Viatris Q1 Revenues Up 8% to $3.52B, Adjusted EBITDA Up 14% to $1.05B
VTRS•Viatris reported Q1 revenues of $3.52B, up 8% reported (3% operational), with adjusted EBITDA rising 14% reported to $1.05B and U.S. GAAP net earnings of $176M versus a $3B loss. The company launched Effexor in Japan for GAD, advanced pipeline milestones and reaffirmed over $2.5B cash available for 2026 deployment.
1. First-Quarter 2026 Financial Results
In Q1 2026, Viatris generated total revenues of $3.517 billion, an 8% reported (3% operational) year-over-year increase. Adjusted EBITDA climbed 14% reported (10% operational) to $1.0495 billion, and U.S. GAAP net earnings turned positive at $176.4 million versus a $3.04 billion loss a year earlier. U.S. GAAP gross margin narrowed to 32.9% from 35.7%, while adjusted gross margin edged up to 56.0%. Operating cash flow was $388.3 million, with free cash flow of $348.4 million after $39.9 million in capital expenditures.
2. Regional and Product Growth
Greater China sales surged 22% reported (18% operational) to $680.1 million. Developed markets revenues rose 7% to $2.0208 billion, and emerging markets grew 3% to $535.4 million. Branded product net sales increased 10% reported to $2.3325 billion (4% operational), while generics sales rose 5% reported to $1.1772 billion (1% operational).
3. Pipeline Advancements and Capital Allocation
Viatris launched Effexor for generalized anxiety disorder in Japan and progressed multiple near-term pipeline catalysts. The company reaffirmed an expectation of over $2.5 billion in cash available for deployment during 2026 under its balanced capital allocation framework and maintained full-year financial guidance.
