The Company acquired development programs from Idorsia for $350 million upfront, with potential milestone payments and royalties. This transaction expands the portfolio of innovative assets and combines Viatris' financial strength with Idorsia's drug development team.

The women's healthcare business divestiture closed in March 2024, resulting in a pre-tax gain of $80.8 million. The Company continues to execute its divestiture strategy.

The Company expects the divestiture of its API business in India to close imminently. This is part of the announced divestiture plans.

The Company repurchased approximately 19.2 million shares of common stock at a cost of approximately $250 million during the three months ended March 31, 2024. The Board authorized a $1.0 billion increase to the share repurchase program.

The Company expects the OTC Transaction to close by mid-year 2024, subject to regulatory approvals, receipt of required consents and other closing conditions. This is a key step in the company's strategic initiatives.

The Company paid a quarterly dividend of $0.12 per share on March 18, 2024, and declared another dividend of the same amount payable in June. This demonstrates a continuing commitment to shareholder returns.

The filing states that there have been no material changes in the Company's risk factors from those disclosed in Viatris' 2023 Form 10-K. This suggests that the company is not facing any new significant risks.

The company is involved in various disputes, governmental and/or regulatory inquiries, investigations and proceedings, tax proceedings and litigation matters, both in the U.S. and abroad, that arise from time to time, some of which could result in losses, including damages, fines and/or civil penalties, and/or criminal charges against the Company.

The Company is subject to income taxes and tax audits in many jurisdictions. A certain degree of estimation is thus required in recording the assets and liabilities related to income taxes. Tax audits and examinations can involve complex issues, interpretations, and judgments and the resolution of matters that may span multiple years, particularly if subject to litigation or negotiation.

Lower net sales of existing products within the U.S., including EpiPen® Auto-Injector and Lyrica®, as a result of lower pricing and volumes mainly due to unfavorable channel dynamics, are still prevalent.

New product sales, primarily in the U.S., of approximately $154.5 million, have offset some of the revenue decline from existing products.

Certain markets in which we do business outside of the U.S. have undergone government-imposed price reductions, and further government-imposed price reductions are expected in the future. Such measures, along with the tender systems discussed below, are likely to have a negative impact on sales and gross profit in these markets.

The Company continues to undertake restructurings and other optimization initiatives of differing types, scope and amount during the covered periods.

Our results of operations, cash flows and financial condition could also be affected by other risks of doing business internationally, including the impact of inflation, elections, geopolitical events, including the ongoing conflicts in the Middle East and between Russia and Ukraine and related trade controls, sanctions, supply chain and staffing challenges and other economic considerations, supply chain disruptions.

The Company excludes several significant items from adjusted measures, including Purchase Accounting Amortization and Other Related Items, Fair Value Adjustments, including Contingent Consideration, Share-based Compensation Expense, and Restructuring, Acquisition and Divestiture-Related Costs and Other Special Items.

R&D expense for the three months ended March 31, 2024 was $199.7 million, compared to $182.9 million for the comparable prior year period, an increase of $16.8 million. This increase was primarily due to continued investment in our pipeline.

The transaction expands our portfolio of innovative assets by adding two Phase 3 assets and combines our financial strength and worldwide operational infrastructure with Idorsia's proven, highly-productive drug development team and innovation engine.

Beginning in January 2023, certain generic companies notified us that they had filed ANDAs with the FDA seeking approval to market generic versions of Yupelri® with associated Paragraph IV certifications.

The Company repurchased approximately 19.2 million shares of common stock at a cost of approximately $250 million during the three months ended March 31, 2024. The Board authorized a $1.0 billion increase to the share repurchase program.

The Company paid a quarterly dividend of $0.12 per share on March 18, 2024, and declared another dividend of the same amount payable in June.

Interest expense for the three months ended March 31, 2024 totaled $138.4 million, compared to $147.0 million for the three months ended March 31, 2023, a decrease of $8.6 million primarily due to the impact of debt repayments.

The provided 10-Q filing does not contain explicit information about new or ongoing ESG initiatives. Further research into other company communications may be necessary to assess ESG performance.

The decrease in net sales was the result of the unfavorable impact of foreign currency translation of approximately $77.1 million, or 2%, primarily reflecting changes in the U.S. Dollar as compared to the currencies of subsidiaries in Japan, China, and countries in Emerging Markets.

Our results of operations, cash flows and financial condition could also be affected by other risks of doing business internationally, including the impact of inflation, elections, geopolitical events, including the ongoing conflicts in the Middle East and between Russia and Ukraine and related trade controls, sanctions, supply chain and staffing challenges and other economic considerations, supply chain disruptions, foreign currency exchange fluctuations, public health epidemics, changes in intellectual property legal protections and other regulatory changes.

Certain markets in which we do business outside of the U.S. have undergone government-imposed price reductions, and further government-imposed price reductions are expected in the future. Such measures, along with the tender systems discussed below, are likely to have a negative impact on sales and gross profit in these markets.