A big question around the formation of Viatris Inc. last year out of the merger of Mylan Pharmaceuticals Inc. and Pfizer Inc.'s Upjohn has been how a company made up largely of low-growth generics, established products and biosimilars would attract investors. It appears that question only got harder to answer after Viatris announced 2021 financial guidance, the company's first formal guidance since the merger closed.
The company announced 2021 financial guidance on 22 February, including revenues of $17.2bn-$17.8bn, well below the expectation when the merger was announced in 2019. The guidance also calls for a net loss of $100m-$300m on a GAAP basis, adjusted earnings before interest, tax, depreciation and amortization of $6.0bn-$6.4bn, and free cash flow of $2.0bn-$2
