Aug 8 (Reuters) – Drugmaker Viatris beat second-quarter profit and revenue estimates on Thursday, driven by strong demand for the Viagra-maker’s off-patent branded and generic drugs.<\/p>\n
Shares of the company were up 3.6% in premarket trade.<\/u><\/strong><\/p>\n The Canonsburg, Pennsylvania-based company also raised the 2024 sales outlook for its new product range, including Breyna – a biosimilar to Astrazeneca’s asthma drug Symbicort – to between $500 million and $600 million, up from its previous range of $450 million to $550 million.<\/p>\n Viatris, formed by the merger of Mylan and Pfizer’s Upjohn business, boasts a portfolio<\/a> of well-known generic branded drugs, such as erectile dysfunction drug Viagra, anti-anxiety medication Xanax, epilepsy treatment Lyrica, and arthritis treatment Celebrex.<\/p>\n Last year, \ube44\uc544\uadf8\ub77c 100mg<\/a> Viatris said it will<\/u><\/i><\/p>\n divest<\/p>\n from its over-the-counter (OTC) drugs, active pharmaceutical ingredients and women’s health businesses as it wanted streamline focus on three core therapeutic areas – ophthalmology, gastroenterology and dermatology.<\/p>\n However, the company has retained the rights to Viagra, nasal spray Dymista, and \ube44\uc544\uadf8\ub77c 100mg<\/a> select OTC products in certain markets.<\/p>\n Due to the OTC divestiture, it now expects 2024 revenue of $14.6 billion to $15.1 billion versus its previous forecast of $14.98 billion to $15.48 billion.<\/p>\n The company also lowered its annual profit forecast to the range of $2.58 to $2.73 per share, down 7 cents at mid-point.<\/p>\n Viatris’ second-quarter revenue of $3.80 billion beat Wall Street estimates of $3.78 billion. Revenue from both its branded and generic drug units, excluding sales from divested businesses, increased by 2%.<\/p>\n On an adjusted basis, \ube44\uc544\uadf8\ub77c 100mg<\/a> the company posted a profit of 69 cents per share, narrowly beating estimates of 68 cents per share. (Reporting<\/a> by Puyaan Singh in Bengaluru; Editing by Tasim Zahid)<\/p>","protected":false},"excerpt":{"rendered":" Aug 8 (Reuters) – Drugmaker Viatris beat second-quarter profit and revenue estimates on Thursday, driven by strong demand for the Viagra-maker’s off-patent branded and generic drugs. Shares of the company were up 3.6% in premarket trade. The Canonsburg, Pennsylvania-based company also raised the 2024 sales outlook for its new product range, including Breyna – a […]<\/p>","protected":false},"author":69059,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[239],"tags":[],"class_list":["post-66057","post","type-post","status-publish","format-standard","hentry","category-health-fitness-alternative-medicine"],"aioseo_notices":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/tuttopavimenti.com\/es\/wp-json\/wp\/v2\/posts\/66057","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tuttopavimenti.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tuttopavimenti.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tuttopavimenti.com\/es\/wp-json\/wp\/v2\/users\/69059"}],"replies":[{"embeddable":true,"href":"https:\/\/tuttopavimenti.com\/es\/wp-json\/wp\/v2\/comments?post=66057"}],"version-history":[{"count":0,"href":"https:\/\/tuttopavimenti.com\/es\/wp-json\/wp\/v2\/posts\/66057\/revisions"}],"wp:attachment":[{"href":"https:\/\/tuttopavimenti.com\/es\/wp-json\/wp\/v2\/media?parent=66057"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tuttopavimenti.com\/es\/wp-json\/wp\/v2\/categories?post=66057"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tuttopavimenti.com\/es\/wp-json\/wp\/v2\/tags?post=66057"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}