Famy Life Sciences Pvt Ltd.

Viatris last year sold its biosimilars business to Biocon Biologics in a deal worth $3.33 billion. As Viatris looks to reestablish itself as a focused eye care company, the company is slimming down by shedding its over-the-counter, women’s healthcare and active pharmaceutical ingredient businesses. At the same time, the company is hauling in billions of dollars in cash. With the deals, the company plans to transfer up to 12 facilities and more than 6,000 employees to the new owners of the businesses. Sunday, Viatris said it accepted an offer from Cooper Consumer Health to sell off its OTC business, plus manufacturing sites in France and Italy and an R&D site in Italy. That portfolio is netting up to $2.17 billion. The deal doesn’t include popular erectile dysfunction med Viagra nor the nasal spray Dymista plus “other select OTC assets," the company said. The OTC deal is expected to close in the second quarter of 2024. Viatris also inked a deal to sell its API business in India to IQuest Enterprises. The business features six manufacturing sites and an R&D lab. That deal is expected to close in the first quarter of next year.  Further, Spanish multinational pharma Insud Pharma will take on Viatris’ women healthcare business in a deal that’s also expected to close in the first quarter of 2024. Insud will also get two manufacturing facilities. The latter two deals are worth a combined $1.2 billion. In all, Viatris said its total "non-core" divestitures were valued at $3.6 billion. Before these sales, Viatris last year exited the biosimilar field by selling its unit to partner Biocon Biologics  The divestitures stand to “substantially simplify” Viatris, including its workforce. More than 6,000 employees are set to leave the drugmaker with the most recent deals. With the moves, phase 1 of the company’s return to growth strategy is complete, enabling the company to move into its next strategic phase in 2024, CEO Scott Smith said in a statement. Phase 2 involves growing Viatris' ophthalmology franchise and offsetting base business erosion through its pipeline of complex injectable generics. If all goes to plan, Viatris plans to pick up $1 billion in eye care sales by 2028. Bolstering the goal are the drugmaker's recent buys of ophthalmology specialists Oyster Point Pharma and Famy Life Sciences for up to $750 million. Just recently, the company scored an FDA nod for its Ocuphire-partnered Ryzumvi, which treats pharmacologically induced mydriasis, or pupil dilation, and is expected to be available in the U.S. over the first half of next year. Ocuphire originally entered the licensing agreement with Famy Life Sciences before Viatris took over Famy.

One of Viatris' divestures will be a sale of its European consumer business, Bloomberg reported, citing people familiar with the matter. As Viatris looks to shed its reputation as a company focused solely on generics and reach $1 billion in eye care sales, the drugmaker has laid out a near-term goal to close three divestitures. Viatris is in advanced talks with potential buyers and plans to announce “at least one” divestiture during the third quarter, CEO Scott Smith said on the company's second quarter-earnings conference call. All three deal should be revealed this year if all goes to plan, with a “significant” one slated for the third quarter, he added. The divestitures are part of phase 1 of Viatris’ return to growth strategy. While the company says it's in a good place without the deals, the transactions “accelerate what we’re trying to do,” Chief Financial Officer Sanjeev Narula noted on the call. Even as Viatris exits some businesses, it's focused on growing elsewhere. Last fall, the drugmaker picked up ophthalmology specialists Oyster Point Pharma and Famy Life Sciences for up to $750 million. Eye care is one of Viatris’ three new areas of focus, along with gastrointestinal diseases and dermatology. Currently, there is no “global leader” in eye care, leaving space at the top for Viatris, division head and former Oyster Point CEO Jeffrey Nau said at the 2023 J.P. Morgan Healthcare Conference in January. Meanwhile, Viatris in November sold off its global biosimilars business to Biocon for $3.3 billion. Now, it's reportedly weighing a sale of its European consumer health group. Earlier this year, Viatris asked potential buyers to submit new bids and scratched erection dysfunction drug Viagra from the sale, Bloomberg reported at the time, citing people familiar with the matter. Right now, the unit is performing “as expected,” but it isn’t a big growth driver in the region, Viatris President Rajiv Malik noted on the company's recent earnings call. Viatris is sticking with its full-year revenue guidance of $15.5 billion to $16 billion after pulling in second-quarter sales of $3.9 billion. The company says phase 2 of its corporate strategy, which includes a goal of $1 billion in sales from eye care products by 2028, will kick off next year.   Alongside its second-quarter earnings, Viartis also announced the FDA’s acceptance of its Mapi Pharma-partnered treatment for relapsing forms of multiple sclerosis. The agency will decide on the drug in March.

