Division Combines Oyster Point Pharma’s Eye Care Expertise with Famy Life Science’s Phase III-ready Pipeline and Lays Foundation for Viatris to Become a Global Eye Care Leader
Purchases Have the Potential to Add at Least $1 Billion in Sales by 2028
Transactions Showcase the Power of Viatris’ Global Healthcare Gateway®
PITTSBURGH , Jan. 3, 2023 /PRNewswire/ — Viatris Inc. (NASDAQ: VTRS ), a global healthcare company, today announced that it has closed its acquisitions of Oyster Stage Pharma plus Famy Life Sciences to establish a new Viatris Vision Care Division. The transaction was first announced on November 7 as part of Viatris’ strategic update. Former Oyster Point Pharma CEO, Jeffrey Nau , Ph. D., MMS, will lead the new division.
Viatris CEO Michael Goettler said: “We are starting the year out strong with the closings of our acquisitions of Oyster Point Pharma and Famy Life Sciences, bringing together our collective commercial expertise, scientific capabilities and global infrastructure to create the particular Viatris Attention Care Department, which has the potential to deliver even more access to patients and showcases the power associated with our Worldwide Healthcare Gateway. Viatris has created a performance driven, highly engaging plus inclusive culture and we are pleased to welcome our talented, new colleagues to our own team. We look forward to continuing to execute against the announced strategic objectives within 2023 that we expect will position Viatris for future growth. ”
Jeffrey Nau , Ph. D., MMS, the Head of the newly created Viatris Eye Treatment Division, stated: “We are thrilled to join Viatris and combine with the assets of Famy Life Sciences to form the foundation of the Viatris Eye Care Division. With this combination we are well on our way in order to expand our portfolio and commercial footprint and create the global eye care leader. We believe that a new leader in the space can meaningfully shape the future of eye care to address the unmet needs associated with patients with ophthalmic disease and the vision care professionals who take care of them. I would like to personally thank the particular Oyster Point Pharma team for their hard work plus commitment as we join the Viatris family and pursue Viatris’ mission to empower people worldwide to live healthier at every stage associated with life. ”
Under the particular terms of a definitive agreement, Viatris acquired Oyster Point Pharma for approximately $415 million in cash upfront, which includes the $11 per share paid to Oyster Point Pharma stockholders through a tender offer and the particular repayment associated with the principal amount of certain debt of Oyster Point Pharma. In addition , each Oyster Stage Pharma stockholder received one non-tradeable contingent value right, representing up to an additional $2 for each share, or approximately $60 million in the aggregate, contingent upon Oyster Point Pharma’s achieving certain metrics based on full 12 months 2022 performance, which are usually expected to be determined within the first quarter associated with 2023.
The aggregate acquisition price for the Famy Existence Sciences business is expected to end up being approximately $280 million.
Viatris Incorporation. (NASDAQ: VTRS ) is a global healthcare company empowering people worldwide to reside healthier each and every stage of life. We provide access to medicines, advance sustainable operations, develop innovative solutions and leverage our collective expertise to connect more people to more products and services through our own one-of-a-kind Global Healthcare Gateway®. Formed in November 2020 , Viatris brings together scientific, manufacturing and distribution expertise along with proven regulatory, medical, and commercial capabilities to provide high-quality medicines in order to patients within more than 165 countries and territories. Viatris’ portfolio comprises more than 1, 400 approved molecules across a wide range of therapeutic areas, spanning both non-communicable plus infectious diseases, including globally recognized brands, complex generic and branded medicines and a variety of over-the-counter consumer products. With approximately 37, 000 co-workers globally, Viatris is headquartered within the U. S., with global centers in Pittsburgh , Shanghai and Hyderabad, India . Learn more in viatris. com and investor. viatris. possuindo , and connect with us on Twitter at @ViatrisInc , LinkedIn and YouTube .
