In pre-market trading hours on Thursday, Viatris Inc. (VTRS) gained 3.58% to $14.74. The VTRS stock finished the last trading session at $14.23, up 2.30%. The price range for VTRS stock was between $13.8346 and $14.38. VTRS stock traded 6.73 million shares in the day, which was lower than its 100-day average of 7.82 million shares.
In the last five days, VTRS stock gained 1.21%, while it lost -1.04% last month. VTRS is currently yielding a dividend of 3.09%. A biosimilar product has recently been approved, which is making VTRS stock rise.
What VTRS product has been approved?
Viatris enables people worldwide to lead healthier lives through healthcare solutions in every stage of their lives. VTRS’ Global Healthcare Gateway connects more people to more products and services by providing access to medicines, advancing sustainable operations, developing innovative solutions, and leveraging its collective expertise.
Through VTRS stock, which was formed in November 2020, many scientific, manufacturing, and distribution experts can be combined with a wealth of regulatory, medical, and commercial experience to provide high-quality medicines across 165 countries. About 45,000 workers make up VTRS’ total workforce around the world, based mostly in Pittsburgh, Shanghai and Hyderabad, India.
The U.S. Food and Drug Administration (FDA) have approved Semglee (insulin glargine-yfgn injection) as the first interchangeable biosimilar under the 351(k) regulatory pathway, announced Biocon Biologics Ltd. and Viatris in a joint statement.
- The biosimilar product by VTRS stock became the industry’s first approved interchangeable product in the United States.
- Providers, patients, payers, and physicians will have access to important diabetes medicine via the VTRS product.
- This marks yet another significant milestone in the success of VTRS’ internal scientific capabilities.
- In identifying innovative ways to increase access to complex treatments for patients, VTRS anticipates the approval will support the company’s promising future.
- Before the end of this year, an interchangeable Semglee product will be available at the pharmacy counters for the replacement of Lantus for Semglee.
- A broad portfolio of biosimilars and insulin analogues is being developed, manufactured and commercialized by Viatris and Biocon Biologics through collaboration.
- There are exclusive commercialization rights for VTRS within the US, Canada, Australia, New Zealand, as well as the European Union and Free Trade Association of Europe.
- Japan and a few emerging markets are under the exclusive commercialization rights of Biocon Biologics.
- A co-exclusive commercialization agreement is in place between VTRS and Biocon Biologics elsewhere in the world.
What VTRS Stock plans to do in the future?
Prior to the FDA’s approval of another biosimilar interchangeable with Lantus, Viatris (VTRS) is eligible for a 12-month exclusivity period. VTRS is in the midst of commercial launch preparations. In the next few months, VTRS will transition the current product to an interchangeable 351(k) product.
