Viatris Inc. (VTRS): Business Model Canvas [Dec-2025 Updated]

You're trying to map the current strategy of Viatris Inc., and after two decades analyzing pharma, I can tell you their model is a tightrope walk between high-volume, affordable generics and targeted innovation, all while managing a huge global machine. Honestly, the core engine is built on reaching about 1 billion patients across 165 countries, aiming for a 2025 revenue between $13.9 billion and $14.3 billion, which includes a significant push from new products expected to bring in $450 million to $550 million. To see exactly how they connect their manufacturing scale, pipeline assets like selatogrel, and that recent $815 million cash infusion from the Biocon deal into a cohesive business, dive into the full nine-block breakdown below.

Viatris Inc. (VTRS) - Canvas Business Model: Key Partnerships

You're looking at how Viatris Inc. builds value through its external relationships, which is key for a company with such a broad portfolio spanning generics, established brands, and innovative assets. These partnerships are defintely how Viatris extends its reach and fills out its pipeline, so let's look at the hard numbers we have for late 2025.

For licensing and co-development deals focused on innovative pipeline assets, Viatris is actively pursuing opportunities that can contribute quickly. The company reaffirmed its 2025 outlook on May 8, 2025, expecting to deliver between $450 million and $550 million in new product revenues for the full 2025 fiscal year. This pipeline advancement includes milestones for assets like Selatogrel, Cenerimod, and Sotagliflozin. An example of a specific licensing deal is the one announced in October 2024 with Lexicon Pharmaceuticals for Sotagliflozin in all markets outside of the U.S. and Europe.

When it comes to strategic partnerships for regional commercialization and market access, Viatris leverages its global infrastructure. The company continues to expect pursuing regional licensing and partnership opportunities that offer immediate revenue contribution. A recent move to bolster its portfolio and regional presence was the completion of the acquisition of Aculys Pharma on October 15, 2025, which included exclusive rights to Pitolisant in Japan and to Spydia® in Japan and certain other Asia-Pacific markets. Viatris already supplies high-quality medicines to approximately 1 billion patients around the world annually.

The monetization of the Biocon Biologics equity stake is a major financial event for Viatris's partnership strategy. On December 6, 2025, Viatris announced definitive agreements with Biocon Limited to sell its convertible preferred equity stake in Biocon Biologics Limited. This transaction is for a total consideration of $815 million, which is split between cash and equity. This move is designed to provide Viatris with optionality as it focuses on its generics, established brands, and innovative brands portfolio. The transaction is expected to close in the first quarter of 2026.

Transaction Component	Amount	Form
Total Consideration for Equity Stake Sale	$815 million	Cash and Equity
Cash Portion	$400 million	Cash
Equity Share Portion	$415 million	Newly Issued Biocon Limited Equity Shares
Original 2022 Upfront Cash Payment (Predecessor Transaction)	$2.0 billion	Cash
Original 2022 Equity Value (Predecessor Transaction)	$1.0 billion	Convertible Preferred Equity

Regarding Contract Manufacturing Organizations (CMOs) for specialized production, Viatris relies on a network to support its broad portfolio, though specific 2025 financial commitments to individual CMOs aren't publicly detailed in recent releases. The company's infrastructure review, which began in early 2025, aims to identify additional cost savings across its global operations. Viatris's portfolio includes more than 1,400 approved molecules across various dosage forms and delivery systems.

A significant recent collaboration for pipeline development is in precision bacteriophage therapies in ophthalmology. Viatris and Locus Biosciences, Inc. announced a research collaboration on November 4, 2025, to develop precision antibacterial therapeutics for serious eye infections. This work uses Locus's LOCUS platform, which integrates AI, automation, and synthetic biology to create phage cocktails that selectively remove pathogenic bacteria. This is crucial given the rise in antibiotic-resistant infections, with the WHO noting that one in six bacterial infections globally is resistant to standard antibiotics as of late 2025.

