VTRS NEWS: The Klein Law Firm Initiates an Investigation Involving Possible Securities Fraud Violations by Officers of Viatris Inc.

NEW YORK, May 16, 2023 /PRNewswire/ -- The Klein Law Firm announces that it is investigating allegations that Viatris Inc. ("Viatris" or the "Company") (NasdaqGS: VTRS) violated federal securities laws.

CURRENT INVESTIGATION DETAILS: 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.

HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the potential claims on behalf of  VTRS investors, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: https://www.kleinstocklaw.com/pslra-1/viatris-inc-lawsuit-loss-submission-form?from=4 

ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
J. Klein, Esq.
535 Fifth Avenue
4th Floor
New York City, NY 10017
[email protected]
Telephone: (212) 616-4899
www.kleinstocklaw.com

SOURCE The Klein Law Firm

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED