VTRS FRAUD ALERT: Jakubowitz Law is Investigating Viatris Inc. in Connection with Potential Violations of Federal Securities Laws

NEW YORK, May 5, 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

SOURCE Jakubowitz Law

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