Viatris

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A global pharmaceutical company created through the 2020 combination of Mylan and Pfizer’s Upjohn business.

Last updated August 31, 2026

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Overview

Viatris is a global pharmaceutical and healthcare company headquartered in Canonsburg, Pennsylvania. It was created on November 16, 2020, when Mylan merged with Upjohn, Pfizer’s established-medicines business, in a Reverse Morris Trust transaction. The combined company retained Mylan’s broad manufacturing and generic-drug capabilities while adding Upjohn’s portfolio of long-established branded medicines. The name Viatris combines the Latin-derived words “via,” meaning path, and “tris,” meaning three. The company has associated the name with three strategic aims: expanding access to medicines, addressing patient needs through innovation, and building trust with healthcare professionals and institutions. Viatris trades on the Nasdaq under the symbol VTRS. Its portfolio spans branded medicines, generic and complex generic drugs, biosimilars, over-the-counter products, and active pharmaceutical ingredients. Therapeutic areas include cardiovascular disease, infectious diseases, oncology, immunology, central nervous system conditions, anesthesia, women’s health, diabetes and metabolism, gastroenterology, respiratory and allergy conditions, and dermatology. The company has described its portfolio as containing approximately 1,400 approved molecules, distributed through operations and commercial relationships across many markets. Important legacy brands associated with the company include Lipitor, Norvasc, Viagra, and Xanax, although the exact ownership, commercialization rights, and market availability of individual products can vary by country. Viatris also develops and commercializes generic alternatives and biosimilars intended to broaden access and increase competition in healthcare markets. Its post-formation launches and regulatory milestones have included a pediatric dolutegravir formulation for HIV treatment, Breyna, a generic equivalent of Symbicort in the United States, and Ryzumvi, an ophthalmic treatment previously known as Nyxol. Following its creation, Viatris initiated a global restructuring program intended to reduce costs and simplify its operating model. The company subsequently pursued portfolio reshaping, including the transfer of its biosimilars business to Biocon Biologics and the acquisition of ophthalmology companies Oyster Point Pharma and Famy Life Sciences. In 2023 it also announced agreements to divest most of its consumer over-the-counter business, its women’s healthcare business, and its India-based active pharmaceutical ingredients business. Viatris combines commercial operations, manufacturing, regulatory capabilities, and partnerships with public-health organizations. Its access-oriented work has included HIV treatment initiatives, HIV self-testing collaborations, and educational programs addressing non-communicable diseases. The company remains an active public pharmaceutical corporation, although its structure and portfolio have continued to evolve through acquisitions, divestitures, licensing arrangements, and product launches.

History

Viatris was formed from two substantial pharmaceutical businesses with different historical strengths. Mylan had developed into a major international generic-drug manufacturer, while Upjohn was Pfizer’s established-medicines division, carrying a collection of widely recognized products with long commercial histories. The proposed combination was structured as a Reverse Morris Trust transaction, allowing Upjohn to separate from Pfizer and combine with Mylan. The transaction was completed on November 16, 2020. The resulting company was named Viatris and began trading on Nasdaq under the ticker VTRS. Michael Goettler became the first chief executive officer. The corporate name was designed to express a route toward three objectives: improving access to medicines, meeting patient needs through innovation, and maintaining the confidence of healthcare professionals and other stakeholders. In its first month as an operating company, Viatris announced a broad restructuring and cost-reduction plan. The plan was expected to affect as many as 9,000 employees, equivalent to as much as one-fifth of the global workforce, as management sought to integrate the two predecessor organizations, reduce duplication, and simplify the company’s structure. The company entered the market with a broad portfolio of branded products, generics, biosimilars, over-the-counter medicines, and active pharmaceutical ingredients. Access to medicines became a prominent part of Viatris’s public-health profile. Its HIV portfolio included dolutegravir-based products, including a strawberry-flavored pediatric formulation designed to be easier for children to take. The company also participated in initiatives involving HIV self-testing and worked with international and professional organizations on education and treatment access. Fortune placed Viatris fifth on its 2021 Change the World list, citing its contribution to the availability of lower-cost HIV treatment and a pediatric formulation. Viatris continued to adjust its portfolio after the merger. In 2022 it agreed to transfer its biosimilars business and associated commercial and operational capabilities to Biocon Biologics. The transaction included cash and an equity interest in Biocon Biologics and was completed in November 2022. The company also agreed to acquire Oyster Point Pharma and Famy Life Sciences, transactions that closed in January 2023 and were intended to build a stronger ophthalmology platform. On April 1, 2023, Scott A. Smith became chief executive officer, succeeding Goettler. Smith had joined the board in 2022 before taking the top operating role. During the same period, Viatris emphasized portfolio focus and capital allocation. In October 2023 it announced agreements covering the sale of most of its over-the-counter business, its women’s healthcare business, and its India-based active pharmaceutical ingredients business. The announced transactions represented approximately $3.6 billion in aggregate value and reflected a move toward a more focused pharmaceutical portfolio. Product development and regulatory activity have remained central to the business. Viatris received U.S. approval for Breyna, a generic version of Symbicort, in 2022. It also advanced glatiramer acetate depot, a proposed once-monthly formulation for relapsing multiple sclerosis, and received regulatory milestones for pediatric HIV combinations and Ryzumvi, an ophthalmic product formerly known as Nyxol. In late December 2024, Viatris disclosed that the FDA had issued a warning letter and import alert involving its Indore, India manufacturing facility. The import alert covered actively distributed products, although some products received conditional exemptions because of shortage concerns. The cited issues included deficiencies in quality control and the handling of manufacturing defects. Viatris stated that it had taken corrective and preventive measures. The matter illustrates the regulatory and operational obligations associated with a pharmaceutical company operating a large multinational manufacturing network. Viatris continues to operate as a publicly listed global pharmaceutical company. Its present identity is shaped by the combination of Mylan’s access-oriented generic and manufacturing base with Upjohn’s established brands, followed by restructuring, targeted acquisitions, biosimilars-related transactions, and selective divestitures.

