Shares of Viatris Inc. (NASDAQ:VTRS) traded today at $13.12, breaking its 52-week low. This new low was reached on below average trading volume as 3.1 million shares traded hands, while the average 30-day volume is approximately 11.6 million shares.
Viatris Inc. has overhead space with shares priced $13.27, or 4.4% below the average consensus analyst price target of $13.88.
The new entity will largely be led by Pfizer executives and will be registered in Delaware. The new entity is anticipated to leverage the stand-alone Mylan infrastructure consisting of roughly 55 manufacturing and research and development facilities and that were largely acquired, including Matrix Laboratories and the generics business of Germany-based Merck KGaA. The combined portfolio will consist of the mature Upjohn drugs with notably better economics and Mylan’s portfolio of more than 7,500 generic, specialty, and over-the-counter active ingredients and medicines, including EpiPen (treatment for anaphylaxis acquired through the Merck KGaA transaction). Unlike its generic peers, the company has made the most progress on the biosimilar front.
Over the past year, Viatris Inc. has traded in a range of $13.12 to $18.86 and is now at $13.27.
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