INVESTIGATION ALERT: The Gross Law Firm Notifies Shareholders of Viatris Inc. of an Investigation and Potential Class Action Lawsuit – (NasdaqGS:VTRS)
NEW YORK, May 3, 2023
NEW YORK, May 3, 2023 /PRNewswire/ — The Gross Law Firm issues the following notice to shareholders of Viatris Inc.:
Before the market opened on February 28, 2022, Viatris unexpectedly announced the Company had entered into an agreement to sell its biosimilars business to Biocon Biologics Limited, which was anticipated to close in the second half of 2022. Additionally, Viatris announced that it was seeking to divest additional business assets and undertake a significant global reshaping of its business, which would focus on developing products in three core therapeutic areas: ophthalmology, gastrointestinal and dermatology. Viatris also announced lower than expected guidance for fiscal year 2022 with total revenues expected to be between $17.0 to $17.5 billion, adjusted EBITDA expected to be $5.8 to $6.2 billion, and free cash flow expected to be $2.5 to $2.9 billion. Viatris attributed the lower-than expected guidance, in part, to competition around key products, price deterioration in certain markets, foreign exchange impacts, inflation, and a lower adjusted EBITDA margin for the biosimilar business due to its partnership structure and profit-sharing arrangements .
Following this news, Viatris’ stock price fell approximately 24% to close at $11.01 per share on February 28, 2022.
Due to the forgoing, The Gross Law Firm is investigating potential securities fraud claims on behalf of certain Viatris investors. If you have incurred a loss on your VTRS investment, please contact us using the link below to discuss your rights.
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of debt, fraud and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incur losses when false and/or misleading statements or the omission of material information by a company leads to artificial inflation of the company’s stock. Attorney advertising. Prior results do not guarantee similar outcomes.
The Gross Law Firm
15 West 38th Street, 12th floor
New York, New York, 10018
Email: [email protected]
Phone: (646) 453-8903
View original content:https://www.prnewswire.com/news-releases/investigation-alert-the-gross-law-firm-notifies-shareholders-of-viatris-inc-of-an-investigation-and-potential- class-action-lawsuit–nasdaqgs-vtrs-301815067.html
SOURCE The Gross Law Firm