What restructuring costs and savings did Viatris announce?

Viatris expects total pre-tax restructuring charges of $700 million to $850 million, including $50 million to $100 million of non-cash charges and $650 million to $750 million of estimated cash costs, mainly severance and employee benefits. Management believes related savings will be $600 million to $700 million once fully implemented, with most expected to improve operating cash flow.

Why was the 2025 net loss so large?

The 2025 U.S. GAAP net loss of $(3.51) billion included a $2.9 billion goodwill impairment charge recorded following an interim goodwill impairment test as of March 31, 2025, along with other special items such as Biocon Biologics preferred share remeasurement losses of approximately $534.8 million in other expense, net.

How is the Nashik facility fire expected to affect operations?

A fire in a service area at the oral solid dose facility in Nashik, India, in mid-February 2026 led to a temporary suspension of manufacturing. The company expects operations to resume beginning in April 2026 and says it considered the incident and shutdown in formulating its 2026 guidance.

What key events are upcoming for Viatris?

Viatris plans an Investor Event on March 19, 2026, to outline its long-term revenue and earnings growth outlook and portfolio strategy. The FDA assigned a PDUFA goal date of October 17, 2026 for MR-141 for presbyopia and July 30, 2026 for its low-dose estrogen weekly patch for contraception, and the company anticipates regulatory decisions for six product candidates in 2026.

VTRS 8-K: Earnings & Results & Financial Events

Q: What is the 2026 financial guidance?

The company guides to 2026 total revenues of $14.45 billion to $14.95 billion, adjusted EBITDA of $4.15 billion to $4.45 billion, adjusted EPS of $2.33 to $2.47, and free cash flow excluding transaction-related and restructuring-related costs of $1.95 billion to $2.35 billion. U.S. GAAP net cash provided by operating activities is estimated at $1.7 billion to $2.0 billion.

01—Abstract

Summary

Summary of the 8-K filed February 26, 2026. Cited figures are marked; the original filing is the authoritative source.

Viatris Inc. reported fourth-quarter and full-year 2025 results on February 26, 2026, and announced 2026 guidance.

For the full year 2025, total revenues were $14.3 billion^a, versus $14.7 billion in 2024, and U.S. GAAP net loss was $(3.51) billion, or $(3.00) per share, which includes a $2.9 billion goodwill impairment charge. Adjusted EBITDA was $4.16 billion and adjusted EPS was $2.35, compared with $4.67 billion and $2.65 in 2024. U.S. GAAP net cash provided by operating activities was $2.3 billion for 2025, and free cash flow excluding transaction-related costs was $2.2 billion.

The company also completed its enterprise-wide strategic review (EWSR) and committed to restructuring activities expected to reduce its global workforce by up to approximately 10%, with activities completed primarily over the next three years. Viatris expects total pre-tax restructuring charges of $700 million to $850 million^b, of which $650 million to $750 million are estimated cash costs, and potential savings of $600 million to $700 million once fully implemented, mostly improving operating cash flow. The press release describes total cost savings of $650 million with reinvestment of up to $250 million over the next three years.

For 2026, guidance calls for total revenues of $14.45 billion to $14.95 billion^c, adjusted EBITDA of $4.15 billion to $4.45 billion, adjusted EPS of $2.33 to $2.47, and free cash flow excluding transaction-related and restructuring-related costs of $1.95 billion to $2.35 billion. Management noted a mid-February 2026 fire at the Nashik, India oral solid dose facility, with operations expected to resume in April 2026 and already considered in guidance. An Investor Event is scheduled for March 19, 2026.

02—Key points

Key Highlights

2025 total revenues of $14.3 billion, down from $14.7 billion in 2024; fourth-quarter 2025 total revenues of $3.7 billion, up 5% on a reported basis.
U.S. GAAP net loss of $(3.51) billion for 2025 (EPS of $(3.00)), including a $2.9 billion goodwill impairment charge; adjusted EPS was $2.35 versus $2.65 in 2024.
Enterprise-wide strategic review completed, with a global workforce reduction of up to approximately 10% and restructuring activities expected to be completed primarily over the next three years.
Restructuring charges expected at $700 million to $850 million pre-tax, including $650 million to $750 million of estimated cash costs; potential savings of $600 million to $700 million once fully implemented.
2026 guidance: total revenues of $14.45 billion to $14.95 billion, adjusted EBITDA of $4.15 billion to $4.45 billion, adjusted EPS of $2.33 to $2.47, and free cash flow excluding transaction and restructuring costs of $1.95 billion to $2.35 billion.
Nashik, India manufacturing facility temporarily suspended after a mid-February 2026 fire; operations expected to resume beginning April 2026, with the impact considered in 2026 guidance.
Biocon Biologics stake sale closed in Q1 2026 for total consideration of $815 million ($400 million cash and $415 million in Biocon equity shares); Investor Event scheduled for March 19, 2026.

03—Questions

Frequently Asked Questions

What restructuring costs and savings did Viatris announce?
Viatris expects total pre-tax restructuring charges of $700 million to $850 million, including $50 million to $100 million of non-cash charges and $650 million to $750 million of estimated cash costs, mainly severance and employee benefits. Management believes related savings will be $600 million to $700 million once fully implemented, with most expected to improve operating cash flow.
What is the 2026 financial guidance?
The company guides to 2026 total revenues of $14.45 billion to $14.95 billion, adjusted EBITDA of $4.15 billion to $4.45 billion, adjusted EPS of $2.33 to $2.47, and free cash flow excluding transaction-related and restructuring-related costs of $1.95 billion to $2.35 billion. U.S. GAAP net cash provided by operating activities is estimated at $1.7 billion to $2.0 billion.
Why was the 2025 net loss so large?
The 2025 U.S. GAAP net loss of $(3.51) billion included a $2.9 billion goodwill impairment charge recorded following an interim goodwill impairment test as of March 31, 2025, along with other special items such as Biocon Biologics preferred share remeasurement losses of approximately $534.8 million in other expense, net.
How is the Nashik facility fire expected to affect operations?
A fire in a service area at the oral solid dose facility in Nashik, India, in mid-February 2026 led to a temporary suspension of manufacturing. The company expects operations to resume beginning in April 2026 and says it considered the incident and shutdown in formulating its 2026 guidance.
What key events are upcoming for Viatris?
Viatris plans an Investor Event on March 19, 2026, to outline its long-term revenue and earnings growth outlook and portfolio strategy. The FDA assigned a PDUFA goal date of October 17, 2026 for MR-141 for presbyopia and July 30, 2026 for its low-dose estrogen weekly patch for contraception, and the company anticipates regulatory decisions for six product candidates in 2026.

04—Continue

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