2024
FDA action involving Indore facility disclosed
[1]Viatrisen.wikipedia.org
The company disclosed an FDA warning letter and import alert involving its manufacturing facility in Indore, India.
2023
Scott A. Smith becomes CEO
[1]Viatrisen.wikipedia.org
Scott A. Smith succeeded Michael Goettler as chief executive on April 1.
2023
Portfolio divestitures announced
[1]Viatrisen.wikipedia.org
Viatris announced agreements to sell most of its over-the-counter business, women’s healthcare business, and India-based active pharmaceutical ingredients business.
2022
Breyna receives U.S. approval
[1]Viatrisen.wikipedia.org
The FDA approved Breyna, described as the first generic version of Symbicort in the United States, for asthma and chronic obstructive pulmonary disease.
2022
Biosimilars transaction agreed with Biocon Biologics
[1]Viatrisen.wikipedia.org
Viatris agreed to transfer its biosimilars portfolio and related capabilities to Biocon Biologics.
2022
Ophthalmology acquisitions announced
[1]Viatrisen.wikipedia.org
Viatris agreed to acquire Oyster Point Pharma and Famy Life Sciences to create an ophthalmology division.
2021
Recognized for HIV treatment access
[1]Viatrisen.wikipedia.org
Fortune ranked Viatris fifth on its Change the World list for expanding access to lower-cost HIV treatment and pediatric formulations.
2020
Viatris is formed
[1]Viatrisen.wikipedia.org
Upjohn and Mylan completed their combination on November 16, creating Viatris and establishing Michael Goettler as chief executive officer.
2020
Nasdaq trading begins
[4]Viatris investor relationsviatris.com
Viatris began trading under the ticker VTRS after the Mylan–Upjohn transaction.
2020
Global restructuring announced
[1]Viatrisen.wikipedia.org
The company announced a restructuring program expected to affect up to 20% of its worldwide workforce.

Products and positioning

A global healthcare company focused on expanding access to medicines through a combination of established brands, generics, complex generics, biosimilars, and healthcare partnerships.

