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Viatris To Divest OTC, Women's Healthcare, And API Businesses In Strategic Move, For Up To $6.94B Of Total Gross Proceeds
Viatris Inc Ordinary Shares +0.52%
Viatris Inc Ordinary Shares VTRS | 11.65 | +0.52% |
- Total Gross Proceeds From All Divestitures, Including the 2022 Divestiture of the Company's Biosimilars Business, and the Estimated Retained Value are in Line with the Company's Previously Communicated Range
- Strategic Decision Made to Retain Rights and Opportunities for Viagra®, Dymista® and Select Over-the-Counter (OTC) Products in Certain Markets Representing Approximately $1.6B in Estimated Retained Value
- Total Transactions Value Represents up to $6.94B of Total Gross Proceeds Which Represents an Accretive Multiple of 12.4x [1]
- Offer for Substantially All of OTC Business Reflects Gross Consideration of up to Approximately $2.17B, Representing an Estimated Accretive Multiple of 12.8x; Definitive Agreements for Active Pharmaceutical Ingredients (API) and Women's Healthcare Reflect Gross Proceeds of up to Approximately $1.2B, Representing an Estimated Accretive Multiple of 9.9x
- Combined Divestitures Would Result in up to 12 Facilities and More Than 6,000 Employees Representing Approximately 15 Percent of the Company's Global Workforce Being Conveyed, Substantially Simplifying the Organization
- Today's Announced Divestitures Expected to Close by the End of the First Half of 2024, Subject to Regulatory Approvals, Consultations and Other Closing Conditions
- Completion of Divestitures Will Bring Successful Conclusion to All Phase 1 Efforts and Commitments, Including Prioritizing Use of Net Proceeds for Debt Paydown to Reach Gross Leverage Target [1] of 3.0x in the First Half of 2024