Viatris maintains several other key collaborations to address global health needs:

• Collaboration with Otsuka and TB Alliance to boost access to antimicrobials for MDR/XDR tuberculosis in high-burden countries.
• Partnerships with UNAIDS and the U.S. President's Emergency Plan for AIDS Relief (PEPFAR) to ensure low-cost availability of next-generation HIV treatment.
• Working with medical associations, patient advocacy groups, and academia to strengthen healthcare delivery and quality.

Finance: draft 13-week cash view by Friday.

Viatris Inc. (VTRS) - Canvas Business Model: Key Activities

You're looking at the core actions Viatris Inc. is taking to run its business as of late 2025. It's a mix of managing a massive global footprint while simultaneously fixing operational hiccups and pushing innovative drugs forward. Honestly, it's a lot to juggle.

Global manufacturing and supply chain management for high-volume generics

Viatris Inc. relies on its extensive network to keep medicines flowing. This activity centers on maintaining a resilient supply chain to serve a huge patient base. The company's operational scale is quite clear when you look at the numbers.

• Serve patients in over 165+ Countries & Territories.
• Operate 26 Manufacturing & Packaging Facilities globally.
• Maintain an annual dose capacity exceeding 80BN+ doses.
• Achieved 93% Customer service delivery in full and on-time capacity.
• Reach approximately 1B Patients Annually Using Viatris Medicines.

This global reach, with centers in Pittsburgh, Shanghai, and Hyderabad, India, is a key part of its value proposition for access. It's about making sure the generics and brands get where they need to be.

Advancing late-stage pipeline assets like selatogrel and cenerimod

A major activity is pushing its innovative pipeline through late-stage development. You've got to keep the future growth drivers moving, and for Viatris Inc., that means hitting specific clinical milestones for its novel assets.

Here are the key pipeline activities reported through late 2025:

Asset	Key 2025 Milestone/Status	Anticipated Next Step
Selatogrel	Enrollment on track as of Q2 2025	Hit key late-stage milestones in 2025
Cenerimod	Enrollment on track as of Q2 2025	Hit key late-stage milestones in 2025
Low-Dose Estrogen Weekly Patch	NDA Submission to U.S. FDA in H2 2025	Anticipated U.S. FDA approval mid-2026

The company was looking for six Phase 3 trials to read out in 2025, showing a clear focus on generating data to support future launches.

Commercial execution across four global segments (e.g., Greater China growth)

Executing commercially means driving sales across its defined segments. The company's performance in Q3 2025 showed revenues of $3.8 billion. While the overall generics net sales were hit by the Indore situation, Brands net sales showed definite strength.

Commercial success is being driven by specific regional performance:

• Strong growth reported in Greater China.
• Continued strength in Emerging Markets for Brands net sales.
• New product revenues contributed approximately $100 million in Q3 2025.

Excluding the negative effect from the Indore facility, divestiture-adjusted operational total revenues actually grew 1% in Q3 2025 compared to the prior year. That base business is definitely showing some resilience.

Enterprise-wide strategic review to streamline global infrastructure

Viatris Inc. started a major internal project to right-size its operations for the future. This enterprise-wide strategic review is about simplifying the cost structure and making sure resources are allocated better for competitive positioning in 2026 and beyond. The goal is to find meaningful net cost savings over a multi-year period, with a portion to be reinvested into growth opportunities.

Remediation and reinspection efforts for key facilities, like Indore

This is a critical, immediate activity stemming from the FDA warning letter and import alert issued in December 2024 for the oral finished dose manufacturing facility in Indore, India. The impact was significant, with an estimated $400 million revenue hit for the nine months ended September 30, 2025. The initial 2025 guidance estimated a total revenue impact of approximately $500 million from this site. The company is building redundancies by requalifying other sites and adding third-party suppliers for affected products. As of Q2 2025, remediation efforts were nearly complete, and Viatris Inc. expected to meet with the U.S. FDA to discuss reinspection timing by the end of 2025. However, management noted in May 2025 that the facility might be inoperable through at least Q2 of 2026.