PITTSBURGH, Jan. 3, 2023 /PRNewswire/ -- Viatris Inc. (NASDAQ: VTRS), a global healthcare company, today announced that it has closed its acquisitions of Oyster Point Pharma and Famy Life Sciences to establish a new Viatris Eye Care Division. The transaction was first announced on November 7 as part of Viatris' strategic update. Former Oyster Point Pharma CEO, Jeffrey Nau, Ph.D., MMS, will lead the new division. Viatris CEO Michael Goettler said: "We are starting the year out strong with the closings of our acquisitions of Oyster Point Pharma and Famy Life Sciences, bringing together our collective commercial expertise, scientific capabilities and global infrastructure to create the Viatris Eye Care Division, which has the potential to deliver even more access to patients and showcases the power of our Global Healthcare Gateway. Viatris has created a performance driven, highly engaging and inclusive culture and we are pleased to welcome our talented, new colleagues to our team. We look forward to continuing to execute against our announced strategic objectives in 2023 that we expect will position Viatris for future growth." Jeffrey Nau, Ph.D., MMS, the Head of the newly created Viatris Eye Care Division, said: "We are thrilled to join Viatris and combine with the assets of Famy Life Sciences to form the foundation of the Viatris Eye Care Division. With this combination we are well on our way to expand our portfolio and commercial footprint and create a global eye care leader. We believe that a new leader in the space can meaningfully shape the future of eye care to address the unmet needs of patients with ophthalmic disease and the eye care professionals who take care of them. I would like to personally thank the Oyster Point Pharma team for their hard work and commitment as we join the Viatris family and pursue Viatris' mission to empower people worldwide to live healthier at every stage of life. Under the terms of a definitive agreement, Viatris acquired Oyster Point Pharma for approximately $415 million in cash upfront, which includes the $11 per share paid to Oyster Point Pharma stockholders through a tender offer and the repayment of the principal amount of certain debt of Oyster Point Pharma. In addition, each Oyster Point Pharma stockholder received one non-tradeable contingent value right, representing up to an additional $2 per share, or approximately $60 million in the aggregate, contingent upon Oyster Point Pharma's achieving certain metrics based on full year 2022 performance, which are expected to be determined in the first quarter of 2023. The aggregate acquisition price for the Famy Life Sciences business is expected to be approximately $280 million. About Viatris Viatris Inc. (NASDAQ: VTRS) is a global 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, 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 and a variety of over-the-counter consumer products. With approximately 37,000 colleagues globally, 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. Forward-Looking Statements This press release includes statements that constitute "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 statements that the acquisitions have the potential to add at least $1 billion in sales by 2028; we are starting the year out strong with the closings of our acquisitions of Oyster Point Pharma and Famy Life Sciences, bringing together our collective commercial expertise, scientific capabilities and global infrastructure to create the Viatris Eye Care Division, which has the potential to deliver even more access to patients and showcases the power of our Global Healthcare Gateway; Viatris has created a performance driven, highly engaging and inclusive culture and we are pleased to welcome our talented, new colleagues to our team; we look forward to continuing to execute against our announced strategic objectives in 2023 that we expect will position Viatris for future growth; with this combination we are well on our way to expand our portfolio and commercial footprint and create a global eye care leader; each Oyster Point stockholder received one non-tradeable contingent value right, representing up to an additional $2 per share or $60 million contingent upon Oyster Point's achieving certain metrics based on full year 2022 performance, which are expected to be determined in the first quarter of 2023; and the expected aggregate acquisition price for the Famy Life Sciences business. Factors that could cause or contribute to such differences include, but are not limited to: our other strategic initiatives, including potential and completed divestitures and the transactions closed today may not