NEW YORK,
May 12,
2023 /PRNewswire/ -- Jakubowitz Law announces that an
investigation into potential securities fraud allegations has
commenced on behalf of shareholders of Viatris Inc. (NasdaqGS:
VTRS)
To be contacted by a member of our team, fill
out the form:
https://claimyourloss.com/securities/viatris-inc-class-action-loss-submission-form/?from=4
Further details on the investigation:
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.
Jakubowitz Law is vigorous in pursuit of justice
for shareholders who have been the victim of securities fraud.
Attorney advertising. Prior results do not guarantee similar
outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (628) 895-0423
F: (212) 537-5887
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SOURCE Jakubowitz Law