VTRS ALERT: The Law Offices of Vincent Wong Investigate Viatris Inc. for Potential Violations of Securities Laws
NEW YORK, May 8, 2023 /PRNewswire/ -- Attention Viatris Inc. ("Viatris" or the "Company") (NasdaqGS: VTRS) shareholders:
The Law Offices of Vincent Wong announce that an investigation has commenced into Viatris and certain of its officers and directors regarding potential securities fraud. The investigation concerns, in part, the below:
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.
If you suffered a loss on your investment in Viatris, contact us about a possible lawsuit and potential recovery by using the link below. There is no cost or obligation to you.
https://www.wongesq.com/pslra-1/viatris-inc-class-action-submission-form-2?wire=4
Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
E-Mail: [email protected]
SOURCE The Law Offices of Vincent Wong
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