Viatris Inc. (VTRS) - Canvas Business Model: Key Resources

You're looking at the core assets Viatris Inc. relies on to execute its strategy, which is heavily focused on balancing its established brand base with pipeline innovation and global scale. These aren't just things they own; these are the engines that drive their access mission.

The foundation is an extensive portfolio of established brands and generic medicines. As of late 2025, the company's portfolio structure shows that approximately 59% is comprised of established brands, while 40% is generics, leaving 1% for patent-protected innovative brands. Viatris has over 1,400 approved therapeutic molecules in its portfolio. To be precise about scale, they currently commercialize these 1,400 approved molecules across 4,400 different Stock Keeping Units (SKUs).

This portfolio is supported by a massive global supply chain network. Viatris reached approximately 1 billion patients annually with high-quality medicines in 2024. That network spans more than 165 countries and territories, where they sold over 80 billion doses of medicine in 2024. This reach covers more than 90% of low- and middle-income countries (LMICs).

The future growth component is anchored in the late-stage innovative pipeline. For 2025, Viatris was targeting key late-stage milestones for assets including sotagliflozin, selatogrel, and cenerimod. Hitting these milestones is crucial, as the company expected to see six Phase 3 trials read out during 2025. On the financial side, Viatris continued to expect approximately $450 million to $550 million in new product revenues for the full year 2025. The company already secured an important step by receiving the first global approval for sotagliflozin in the UAE.

The physical backbone is the manufacturing infrastructure. Viatris operates approximately 40 manufacturing sites globally, spread across 6 continents. This includes 26 manufacturing and packaging facilities in total. Specifically in Europe, the company runs 11 manufacturing plants. This network supports an annual dose capacity exceeding 80 billion doses. You know they are focused on remediation because of the FDA import alert related to their oral finished dose facility in Indore, India, which was estimated to have a negative impact of approximately $160 million on Q2 2025 total revenues.

Finally, the intangible asset of intellectual property (IP) and regulatory filings underpins everything. This resource is what allows them to market their diverse product mix globally. Here's a quick look at the operational scale tied to these assets:

Metric	Value/Count	Source Context
Global Operating Countries	165	Geographic reach
Total Approved Molecules	1,400+	Portfolio breadth
SKUs Commercialized	4,400	Product variations
Global Manufacturing Sites	Approx. 40	Physical infrastructure
European Manufacturing Plants	11	Specific regional footprint
Annual Dose Capacity	80BN+	Manufacturing throughput

The company's ability to manage its regulatory filings is key, especially given the ongoing remediation efforts at the Indore site.

You should track the progress of the pipeline assets, as they represent the shift away from the legacy portfolio mix. Here are the key components of that resource base:

• Pipeline Focus: Advancing late-stage assets like sotagliflozin.
• Clinical Milestones: Expecting six Phase 3 trial readouts in 2025.
• New Product Revenue Expectation: Targeted between $450 million and $550 million for 2025.
• Global Footprint: Commercial infrastructure in over 165 countries.
• Workforce Expertise: Approximately 32,000 colleagues globally.

Finance: draft 13-week cash view by Friday.

Viatris Inc. (VTRS) - Canvas Business Model: Value Propositions

Access to high-quality, affordable medicines at scale globally is a core proposition for Viatris Inc. The company states it supplies high-quality medicines to approximately 1 billion patients around the world annually.

The global footprint supports this scale, with Viatris Inc. serving patients in more than 165+ Countries & Territories. The operational structure includes global centers in Pittsburgh, Shanghai, and Hyderabad, India, supporting this reach. The manufacturing and packaging network comprises 26 facilities globally, with an annual dose capacity exceeding 80BN+ units.

The value proposition rests on a diversified portfolio mitigating risk across generics and established brands. For instance, in the second quarter of 2025, the company reported an Adjusted Gross Margin of 56.6%, reflecting the mix of its offerings. Total revenues for that quarter were $3.58 billion, with divestiture-adjusted operational revenue growth of approximately 3% year-over-year when excluding the negative impact from the Indore facility.

