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Viatris Q1 EPS Beats Estimates, Revenues up 8% Driven by Greater China
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Key Takeaways
VTRS reported Q1 adjusted EPS of 59 cents and revenues of $3.5 billion, topping estimates.
Greater China sales jumped 22%, while Brands revenues rose 10% led by Lipitor and Norvasc.
Viatris reaffirmed 2026 guidance and expects $450-$550M in new generic product revenues.
Viatris Inc. (VTRS - Free Report) delivered first-quarter 2026 adjusted earnings per share (EPS) of 59 cents, which comfortably beat the Zacks Consensus Estimate of 52 cents. The company recorded adjusted EPS of 50 cents in the year-ago quarter.
Total revenues were $3.5 billion, which rose 8% year over year (3% on an operational basis) and beat the Zacks Consensus Estimate of $3.35 billion.
The top line included product sales and other revenues.
VTRS’ shares have gained 28.1% year to date against the industry’s 11.7% decline.
Image Source: Zacks Investment Research
All growth rates mentioned below are on a year-over-year basis.
VTRS’ Q1 Sales in Detail
Sales totaled $3.5 billion, up 8% year over year. Sales were up 3% on an operational basis (constant currency percentage changes).
The company reported under four segments — Developed Markets, Emerging Markets, Japan, Australia and New Zealand (“JANZ”), and Greater China.
Sales from Developed Markets amounted to $2 billion, up 7% on a reported basis and up 1% on an operational basis. The reported figure beat the Zacks Consensus Estimate of $1.96 billion.
Sales from Emerging Markets totaled $535.4 million, up 3%. The figure missed the Zacks Consensus Estimate of $571 million. JANZ generated sales of $273.4 million, down 1% on a reported basis and down 2% on an operational basis. Sales beat the Zacks Consensus Estimate of $256 million.
Sales from Greater China totaled $680.1 million, up 22% on a reported basis and up 18% on an operational basis. The figure beat the Zacks Consensus Estimate of $589 million.
Based on product category, revenues from Brands increased 10% to $2.3 billion. On an operational basis, sales rose 4%, reflecting strong performance in Greater China and Emerging Markets.
Lipitor sales totaled $462 million, up from $388 million from a year ago. Norvasc sales increased to $210 million from $172.3 million a year ago. Lyrica sales increased to $120.6 million from $112.6 million.
Generics, which includes diversified product forms such as extended-release oral solids, injectables, transdermals, topicals and complex generics, posted revenues of $1.18 billion, up 5% on a reported basis. On an operational change basis, sales were up 1%.
The increase in generics’ sales reflects contributions from new product launches, in addition to growth of certain products in North America, partially offset by supply constraints in the ARV business within Emerging Markets.
Viatris generated $71 million in new generic product revenues and continues to expect approximately $450 million to $550 million in new product revenues in 2026.
Adjusted gross margin was 56% compared with 55.9% in the year-ago quarter.
VTRS Reaffirms 2026 Guidance
Total revenues are projected to be in the band of $14.450-$14.950 billion. Adjusted EPS is expected to be in the $2.33-$2.47 range.
Other Updates From VTRS
In March 2026, the company announced that Japan’s Ministry of Health, Labour and Welfare approved Effexor SR 37.5 mg and 75 mg capsules (venlafaxine hydrochloride), a serotonin-noradrenaline reuptake inhibitor, for the treatment of generalized anxiety disorder in adults.
Our Take on VTRS’ Q1 Performance
VTRS reported a strong start to 2026, with first-quarter results reflecting solid execution across its global operations and reinforcing management’s previously outlined growth strategy. The company highlighted continued momentum in key markets, particularly Greater China and North America, alongside progress on new product launches and advancement of its pipeline with several potential near-term catalysts.
Management also emphasized expectations for robust cash generation in 2026, which will likely support Viatris’ balanced capital allocation strategy. Backed by its strong quarterly performance, the company reiterated confidence in achieving its full-year guidance and remains focused on building a more durable, higher-quality growth profile over the long term.
Over the past 60 days, estimates for Agenus’ 2026 earnings per share have risen from 54 cents to $1.30, while loss per share estimates for 2027 have narrowed from $1.91 to $1.52 during the same time frame. AGEN shares have soared 18.1% year to date.
