Full Press Release Details
PITTSBURGH , March 1, 2021 /PRNewswire/ -- At a virtual meeting with the investment community today, Viatris Inc. (NASDAQ: VTRS ) will outline how the company expects to lead as a new kind of healthcare company with a unique and differentiated business model, high-quality operational platform and clear focus on ensuring its sustainability priorities and financial commitments are met.
Viatris CEO Michael Goettler said, "Building on a strong, combined foundation, we are embarking on a multi-year journey to transform our company. We believe that we are well positioned to achieve our goals by leveraging our strengths and unique capabilities. We are relentless in our commitment to continuous improvement and high quality. Our obsession to create value in everything we do will serve as our north star. With talented and committed colleagues, an engaged culture and clear strategy, we are confident we can deliver enhanced shareholder value as we execute.
"Together we are confident we will be able to pursue our mission to empower people worldwide to live healthier at every stage of life while maintaining a strong balance sheet, rebalancing our business, generating strong and growing free cash flows, rapidly de-leveraging and building the foundation for future growth fueled by our Global Healthcare Gateway ® ," Goettler said.
During the event, members of Viatris' management team will provide insight into the company's powerful new platform and will also outline how Viatris intends to generate value for its patients, employees, customers and shareholders. This includes how Viatris expects to:
2021 Investor Day Presenters
Investor Day will feature presentations from the following Viatris executives:
Full biographies of the speakers can be found at the end of the Viatris Investor Day presentation at investor.viatris.com .
Following the presentations there will be an open Q&A session, facilitated by Goettler, Malik and Narula.
Webcast Details
Viatris will host a webcast today from 8:30 a.m. to noon ET . Interested parties will be able to access a live webcast of the Investor Day event via the investor relations section of Viatris' website at investor.viatris.com , with materials available at the start of the webcast. A replay and archived edition of the presentation will be available following the event.
Viatris Inc. (NASDAQ: VTRS ) is a new kind of healthcare company, empowering people worldwide to live healthier at every stage of life. We provide access to medicines, advance sustainable operations, develop innovative solutions and leverage our collective expertise to connect more people to more products and services through our one-of-a-kind Global Healthcare Gateway ® . Formed in November 2020 through the combination of Mylan and Pfizer's Upjohn business, Viatris brings together scientific, manufacturing and distribution expertise with proven regulatory, medical and commercial capabilities to deliver high-quality medicines to patients in more than 165 countries and territories. Viatris' portfolio comprises more than 1,400 approved molecules across a wide range of therapeutic areas, spanning both non-communicable and infectious diseases, including globally recognized brands, complex generic and branded medicines, a growing portfolio of biosimilars and a variety of over-the-counter consumer products. With a global workforce of approximately 45,000, Viatris is 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 Twitter at @ViatrisInc , LinkedIn and YouTube .
Non-GAAP Financial Measures
Management uses free cash flow and adjusted EBITDA internally for forecasting, budgeting, measuring its operating performance, and/or incentive-based awards. Primarily due to acquisitions 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 United States generally accepted accounting principles ("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 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. 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. See Viatris' website at investor.viatris.com for more information about non-GAAP financial measures.
Forward-Looking Statements
SOURCE Viatris Inc.