NEW
YORK, May 3, 2023 /PRNewswire/ -- The Gross Law
Firm issues the following notice to shareholders of Viatris
Inc.:
Before the market opened on February 28,
2022, Viatris unexpectedly announced the Company had entered
into an agreement to sell its biosimilars business to Biocon
Biologics Limited, which was anticipated to close in the second
half of 2022. Additionally, Viatris announced that it was seeking
to divest additional business assets and undertaking a significant
global reshaping of its business, which would focus on developing
products in three core therapeutic areas: ophthalmology,
gastrointestinal and dermatology. Viatris also announced lower-than
expected guidance for fiscal year 2022 with total revenues expected
to be between $17.0 to $17.5 billion, adjusted EBITDA expected to be
$5.8 to $6.2
billion, and free cash flow expected to be $2.5 to $2.9
billion. Viatris attributed the lower-than expected
guidance, in part, to competition around key products, price
deterioration in certain markets, foreign exchange impacts,
inflation, and a lower adjusted EBITDA margin for the biosimilar
business due to its partnership structure and profit-sharing
arrangements.
Following this news, Viatris' stock price fell approximately 24%
to close at $11.01 per share on
February 28, 2022.
Due to the forgoing, The Gross Law Firm is investigating
potential securities fraud claims on behalf of certain Viatris
investors. If you incurred a loss on your VTRS investment, please
contact us using the link below to discuss your rights.
https://securitiesclasslaw.com/securities/viatris-inc-loss-submission-form/?from=4
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally
recognized class action law firm, and our mission is to protect the
rights of all investors who have suffered as a result of deceit,
fraud, and illegal business practices. The Gross Law Firm is
committed to ensuring that companies adhere to responsible business
practices and engage in good corporate citizenship. The firm seeks
recovery on behalf of investors who incurred losses when false
and/or misleading statements or the omission of material
information by a company lead to artificial inflation of the
company's stock. Attorney advertising. Prior results do not
guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (646) 453-8903
View original
content:https://www.prnewswire.com/news-releases/investigation-alert-the-gross-law-firm-notifies-shareholders-of-viatris-inc-of-an-investigation-and-potential-class-action-lawsuit--nasdaqgs-vtrs-301815067.html
SOURCE The Gross Law Firm