations globally; the ability to protect intellectual property and preserve intellectual property rights; changes in third-party relationships; the effect of any changes in the Company’s or its partners’ customer and supplier relationships and customer purchasing patterns, including customer loss and business disruption being greater than expected following an adverse regulatory action, acquisition or divestiture; the impacts of competition, including decreases in sales or revenues as a result of the loss of market exclusivity for certain products; changes in the economic and financial conditions of the Company or its partners; uncertainties regarding future demand, pricing and reimbursement for the Company’s products; uncertainties and matters beyond the control of management, including but not limited to general political and economic conditions, wars or other conflicts, potential for adverse impacts from future tariffs and trade restrictions, inflation rates and global exchange rates; and inherent uncertainties involved in the estimates and judgments used in the preparation of financial statements, and the providing of estimates of financial measures, in accordance with U.S. GAAP and related standards or on an adjusted basis. For more detailed information on the risks and uncertainties associated with Viatris, see the risks described in Part I, Item 1A of the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, Part II, Item 1A of the Company’s Quarterly Report on Form 10-Q for the three months ended September 30, 2026, and our other filings with the SEC. You can access Viatris’ filings with the SEC through the SEC website at www.sec.gov or through our website, and Viatris strongly encourages you to do so. Viatris routinely posts information that may be important to investors on our website at investor.viatris.com, and we use this website address as a means of disclosing material information to the public in a broad, non-exclusionary manner for purposes of the SEC’s Regulation Fair Disclosure (Reg FD). The contents of our website are not incorporated into this press release or our filings with the SEC. Viatris undertakes no obligation to update any statements herein for revisions or changes after the date of this press release other than as required by law.

Reconciliation of U.S. GAAP Net Loss to EBITDA and Adjusted EBITDA

Below is a reconciliation of U.S. GAAP net loss to EBITDA and adjusted EBITDA for the three and nine months ended September 30, 2026, compared to the prior year period:

Summary of Total Revenues by Segment

Reconciliation of Statements of Operations Line Items

Gross Leverage Ratio

Gross Leverage Ratio is the ratio of Viatris’ total debt at notional amounts at September 30, 2026 to the sum of Viatris’ adjusted EBITDA for the quarters ended December 31, 2025, March 31, 2026, June 30, 2026 and September 30, 2026.

Long-term Gross Leverage Target

The stated forward-looking non-GAAP financial measure of long-term gross leverage target range of 2.8x – 3.2x, is based on the ratio of (i) targeted notional gross debt and (ii) targeted Adjusted EBITDA. However, the Company has not quantified future amounts to develop this target but has stated its goal to manage notional gross debt and Adjusted EBITDA over time in order to generally maintain or reach the target. This target does not reflect Company guidance.

Reconciliation of U.S. GAAP Net Loss to EBITDA and Adjusted EBITDA – Last Twelve Months

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