By Josh Beckerman
Viatris shares fell to a 52-week low after the drug company said issues related to a India facility are expected to hurt 2025 total revenue by about $500 million.
The stock was recently down 14% to $9.63 and is down about 23% this year.
In December, the company received a warning letter and import alert from the Food and Drug Administration. The import alert affects 11 actively distributed products, including lenalidomide and everolimus, but the FDA made exceptions, subject to certain conditions, for four products based on shortage concerns.
Viatris said fourth-quarter results were strong and that full-year cash flow exceeded guidance. It reported fourth-quarter sales of $3.52 billion, down 8%.
The company plans to prioritize capital return in 2025, including $500 million to $650 million in share repurchases.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
February 27, 2025 13:20 ET (18:20 GMT)
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