Viatris Stock Gains 15% On Quarterly Results, Two Acquisitions

Shares of Viatris Inc. (VTRS) are gaining nearly 15% on Monday after reporting its third-quarter results and announcing two acquisitions.

VTRS is currently trading at $11.12, up $1.42 or 14.64%, on the Nasdaq, on a volume of 21 million, above average volume of 10 million shares. The stock opened its trading at $10.34 after closing Friday's trading at $9.70. The stock has traded between $8.42 and $15.60 in the past 52-week period.

Third-quarter net earnings were $354.3 million or $0.29 per share, up from $311.5 million or $0.26 per share last year. Adjusted net earnings were $1.06 billion, compared to $1.20 billion last year. Net sales slipped 10% to $4.07 billion from $4.52 billion last year.

Viatris also reached a deal buy Oyster Point Pharma and Famy Life Sciences for an aggregate of $700-$750 million in cash. The company expects to close the deals in first quarter of 2023.

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