achieve their intended benefits within the expected timeframe or at all; the implementation of our global restructuring initiatives and integration activities being more difficult, time consuming or costly than expected, or being unsuccessful; the potential impact of public health outbreaks, epidemics and pandemics, including the ongoing challenges and uncertainties posed by the COVID-19 pandemic; the Company's failure to achieve expected or targeted future financial and operating performance and results; actions and decisions of healthcare and pharmaceutical regulators; changes in healthcare and pharmaceutical laws and regulations in the U.S. and abroad; any regulatory, legal or other impediments to Viatris' ability to bring new products to market, including but not limited to "at-risk" launches; Viatris' or its partners' ability to develop, manufacture, and commercialize products; the scope, timing and outcome of any ongoing legal proceedings, and the impact of any such proceedings; any significant breach of data security or data privacy or disruptions to our information technology systems; risks associated with international operations; the ability to protect intellectual property and preserve intellectual property rights; changes in third-party relationships; the effect of any changes in Viatris' or its partners' customer and supplier relationships and customer purchasing patterns; the impacts of competition; changes in the economic and financial conditions of Viatris or its partners; uncertainties and matters beyond the control of management, including general economic conditions; and the other risks described in Viatris' filings with the Securities and Exchange Commission (SEC). Viatris routinely uses its website 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). Viatris undertakes no obligation to update these statements for revisions or changes after the date of this release other than as required by law. In particular, the statements in this release that Viatris anticipates these acquisitions have the potential to add at least $1 billion in sales by 2028 relate to Viatris' Phase II strategy in 2024-2028 and its related goals, targets, forecasts, objectives and commitments (such statements, the "Phase II Outlooks"). Viatris believes that the assumptions used as a basis for these Phase II Outlooks are reasonable based on the information available to management at this time. However, this information is not fact, and you are cautioned not to place undue reliance on any such information. While certain of these statements might use language that imply a level of certainty about the likelihood that Viatris will attain these Phase II Outlooks, it is possible that Viatris will not attain them in the timeframe noted or at all. These Phase II Outlooks reflect assumptions as to certain business decisions that are subject to change. Important factors that may affect actual results and cause these Phase II Outlooks not to be achieved, or that may change the underlying variables and assumptions on which these Phase II Outlooks were based and cause these Phase II Outlooks to differ materially, include, but are not limited to, risks and uncertainties relating to our planned acquisitions and divestitures, including whether such transactions are completed on the expected timelines or at all, failure to achieve the anticipated benefits of any acquisitions or divestitures, failure to receive the anticipated cash proceeds of any divestitures, inability to manage base business erosion, failure to bring new products to market on the expected timeframes or at all, failure to execute stock repurchases consistent with current expectations, stock price volatility, higher than anticipated SG&A, gross margins and R&D spend, industry performance, interest rate volatility, foreign exchange rates, tax rates, the regulatory environment and general business and economic conditions, as well as those set forth in the first paragraph of "Forward Looking Statements". In addition, although certain of the outlooks are presented with numerical specificity, they are still forward-looking statements that involve inherent risks and uncertainties. Further, these Phase II Outlooks cover multiple years and such information by its nature becomes less reliable with each successive year. Accordingly, there can be no assurance that any aspect of these Phase II Outlooks will be realized or that actual results will not differ materially. Therefore, you should construe these statements regarding these Phase II Outlooks only as goals, targets and objectives rather than promises of future performance or absolute statements. SOURCE Viatris Inc.