(AOF) – Viatris is expected to fall in pre-market trading on Wall Street after the presentation of its fourth quarter results. The American pharmaceutical company posts a turnover of 3.82 billion dollars, below the average consensus of 3.87 billion, and down 1% year-on-year, with adjusted net profit of 746 million dollars down. 9% over one year. “2023 was an exceptional year for Viatris in which we achieved strong operational results,” concludes CEO Scott A Smith.
He believes he has also “streamlined the company and ended the year with a third consecutive quarter of operating revenue growth.”
Viatris is targeting a turnover of between 15.25 and 15.75 billion dollars for 2024, after 15.4 billion in 2023, with earnings per share between 2.70 and 2.85 dollars.
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Oncology, priority of pharmaceutical giants
Sanofi’s stock market disappointment recorded at the end of October 2023 underlines the new direction for the group, which has now set oncology as its number 1 priority. Efforts in this segment, where therapies are advancing the fastest, notably involve investments in R&D which weigh on profitability. Sanofi therefore announced a drop in its earnings per share in 2024 and the abandonment of its objective of an operating margin of 32% in 2025. Merck has just unveiled a new alliance. It will pay up to $22 billion to the Japanese group Daiichi Sankyo as part of a partnership on experimental cancer treatments. While some experts estimate that the United States represents nearly half of global oncology spending (drugs and treatments), or $196 billion in 2022, Chinese spending in this area has more than doubled in five years, going from 5 to 11.8 billion dollars.