Viatris Inc. reported its first quarter 2025 financial results, with total revenues of $3.25 billion, an 11% reported decrease compared to the prior year period, and a 2% decrease on a divestiture-adjusted operational basis. The company reported a U.S. GAAP net loss of $3.04 billion, primarily driven by a $2.9 billion goodwill impairment charge resulting from an interim impairment test as of March 31, 2025.
Despite the reported net loss, Viatris reaffirmed its 2025 outlook for total revenues, adjusted EBITDA, adjusted EPS, and free cash flow. The company's operational performance in Q1 was in line with its expectations across all segments. Adjusted EPS for the quarter was $0.50, and adjusted EBITDA was $923.5 million.
Viatris continued its commitment to returning capital to shareholders, having returned over $450 million year-to-date, including more than $300 million in share repurchases and approximately $143 million in dividends paid. The company expects total share repurchases for 2025 to be between $500 million and $650 million.
Key pipeline advancements were highlighted, including positive Phase 3 readouts for novel fast-acting meloxicam and XULANE LO, as well as the filing of a supplemental New Drug Application for EFFEXOR for Generalized Anxiety Disorder in Japan. Enrollment for selatogrel and cenerimod development programs remains on track.
Remediation efforts at the Indore manufacturing facility are progressing as planned, with Viatris expecting to submit a request for FDA reinspection mid-year. The goodwill impairment charge reflects increased discount rate assumptions due to heightened business risks and market volatility since late February 2025, impacting reporting units across North America, Europe, JANZ, and Emerging Markets.
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