Viatris: Strong Financial Results, 2023 Guidance

 

• Company Meets its 2022 Adjusted Guidance After Incorporating the Fourth Quarter Impact of the Biosimilars Transaction and Acquired IPR&D

• 2023 Guidance Midpoint Reflects Revenue Growth Over 2022, Excluding Full-Year Impact of Biosimilars

• Reaffirms 2024 Phase 2 Outlook from November 7 Strategic Update

• Company Increases Return of Capital to Shareholders by Completing $250 Million in Share Repurchases

• Board of Directors Approves 2023 Dividend Policy of Forty-Eight Cents ($0.48) per Share and Declares First Quarter Dividend of Twelve Cents ($0.12) per Share

• Paid Down Debt of Approximately $3.3 Billion in 2022, Retiring $5.4 Billion of Debt Since 2021

• Remains on Track to Execute Planned Divestitures

Financial Impact of Completion of the Biosimilars Transaction and Acquired IPR&D

The 2022 financial guidance metrics were impacted by the Biosimilars Transaction and acquired IPR&D as follows:

(In millions)		2022 Guidance Ranges(1) (November 7, 2022)		Biosimilars Transaction		Acquired IPR&D		Adjusted 2022 Guidance Ranges(1)		2022 Results
Total Revenues		$16,200 - $16,700		$(86)		$—		$16,100 - $16,600		$16,263
Adjusted EBITDA		$5,800 - $6,200		$(31)		$(36)		$5,725 - $6,125		$5,777(2)
Free Cash Flow		$2,500 - $2,900		$(274)		$(36)		$2,200 - $2,600		$2,547(2)

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(1) Viatris did not provide forward-looking guidance for comparable U.S. GAAP net earnings (loss) or a quantitative reconciliation of its 2022 adjusted EBITDA guidance. U.S. GAAP net cash provided by operating activities was estimated to be between $3,100 million and $3,300 million (without adjustment for the Biosimilars Transaction). Please see "Non-GAAP Financial Measures" for additional information. https://finance.yahoo.com/news/viatris-reports-strong-fourth-quarter-110000906.html