Generic pharmaceuticals · 2020
Generic and complex generic medicines
Generic and complex generic medicines form a core part of Viatris’s portfolio. These products are intended to provide lower-cost alternatives to established therapies and may include dosage forms, delivery systems, or manufacturing processes that are more technically demanding than conventional tablets or capsules. Viatris markets products across cardiovascular, infectious disease, oncology, central nervous system, respiratory, gastrointestinal, dermatology, and other therapeutic areas.
Biologic medicines · 2020
Biosimilars
Viatris built a significant biosimilars business through the combination of Mylan and Upjohn-related capabilities. Biosimilars are biologic medicines designed to be highly similar to already approved reference products. In 2022 Viatris agreed to contribute its biosimilars portfolio and related commercial and operational capabilities to Biocon Biologics; that transaction was completed in November 2022.
Cardiovascular medicine
Lipitor
Lipitor is the brand name for atorvastatin, a statin used to reduce low-density lipoprotein cholesterol and help lower cardiovascular risk. It is one of the established brands associated with the Upjohn business that became part of Viatris at formation. Availability and commercialization arrangements can differ by jurisdiction.
Cardiovascular medicine
Norvasc
Norvasc is the brand name for amlodipine, a calcium-channel blocker used in the treatment of hypertension and certain forms of angina. The product entered Viatris through the Upjohn portfolio and represents the company’s established branded-medicines heritage in cardiovascular care.
Respiratory medicine · 2022
Breyna
Breyna is a budesonide and formoterol fumarate dihydrate inhalation aerosol. The U.S. FDA approved it in 2022 as a generic version of Symbicort for asthma and chronic obstructive pulmonary disease. It combines an inhaled corticosteroid with a long-acting bronchodilator.
HIV medicine · 2020
Dolutegravir pediatric formulation
Viatris received U.S. regulatory approval in December 2020 for a pediatric dolutegravir formulation intended for children with HIV in low- and middle-income countries. The strawberry-flavored tablets can dissolve in liquid and were made available at a substantially lower price than earlier treatment options, supporting access-oriented HIV programs.
Ophthalmic medicine · 2023
Ryzumvi
Ryzumvi is phentolamine ophthalmic solution 0.75%, approved by the FDA in 2023 for treatment of pharmacologically induced mydriasis. The product was previously known as Nyxol and became part of Viatris’s ophthalmology activities following its acquisition of Oyster Point Pharma.
Branded prescription medicine
Viagra
Viagra is the established brand name for sildenafil, a medicine used to treat erectile dysfunction. It is among the recognizable Upjohn legacy brands associated with Viatris’s branded pharmaceutical portfolio, although product rights and market arrangements may vary across territories.
Central nervous system medicine
Xanax
Xanax is the established brand name for alprazolam, a benzodiazepine prescription medicine. It is part of the legacy branded portfolio inherited through Upjohn. Its use, prescribing controls, labeling, and commercial availability are subject to local regulations.

Controversies

2024
FDA warning letter and import alert for Indore facility
The FDA issued a warning letter and import alert concerning Viatris’s manufacturing facility in Indore, India. The agency cited deficiencies involving quality control and management of manufacturing defects. The alert affected 11 actively distributed products, while four products received conditional exemptions because of shortage concerns. Viatris stated that corrective and preventive actions had been taken.
Source

2021HIV self-testing access partnership
135 countries
Viatris partnered with Atomo Diagnostics and Unitaid to expand HIV self-testing access and reduce test prices by approximately half.
Outcome. The partnership targeted broader availability and affordability of HIV self-testing.
Source
2021NCD Academy
Global
Viatris worked with the American College of Cardiology, the NCD Alliance, and the World Heart Federation on the NCD Academy, an educational platform supporting healthcare capacity in non-communicable disease prevention and management.
Outcome. Created a professional education platform addressing cardiovascular and other non-communicable diseases.
Source
2020Pediatric HIV treatment access
Low- and middle-income countries
Viatris supported access to pediatric dolutegravir through a strawberry-flavored formulation that could dissolve in liquid and was offered at a significant discount compared with prior treatment options.
Outcome. Expanded availability of a child-friendly HIV treatment formulation.
Source
2020Children and caregivers COVID-19 resources
Global
Viatris worked with Sesame Workshop to create resources intended to help children and caregivers manage social and emotional effects associated with the COVID-19 pandemic.
Outcome. Educational and family-support resources were made available through the partnership.
Source

