BUZZ-Viatris falls as US FDA declines to approve injection for multiple sclerosis

Reuters03-11

** Shares of drugmaker Viatris fall 2.2% to $12

** The U.S FDA declined to approve VTRS and partner Mapi Pharma's injection for treating multiple sclerosis $(MS)$

** The companies are reviewing the contents of the health regulator's complete response letter and will soon determine the appropriate next steps, they said

** VTRS and Mapi were seeking the FDA's nod for GA Depot, a long-acting version of glatiramer acetate

** Glatiramer acetate is approved under the brand name Copaxone, manufactured by Teva Pharmaceutical Industries

** MS is a disease where the immune system attacks brain cells, causing motor disabilities

** The receipt of the FDA's letter will not impact VTRS's 2024 forecast or its new product revenue range of $450 million to $550 million - VTRS

** Including session moves, stock has risen 19.5% in the last 12 months

(Reporting by Sneha S K in Bengaluru)

((Sneha.SK@thomsonreuters.com;))

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