Healthcare company Viatris has announced that the European Commission (EC) has approved the planned divestiture of the majority of its Over-the-Counter (OTC) business to Cooper Consumer Health (CCH). With all necessary regulatory clearances obtained, Viatris expects the transaction to be completed by early July 2024. Further details about the transaction can be found in Viatris’ Form 8-K filed with the United States Securities and Exchange Commission on October 1, 2023.
Viatris Inc. is a global healthcare company that bridges the traditional divide between generics and brand-name medications. Its mission is to empower people worldwide to live healthier at every stage of life by providing access to high-quality medicines. Viatris supplies medications to approximately one billion patients annually, covering a wide range of health needs from acute to chronic conditions.
Viatris Highlights Global Reach and Diverse Medicine Portfolio Amid Forward-Looking Statements
The company boasts an extensive and diverse portfolio of medicines, supported by a global supply chain designed to reach more people when and where they need them. Viatris combines scientific expertise with a deep commitment to addressing some of the world’s most enduring health challenges. Headquartered in the U.S., Viatris has global centers in Pittsburgh, Shanghai, and Hyderabad, India. More information is available at viatris.com and investor.viatris.com, and on their social media platforms.
This announcement contains “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995. These statements include the expectation that no further regulatory clearances are needed and that the transaction will close in early July 2024. However, forward-looking statements are inherently subject to risks and uncertainties, which could cause actual results to differ materially from those projected.
Over-the-Counter Business Divestiture Approved as Viatris Addresses Forward-Looking Factors
Various factors can impact Viatris’ forward-looking statements, including regulatory actions, legal proceedings, strategic initiatives, economic conditions, international operations, data security, intellectual property protection, customer and supplier relationships, public health outbreaks, competition, purchasing patterns, stock price fluctuations, and stock repurchases.
Viatris remains committed to transparency and regularly uses its website to disclose material information to the public, in compliance with the SEC’s Regulation Fair Disclosure (Reg FD). The company undertakes no obligation to update these forward-looking statements, except as required by law.
The European Commission’s approval of the divestiture of Viatris’ Over-the-Counter business to Cooper Consumer Health marks a significant step in Viatris’ strategic plan to streamline operations and focus on core areas of healthcare. This divestiture is expected to enhance the company’s ability to provide high-quality medications and health solutions globally. With the completion of this transaction anticipated in early July 2024, Viatris continues to strengthen its position as a leader in the healthcare industry, committed to addressing the diverse needs of patients worldwide.
Resource: Viatris, June 26, 2024
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