Pharmaceutical businesses spend billions of dollars developing medicines that they then protect with a fortress of intellectual property (IP) safeguards to make sure that competitors can't benefit from their work.
But for companies with a bit of patience, it pays to wait out the years of exclusivity protections and then develop generic versions of yesteryear's best-selling drugs, which are typically still in demand by patients. Plus, those patients are frequently tired of paying high prices for their medications, driving them into the market for off-brand drugs as soon as those versions are there to buy.
And that's why Viatris (NASDAQ: VTRS) manufactures and sells generic versions of crucial medicines. It owns the rights to sell some of the most popular branded drugs like Lipitor, Xanax, Viagra, and Zoloft, to name just a few. And it's also a relatively new player in the generic medicine space.
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Is Viatris Stock a Buy Now?