Viatris to divest some businesses for nearly £3 billion - 0 views
-
pharmacybiz on 03 Oct 23Drugmaker Viatris said on Sunday (October 1) it had reached agreements to divest some of its businesses for a total of about £2.9 billion. Viatris said its move to divest some of its businesses is part of its long-term strategy to streamline focus on three core therapeutic areas - ophthalmology, gastroenterology and dermatology. The company has received an offer of about $2.17 billion (£1.78 billion) for almost all of its over-the-counter drug business from France-based Cooper Consumer Health. Viatris will retain rights for erectile dysfunction drug Viagra, nasal spray Dymista and select OTC drugs within certain markets. Separately, the drugmaker said it has agreed to sell its women's healthcare business to Spanish pharmaceutical company Insud Pharma, while its active pharmaceutical ingredients business in India will be sold to Iquest Enterprises. Both divestitures would result in about $1.2 billion (£987 million) in proceeds.