Reliability of supply is underpinned by this global network. While the company faced a significant regulatory hurdle at its Indore facility, which management estimated would negatively impact 2025 total revenues by approximately $500 million, the company still reported a 93% Customer service delivery in full and on-time capacity in historical data, highlighting the intended reliability of the broader system. [The company is focused on remediation efforts at the Indore facility as of late 2025.]

New product introductions are a key driver for future value, with Viatris Inc. expecting these to generate $450 million to $550 million in 2025. This target follows 2024 new product revenues of $582 million. The company is also focused on bridging the divide between generics and innovative, patent-protected assets, evidenced by pipeline progress including six Phase 3 data readouts anticipated in 2025 for assets like selatogrel, cenerimod, and sotagliflozin.

Here's a look at the scale supporting the global access value proposition:

Metric	Value
Patients Served Annually	Approximately 1 billion
Countries & Territories Served	165+
Manufacturing & Packaging Facilities	26
Annual Dose Capacity	80BN+
2025 New Product Revenue Target (Midpoint)	$500 million

The company's financial strength, which allowed for a $3.7 billion debt reduction in 2024, underpins the ability to commit to shareholder returns, with a 2025 plan targeting $500 million to $650 million in share repurchases.

The portfolio segments contributing to this value include:

• Brands net sales showing strength in Greater China and Emerging Markets.
• Generics net sales supported by complex products in North America.
• Continued solid performance across the broader European portfolio.

Finance: review the impact of the raised 2025 revenue guidance midpoint of $14,100 million against the prior full-year 2024 revenue of $14.7 billion.

Viatris Inc. (VTRS) - Canvas Business Model: Customer Relationships

You're looking at how Viatris Inc. manages its connections with the diverse groups it serves-from doctors writing prescriptions to governments buying bulk supplies. Honestly, in pharma, relationships are about access and reliability, especially when you're dealing with both established generics and a growing specialty pipeline.

Dedicated sales forces engaging physicians and pharmacists globally

Viatris Inc. structures its commercial engagement to support its dual focus on generics and established brands across its global footprint. While the exact size of the dedicated sales force isn't publicly itemized for late 2025, the company's strategy involves leveraging its commercial infrastructure to drive adoption for its expanding portfolio, including late-stage assets.

The focus areas for commercial execution in 2025 include:

• Driving strong commercial execution across markets.
• Focusing on therapeutic areas with unmet needs.
• Anticipating new product revenues between $450 million and $550 million for the full year 2025.

Patient support and education programs for complex therapies

Viatris Inc. maintains several programs aimed at ensuring patients can access and properly use their medications, particularly for complex or chronic conditions. This support builds a crucial bridge between the product and the patient experience.

Concrete examples of this commitment include:

• Sponsoring the Congressional Women's Softball Game, which, as of 2025, has raised over $4.5 million for the Young Survival Coalition, supporting young adults with breast cancer.
• Supporting educational programs for cystic fibrosis families regarding family building processes.
• Continuing support for the National MS Society's MS Navigators® Program, which in 2022 supported over 46,500 individuals directly with services like insurance and social support.

The Viatris Patient Assistance Program offers certain medicines for free to patients demonstrating financial need, covering medications like Arixtra®, Breyna®, and Wixela® across Group 1 and Group 2 classifications.

Key account management for large government purchasers and NGOs

Viatris Inc. manages relationships with large-scale purchasers, including public and governmental agencies, alongside its work with retail chains and wholesalers. This segment requires navigating complex procurement policies, which sometimes include social and environmental requirements.

The company's participation in initiatives like Europe's Critical Medicines Alliance, launched in April 2024, directly addresses the need for stable access to essential medicines for large purchasers and public health systems.

High-touch, expert support for innovative and specialty products

As Viatris Inc. advances its pipeline, the need for high-touch support for innovative and specialty products increases. The company is positioning itself for future growth by advancing assets like selatogrel, cenerimod, and sotagliflozin, expecting six Phase 3 data readouts in 2025.