Brand decisions

2024
Implement corrective actions at Indore facilityOther
Background
The FDA issued a warning letter and import alert citing manufacturing quality-control deficiencies at Viatris’s Indore, India facility.
Action taken
Viatris stated that it had undertaken corrective and preventive actions in response to the regulator’s findings.
Aftermath
The import alert restricted U.S. acceptance of affected products until the regulatory concerns were addressed, subject to specified exemptions for shortage-sensitive products.
Source
2023
Divest selected non-core businessesStrategy
Background
Viatris continued to narrow its portfolio after the Mylan–Upjohn combination and focus on selected pharmaceutical businesses.
Action taken
Reached agreements to divest most of its over-the-counter business, its women’s healthcare business, and its India-based active pharmaceutical ingredients business.
Aftermath
The planned disposals represented a substantial portfolio simplification and were reported at approximately $3.6 billion in aggregate value.
Aggregate transaction value. Approximately $3.6 billion (Agreements announced October 2023)
Source
2022
Transfer biosimilars business to Biocon BiologicsM&A
Background
Viatris sought to monetize and restructure its biosimilars activities while retaining an economic interest in the resulting business.
Action taken
Agreed to contribute the biosimilars portfolio and related commercial and operational capabilities to Biocon Biologics in exchange for cash and an equity stake; the transaction closed in November 2022.
Aftermath
Biocon Biologics assumed the transferred biosimilars operations, while Viatris retained an interest in the combined platform.
Maximum transaction value. Up to $3.335 billion (Announced February 2022; completed November 2022)
Source
2022
Build an ophthalmology divisionM&A
Background
Viatris identified ophthalmology as an area for portfolio development and sought platform capabilities beyond its legacy medicines.
Action taken
Agreed to acquire Oyster Point Pharma and Famy Life Sciences for aggregate consideration reported at approximately $700–750 million; both acquisitions closed in January 2023.
Aftermath
The transactions established a dedicated ophthalmology division and supported the development and commercialization of products such as Ryzumvi.
Aggregate acquisition consideration. Approximately $700–750 million (Announced November 2022; closed January 2023)
Source
2020
Combine Mylan with UpjohnM&A
Background
Mylan and Pfizer’s Upjohn business combined through a Reverse Morris Trust transaction to create a global company spanning established brands, generics, and other pharmaceutical products.
Action taken
Completed the combination on November 16, 2020, renamed the company Viatris, and listed the shares on Nasdaq under VTRS.
Aftermath
Viatris began operations with a broad international portfolio and subsequently pursued integration, restructuring, and portfolio reshaping.
Source
2020
Launch global restructuring programStrategy
Background
The newly combined organization sought to reduce duplication and lower its cost base after integrating Mylan and Upjohn.
Action taken
Announced a restructuring expected to affect up to 20% of the global workforce, or approximately 9,000 jobs.
Aftermath
The program formed part of Viatris’s effort to simplify operations and improve the economics of its combined portfolio.
Source

Recent events

Unconfirmed
FDA approves Ryzumvi for adult presbyopia[5]FDA批准Ryzumvi用于成人老花眼pharmaceutical-business-review.com
Reported: 2026-10-19
The US Food and Drug Administration approved Viatris’ Ryzumvi to treat presbyopia in adults.
Unconfirmed
Viatris acquires Pacira BioSciences for $1.65 billion[6]Viatris以16.5亿美元收购Pacira BioSciencesmiragenews.com
Viatris Inc. has acquired Pacira BioSciences, Inc.'s outstanding common stock shares for $36.50 per share in cash, in a $1.65 billion transaction. Law firm Ashurst Perkins Coie, which served as main counsel throughout the transaction process, advised Pacira. Viatris plans to extend product lifecycles, sustain meaningful sales, and expand the Pacira products' reach across select markets within its global infrastructure.
2021-11-11
Viatris donates $1 million to SBP's Got Your Back Fund[7]Viatris向SBP的Got Your Back基金捐赠100万美元prnewswire.com
Reported: 2021-11-11
Viatris announced a $1 million donation to SBP, with the partnership focused primarily on SBP's Got Your Back Fund, which supports post-disaster housing for low-to-moderate income U.S. veterans.
2021-05-27
Viatris and The Defeat-NCD Partnership sign cooperation MoU[8]Viatris与Defeat-NCD Partnership签署合作谅解备忘录prnewswire.com
Reported: 2021-05-27
Viatris and The Defeat-NCD Partnership at UNITAR signed an MoU for continued cooperation and joint use of resources on programmes and initiatives addressing non-communicable diseases and their impacts on patients as a result of COVID-19.
2020-12-11
Viatris announces details of global restructuring[9]Viatris 公布全球重组细节prnewswire.com
Reported: 2020-12-11
Viatris announced additional details of its multi-year global restructuring initiative, including plans to close, downsize or divest up to 15 manufacturing facilities and the expectation that up to 20% of its global workforce may be affected upon completion. The announced actions were plans, with workforce reductions at the named sites expected to occur in phases over the next few years.

Sources10 sources

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