Viatris Phase 1 Asset Divestiture Story: Plans To Sell Certain OTC Products, Women's Healthcare Business & More
Portfolio Pulse from Lekha Gupta
Viatris Inc (VTRS) has announced multiple deals to sell assets as part of Phase 1 of its planned asset disposition, expected to conclude by the end of this year. The company anticipates gross proceeds of about $6.94 billion from all asset sales. The net proceeds will be used to reduce debt, aiming for a gross leverage target of 3.0x in H1 2024. The deals include selling its Over-the-Counter (OTC) business, API business in India, and Women's Healthcare business. VTRS shares are trading higher by 2.33% premarket.
October 02, 2023 | 11:50 am
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Viatris Inc is selling multiple assets to reduce debt and simplify its organization. The company's shares are trading higher in premarket.
The news of Viatris selling its assets to reduce debt and simplify its organization is directly related to the company and its financial health. This is likely to be seen as a positive move by investors, leading to an increase in the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100