Viatris Posts $3.75B Q3 Revenue, Raises 2026 Guidance Midpoints

Pittsburgh-based drugmaker Viatris Inc. said Thursday its third-quarter revenue held at $3.75 billion while adjusted earnings rose, and it again lifted the midpoints of its 2026 financial targets, according to the company’s release carried on its newsroom and Nasdaq.

Total revenues were essentially flat versus $3.76 billion a year earlier. U.S. GAAP net loss widened to $325 million, or $0.28 per share, from a $128 million loss, or $0.11 per share, a year ago. The company said the deeper GAAP loss was driven mainly by a higher income-tax provision on losses in jurisdictions where little tax benefit can be realized.

Adjusted profit and cash flow

Adjusted EBITDA rose 4% to $1.20 billion. Adjusted net earnings were $821 million, or $0.71 per share, up 6% from $0.67. Brands net sales edged up 1% to $2.46 billion; generics fell 3% to $1.27 billion. Greater China net sales climbed 14% to $703 million, while Developed Markets slipped 2% to $2.22 billion.

Operating cash flow was $899 million and free cash flow was $814 million. Excluding transaction- and restructuring-related costs of $81 million, free cash flow was $895 million. Through Sept. 30 the company had returned about $717 million to shareholders, including roughly $300 million of buybacks, with about $700 million left under its repurchase authorization.

Guidance midpoints and Pacira deal

Viatris raised 2026 guidance midpoints to about $14.8 billion in total revenue (range $14.7 billion to $14.9 billion), $4.5 billion in adjusted EBITDA ($4.45 billion to $4.55 billion) and $2.60 in adjusted EPS ($2.56 to $2.63). The ranges exclude contribution from the planned cash purchase of Pacira BioSciences for $36.50 a share, or about $1.65 billion in equity value, which the company said it expects to close by the end of November.

Management also flagged supply constraints, including a voluntary pause at its Nashik, India, oral solid-dose plant after an FDA Official Action Indicated classification. It estimated those constraints cut about $100 million from third-quarter revenue and expects a similar hit in the fourth quarter, with production there targeted to resume in the first quarter of 2027. Related drug-sector results: BeOne Medicines’ Q3 outlook raise and Ironwood’s guidance lift.

Sources: Viatris, Nasdaq, TradingView