Stock Track | Viatris Stock Soars 15% as Q3 Results Beat Estimates on Strong New Drug Sales

Stock Track11-08

Shares of Viatris Inc. (VTRS) soared 15.68% on November 7, 2024, after the generic drugmaker reported better-than-expected third-quarter results, fueled by robust demand for its newly launched generic drugs.

For the quarter ended September 30, 2024, Viatris posted adjusted earnings of $0.75 per share, surpassing analysts' average estimate of $0.68 per share. Revenue came in at $3.74 billion, slightly ahead of the consensus forecast of $3.71 billion.

The company's impressive performance was driven by strong sales of its recently introduced generic versions of popular drugs like AstraZeneca's asthma inhaler Symbicort and Takeda's ADHD medication Vyvanse. Revenue from new product launches totaled $133 million in the third quarter, contributing significantly to the overall revenue beat.

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