- Generic drugmaker, Viatris ( NASDAQ: VTRS ) posted three back-to-back sessions of losses to approach a 52-week low on Friday. Over 10.8M of company shares have changed hands so far, compared to the 65-day average volume of ~11.1M.
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Established in 2020 as a combination of Pfizer ( PFE ) spinoff Upjohn and generics drugmaker Mylan, Viatris ( VTRS ) has lost ~33% YTD, including over 20% in February when the company announced a deal to sell its biosimilar assets to India's Biocon Biologics for up to ~$3.3B.
- The decline comes ahead of the Viatris' ( VTRS ) 2Q 2022 results scheduled for early August, which according to Seeking Alpha contributor Trapping Value, is likely to involve a guidance cut.
- “Q2-2022 results and subsequent guidance will be critical to determine the direction. If we are correct, there should be a good drop across the board for revenues, margins and EBITDA,” the author argued.
- Noting the impact of inflation, forex, and rising rates on Viatris ( VTRS ), the contributor warns of a “bad quarter,” and noting a long-term decline in one-off costs and improving cashflows, urge
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Viatris extends decline to reach 52-week low