Viatris Inc. (NASDAQ: VTRS) Securities Fraud Class Action (2023)
Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired Viatris Inc. (“Viatris”) (NASDAQ: VTRS) common stock between March 1, 2021 and February 25, 2022, inclusive (the “Class Period”).
Viatris is a global healthcare company that formed following the merger of Mylan and Pfizer’s Upjohn division.
At the outset of the Class Period, Viatris announced a multi-phase plan, the first phase of which that would allow it to: (1) create a stable revenue base; (2) realize $1 billion in cost synergies by 2024; and (3) improve cash conversion and free cash flow generation. Defendants claimed that Viatris would achieve its first phase goals through its strong pipeline of new products, including those in its biosimilars business. Defendants further represented that Viatris’s strong pipeline and business development would offset erosion of the company’s base business.
However, contrary to Defendants’ representations, the company was experiencing significantly more competition in its United States complex generics business than disclosed. As a result, Viatris was not able to effectively manage its base business erosion or create a stable revenue base. Instead, throughout 2021, Viatris total revenues were declining quarter-over-quarter.
Current Status of Case:
On September 20, 2024 the Court granted Defendants’ Motion to Dismiss. On October 21, 2024, Lead Plaintiff filed a Notice of Appeal to the United States Court of Appeals for the Third Circuit, and on November 6, 2025, the Third Circuit affirmed the dismissal. This action has concluded.
If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at [email protected]. If you would like additional information about the suit, please click on the link “Submit Your Information” above and fill out the form as promptly as possible.
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP:
Kessler Topaz Meltzer & Check, LLP (KTMC) is a leading U.S. plaintiff-side law firm focused on securities-fraud class actions and global investor protection. The firm represents individual investors as well as institutions, such as major pension funds, asset managers, and international investors. KTMC has led some of the largest recoveries in securities litigation and has been recognized by peers and the legal media with numerous accolades, including The National Law Journal’s Plaintiff’s Hot List and Trailblazers in Plaintiffs’ Law, BTI Consulting Group’s Honor Roll of Most Feared Law Firms, The Legal Intelligencer’s Class Action Firm of the Year, Lawdragon’s Leading Plaintiff Financial Lawyers, and Law360’s Titans of the Plaintiffs Bar. The firm operates globally with offices in Pennsylvania and California. KTMC has recovered over $25 billion for our clients and the classes they represent.