This focus on innovation requires commercial capabilities aligned with specialty care, which is a key part of the strategy to accelerate growth. The company is also pursuing targeted, accretive business development opportunities that leverage its existing commercial infrastructure.

Maintaining supply chain reliability to build defintely customer trust

Supply chain reliability is a direct driver of customer trust, especially when operational challenges arise. Viatris Inc. is actively managing the impact of the FDA warning letter related to its oral finished dose manufacturing facility in Indore, India, which is a significant factor affecting customer confidence and near-term financials.

Here is a look at the financial context impacting supply chain trust in 2025:

Metric	2025 Projection/Impact	Source Context
Estimated Negative Impact on Total Revenues (FY 2025)	Approximately $500 million	Due to the Indore facility issue.
Estimated Negative Impact on Adjusted EBITDA (FY 2025)	Approximately $385 million	Due to the Indore facility issue.
Estimated Indore Impact on Q3 2025 Total Revenues	Approximately $100 million	Reported for the three months ended September 30, 2025.
Projected Full Year 2025 Total Revenues	Between $13.5 billion and $14.0 billion	Overall financial guidance.
Projected Full Year 2025 U.S. GAAP Net Cash from Operations (Midpoint)	Approximately $2.325 billion	Updated guidance as of November 6, 2025.

Viatris Inc. is working closely with its customers to mitigate potential supply disruptions and expects remediation efforts at the Indore facility to be completed soon, with an anticipated request for FDA reinspection. The company is focused on operational resilience to ensure it meets the needs of patients and customers.

Finance: draft 13-week cash view by Friday.

Viatris Inc. (VTRS) - Canvas Business Model: Channels

You're looking at how Viatris Inc. gets its products-from established brands to generics-into the hands of patients and healthcare providers globally. This is all about the physical and contractual pathways they use, which are heavily segmented by geography. The company's commercial infrastructure is designed to support patients in more than 165 countries and territories.

The primary channel strategy is built around its four core commercial segments, which dictate the go-to-market approach. For instance, the Developed Markets channel relies heavily on direct sales to wholesalers, distributors, and pharmacies, which is the typical route for established pharmaceutical products in mature economies like the United States, Canada, and Europe.

To give you a concrete idea of where the revenue flows through these channels, here's a look at the geographic revenue distribution based on recent reporting periods, which shows the weight of the Developed Markets channel:

Commercial Segment	Revenue Amount (Approximate)	Percentage of Total Revenue (Contextual)
Developed Markets	$8.96B	60.8%
Emerging Markets	$2.26B	15.3%
Greater China	$2.17B	14.7%
Japan, Australia and New Zealand (JANZ)	$1.35B	9.2%

In contrast, the channel strategy in Emerging Markets often leans more heavily on government tenders and institutional sales, especially given that this segment includes over 125 developing countries. This approach is crucial for volume and access in regions with different procurement structures. The company expects to deliver between $450 million and $550 million in new product revenues in 2025, which will flow through these established channels, building on the $582 million in new product revenues generated in 2024.

The structure of these channels supports the different product categories Viatris Inc. moves. For example, Brands net sales show strength in Greater China and Emerging Markets, suggesting successful localized distribution and market access efforts there. Generics net sales, meanwhile, reflect strong growth from new product performance in Developed Markets, indicating the established wholesaler/pharmacy channel is effectively absorbing new generic launches.

The company also employs direct-to-consumer marketing and digital engagement for select brands, though the primary focus remains on business-to-business distribution. The overall channel effectiveness is supported by a global infrastructure. Here are the key components defining the commercial reach:

• Developed Markets: Includes the United States, Canada, and Europe.
• Greater China: Covers Mainland China, Hong Kong, and Taiwan.
• JANZ: Japan, Australia, and New Zealand.
• Emerging Markets: Encompasses over 125 developing countries.
• Global Footprint: Supports patient access in more than 165 Countries & Territories.