This press release includes statements that will constitute “forward-looking statements. ” These statements are made pursuant to the safe harbor provisions of the particular Private Securities Litigation Reform Act associated with 1995. Such forward looking statements may include statements that the acquisitions have the potential to add at least $1 billion in sales simply by 2028; all of us are starting the yr out solid using the closings in our purchases of Oyster Point Pharma and Famy Life Sciences, joining together the collective industrial expertise, medical capabilities plus global facilities to produce the particular Viatris Eyesight Care Division, that has the potential to deliver even a lot more entry to individuals and displays the ability of our Worldwide Healthcare Entrance; Viatris has established an overall performance driven, extremely engaging and inclusive tradition and we all are delighted to welcome our skilled, new colleagues to our team; we anticipate ongoing to perform against our own announced tactical objectives in 2023 that we anticipate will placement Viatris with regard to future development; with this combination we are well on the way to expand our profile and commercial footprint plus create a worldwide eye care leader; every Oyster Point stockholder received one non-tradeable contingent value right, representing up in order to an extra $2 per share or $60 million contingent upon Oyster Point’s achieving certain metrics depending on full year 2022 performance, which are likely to be determined in the particular first quarter of 2023; as well as the anticipated aggregate acquisition price regarding the Famy Life Sciences business. Factors that could cause or even contribute to such differences include, but are not limited to: our other strategic initiatives, including possible and completed divestitures and the transactions closed today may not achieve their intended benefits within the expected timeframe or from all; the particular implementation of our own global restructuring initiatives and integration activities being more difficult, time consuming or costly than expected, or being unsuccessful; the potential impact of public health outbreaks, epidemics plus pandemics, including the ongoing challenges and uncertainties posed by the COVID-19 pandemic; the Company’s failure to achieve anticipated or targeted future financial and operating performance and results; actions and decisions of health care and pharmaceutical regulators; changes in healthcare and pharmaceutic laws plus regulations in the U. S. and abroad; any regulating, legal or other impediments to Viatris’ ability in order to bring new products to market, including but not limited to “at-risk” launches; Viatris’ or even its partners’ ability to create, manufacture, and commercialize products; the scope, timing plus outcome of any ongoing legal proceedings, and the effect of any such proceedings; any kind of significant breach of data security or data privacy or disruptions to our information technology systems; risks associated with international operations; the ability to protect intellectual property plus preserve mental property rights; changes within third-party relationships; the effect of any changes in Viatris’ or even its partners’ customer and supplier associations and customer purchasing patterns; the impacts of competition; changes in the economic and monetary conditions associated with Viatris or its partners; uncertainties plus matters beyond the control of management, including general economic conditions; and the particular other risks described inside Viatris’ filings with all the Investments and Exchange Commission (SEC). Viatris routinely uses the website as a means of disclosing material information to the general public in a broad, non-exclusionary manner for purposes of the SEC’s Regulation Fair Disclosure (Reg FD). Viatris undertakes no obligation to up-date these claims for revisions or modifications after the particular date of this release other compared to as required by law.
In particular, the statements in this release that will Viatris anticipates these acquisitions have the particular potential in order to add a minimum of $1 billion in sales by 2028 relate to Viatris’ Phase II strategy in 2024-2028 and its related goals, targets, forecasts, objectives and commitments (such statements, the “Phase II Outlooks”). Viatris believes that the assumptions used while a basis for these Phase II Outlooks are usually reasonable based on the information available to administration at this particular time. However , this information is not fact, and you are cautioned not to place undue reliance on any kind of such info. While particular of these types of statements might use language that imply a level associated with certainty about the likelihood that Viatris will attain these Stage II Outlooks, it is possible that Viatris will not attain them in the particular timeframe noted or with all. These Phase II Outlooks reflect assumptions as to certain business decisions that are subject in order to change. Important factors that may affect actual results and cause these Phase II Outlooks to not be achieved, or that will may change the underlying variables and presumptions on which usually these Phase II Outlooks were based plus cause these types of Phase II Outlooks to differ materially, include, but are not limited to, risks and questions relating in order to our planned acquisitions and divestitures, including whether this kind of transactions are completed upon the expected timelines or even at all, failure to achieve the anticipated advantages of any acquisitions or divestitures, failure to receive the anticipated cash proceeds of any kind of divestitures, inability to manage base business erosion, failure in order to bring new products to market on the anticipated timeframes or even at all, failing to carry out stock repurchases consistent with current expectations, stock price volatility, higher than expected SG& A, gross margins and R& D spend, industry overall performance, interest rate volatility, foreign exchange rates, tax prices, the regulatory environment plus general company and financial conditions, as well like those set forth within the first paragraph of “Forward Looking Statements”. In addition, although specific from the outlooks are presented with numerical specificity, they are still forward-looking statements that involve inherent risks and uncertainties. Further, these Stage II Outlooks cover multiple years and such information by its nature becomes less reliable along with each successive year. Accordingly, there can be no assurance that will any aspect of these Phase II Outlooks will be realized or that real results will not differ materially. Therefore , you should construe these statements regarding these Stage II Outlooks only seeing that goals, focuses on and goals rather than promises of future performance or even absolute claims.
SOURCE Viatris Inc.