The total revenue for the twelve months ending September 30, 2025, was $14.124B, illustrating the scale these channels manage. The success of the channel strategy is defintely tied to navigating the regulatory and logistical differences across these diverse markets.

Viatris Inc. (VTRS) - Canvas Business Model: Customer Segments

You're looking at the core groups Viatris Inc. sells its medicines to as of late 2025. This isn't just about who buys the pill; it's about the entire healthcare ecosystem that needs cost-effective, accessible treatments.

Viatris Inc. serves a massive global base, reaching approximately 1 billion patients annually with its diverse portfolio of branded, generic, and biosimilar products. The company's strategy clearly segments its approach based on the buyer's primary need-be it price, access, or formulary inclusion.

Here's a look at the key customer segments Viatris Inc. targets:

• Governments and Non-Governmental Organizations (NGOs) for essential medicines
• Wholesalers, distributors, and large pharmacy chains globally
• Patients with chronic conditions requiring long-term, affordable treatment
• Healthcare providers (HCPs) prescribing a broad range of generics and brands
• Health systems and payers seeking cost-effective pharmaceutical solutions

For the health systems and payers, the focus is definitely on cost-effectiveness and getting products onto their approved lists (formulary inclusion). For patients, trust in the medication and affordability, especially for ongoing chronic care, drives the purchase. It's a delicate balance, and Viatris Inc. is positioning its pipeline to support this dual need.

The company's geographic focus also dictates customer interaction. While Developed Markets drive generics growth, Emerging Markets and Greater China show robust expansion for established brands. To be fair, the operational disruption at the Indore facility in early 2025, which was estimated to reduce total revenues by approximately $500 million for the full year, highlights the importance of supply chain reliability across all these segments.

Here are some key figures related to Viatris Inc.'s scale and financial commitments to its stakeholders, which indirectly reflect the scale of its customer base:

Metric	2025 Data Point	Context
Full Year 2025 Revenue Guidance Midpoint	$13.75 billion	Total Revenues expected between $13.5 billion and $14.0 billion.
Q3 2025 Total Revenues	$3.8 billion	Reported total revenues for the third quarter of 2025.
Projected 2025 New Product Revenues	$450 million to $550 million	Revenue expected from new product launches in 2025.
YTD Capital Returned to Shareholders (as of Q3 2025)	More than $920 million	Includes dividends and share repurchases year-to-date.
Planned 2025 Share Repurchases	$500 million to $650 million	Allocation for capital return priority in 2025.
US Revenue Sourcing	More than half	Percentage of US revenue sourced domestically.

For the segment of Healthcare Providers (HCPs), Viatris Inc. is advancing its pipeline, expecting six Phase 3 data readouts in 2025 for assets including selatogrel, cenerimod, and sotagliflozin, which speaks directly to the future prescriptions HCPs will write. Also, the company continues to advocate strongly for thoughtful policymaking that protects access to generics, which account for 90% of prescriptions filled in the United States.

The segment dealing with wholesalers and distributors values supply chain reliability above all else. Viatris Inc. operates in approximately 165 countries, so managing this global distribution network is a key operational function supporting this customer group. They are defintely focused on execution.

Finance: draft 13-week cash view by Friday.

Viatris Inc. (VTRS) - Canvas Business Model: Cost Structure

When you look at Viatris Inc.'s cost structure, you're looking at the realities of running a massive, global, post-merger pharmaceutical company. The costs are inherently high because of the scale and the complexity of the products they manage.

High Cost of Goods Sold (COGS) due to global manufacturing and raw materials

While the exact Cost of Goods Sold (COGS) figure for 2025 isn't explicitly broken out in the guidance summaries, the scale of Viatris Inc.'s operations implies a substantial COGS component, which directly impacts the gross margin. The company's global supply chain, designed to reach about 1 billion patients annually, involves sourcing raw materials and manufacturing across numerous sites, which naturally carries significant variable costs. The focus on improving commercial execution and managing the global infrastructure review suggests an ongoing effort to optimize these production costs.

• Full Year 2024 Adjusted EBITDA was reported at $4.7 billion.
• The midpoint of the 2025 total revenues guidance was set at $13.75 billion.
• For the first six months of 2025, the estimated negative impact from the Indore facility on total revenues was $300 million.

Significant investment in Research and Development (R&D) for pipeline advancement

Viatris Inc. has to spend to keep its portfolio fresh, even though it is heavily focused on generics and established brands. The R&D spend is directed toward advancing the pipeline, which is a necessary, ongoing cost. Management is clearly prioritizing late-stage assets, which often require significant clinical trial expenditure.

• The company expects six Phase 3 trials to read out in 2025.
• The 2025 new product revenue target is set between $450 million and $550 million, which is a direct result of prior R&D investment.
• Adjusted R&D as a percentage of total revenues is a key non-GAAP metric tracked for comparability, reflecting the ongoing investment level.

Selling, General, and Administrative (SG&A) expenses for the global commercial footprint

SG&A covers the cost of selling and marketing the vast portfolio across different geographies, plus the overhead of running the corporate structure. You can see the scale of this cost base by looking at the trailing twelve months (TTM) data. This is a fixed-to-semi-variable cost that the company is actively trying to manage through its global infrastructure review.

Period	SG&A Expense Amount
Full Year 2024	$4.426 billion
TTM ending June 30, 2025	$4.248 billion

The TTM figure shows a decline, which is a positive sign for cost control efforts.

Costs associated with facility remediation and regulatory compliance (e.g., Indore)

This is a major, non-recurring, but significant, cost head for Viatris Inc. in 2025. The FDA warning letter and import alert at the oral solid dose manufacturing facility in Indore, India, created direct financial hits and remediation expenses. As of late 2025, the initial corrective work is reported as 'substantially complete,' but the financial bleed has been real.

• Estimated negative impact on 2025 Adjusted EBITDA is $385 million.
• The revenue impact in the first quarter of 2025 alone was approximately $140 million.
• The company is preparing for an expected FDA re-inspection sometime in 2026.

Interest expense on substantial debt load

Servicing the debt remains a key cost. While the company made significant progress in paying down debt in 2024, the remaining balance still generates material interest expense. Adjusted interest expense is tracked, but the absolute dollar amount for 2025 is not provided in the guidance documents, so we look at the debt reduction as the primary context for this cost.

• Viatris Inc. paid down $3.7 billion in debt during the full year 2024.
• The long-term gross leverage target was hit by the end of 2024, ending at 2.9 times leverage.
• The company is prioritizing capital return in 2025, planning share repurchases of $500 million to $650 million, which is a shift in capital allocation away from further debt reduction.

Finance: draft 13-week cash view by Friday.

Viatris Inc. (VTRS) - Canvas Business Model: Revenue Streams

You're looking at the core ways Viatris Inc. brings in money as of late 2025. It's a mix of legacy, off-patent brands and the high-volume generics business.

Revenue Stream Component	Financial Data Point (2025 Projection unless noted)
Net sales from Established Brands (e.g., Lipitor, Viagra)	2024 Total Revenue: $14.7 billion
Net sales from Generics and Complex Generics	2024 Total Revenue: $14.7 billion
Total Revenue projected to be between $13.9 billion and $14.3 billion for 2025	$13.9 billion and $14.3 billion
Revenue from new product launches and regional licensing deals	New Product Revenues: $450 million to $550 million

The company is definitely prioritizing shareholder returns alongside navigating near-term operational headwinds, like the estimated negative impact from the Indore facility issues on 2025 revenues.

• Quarterly dividend payments to shareholders of $0.12 per share
• Annual 2025 dividend policy approved at $0.48 per share
• Capital return plan includes $500 million to $650 million in share repurchases for 2025

The expectation for new product revenues in 2025 is between $450 million and $550 million. That's a key driver as the legacy brands continue to face patent expirations and market competition.