Agenus’ earnings beat estimates in two of the trailing four quarters and missed in the other two, with the average surprise being 31.42%.
Over the past 60 days, estimates for Liquidia’s 2026 earnings per share have decreased to $1.75 from $2.14, while those for 2027 EPS have declined to $2.91 from $3.79.
Liquidia’s earnings beat estimates in two of the trailing four quarters and missed in the other two, with the average surprise being 39.38%.
Over the past 60 days, 2026 loss per share estimates for Amarin have narrowed from $7.01 to $6.36, while the same for 2027 loss has narrowed from $5.50 to $4.64 during the same time frame. AMRN stock has risen 6.6% year to date.
Amarin's earnings beat estimates in three of the trailing four quarters and missed in the remaining one, with the average surprise being 50.02%.
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Viatris Q1 EPS Beats Estimates, Revenues up 8% Driven by Greater China
Key Takeaways
Viatris Inc. (VTRS - Free Report) delivered first-quarter 2026 adjusted earnings per share (EPS) of 59 cents, which comfortably beat the Zacks Consensus Estimate of 52 cents. The company recorded adjusted EPS of 50 cents in the year-ago quarter.
Total revenues were $3.5 billion, which rose 8% year over year (3% on an operational basis) and beat the Zacks Consensus Estimate of $3.35 billion.
The top line included product sales and other revenues.
VTRS’ shares have gained 28.1% year to date against the industry’s 11.7% decline.
Image Source: Zacks Investment Research
All growth rates mentioned below are on a year-over-year basis.
VTRS’ Q1 Sales in Detail
Sales totaled $3.5 billion, up 8% year over year. Sales were up 3% on an operational basis (constant currency percentage changes).
The company reported under four segments — Developed Markets, Emerging Markets, Japan, Australia and New Zealand (“JANZ”), and Greater China.
Sales from Developed Markets amounted to $2 billion, up 7% on a reported basis and up 1% on an operational basis. The reported figure beat the Zacks Consensus Estimate of $1.96 billion.
Sales from Emerging Markets totaled $535.4 million, up 3%. The figure missed the Zacks Consensus Estimate of $571 million.
JANZ generated sales of $273.4 million, down 1% on a reported basis and down 2% on an operational basis. Sales beat the Zacks Consensus Estimate of $256 million.
Sales from Greater China totaled $680.1 million, up 22% on a reported basis and up 18% on an operational basis. The figure beat the Zacks Consensus Estimate of $589 million.
Based on product category, revenues from Brands increased 10% to $2.3 billion. On an operational basis, sales rose 4%, reflecting strong performance in Greater China and Emerging Markets.
Lipitor sales totaled $462 million, up from $388 million from a year ago. Norvasc sales increased to $210 million from $172.3 million a year ago. Lyrica sales increased to $120.6 million from $112.6 million.
Generics, which includes diversified product forms such as extended-release oral solids, injectables, transdermals, topicals and complex generics, posted revenues of $1.18 billion, up 5% on a reported basis. On an operational change basis, sales were up 1%.
The increase in generics’ sales reflects contributions from new product launches, in addition to growth of certain products in North America, partially offset by supply constraints in the ARV business within Emerging Markets.
Viatris generated $71 million in new generic product revenues and continues to expect approximately $450 million to $550 million in new product revenues in 2026.
Adjusted gross margin was 56% compared with 55.9% in the year-ago quarter.
VTRS Reaffirms 2026 Guidance
Total revenues are projected to be in the band of $14.450-$14.950 billion. Adjusted EPS is expected to be in the $2.33-$2.47 range.
Other Updates From VTRS
In March 2026, the company announced that Japan’s Ministry of Health, Labour and Welfare approved Effexor SR 37.5 mg and 75 mg capsules (venlafaxine hydrochloride), a serotonin-noradrenaline reuptake inhibitor, for the treatment of generalized anxiety disorder in adults.
Our Take on VTRS’ Q1 Performance
VTRS reported a strong start to 2026, with first-quarter results reflecting solid execution across its global operations and reinforcing management’s previously outlined growth strategy. The company highlighted continued momentum in key markets, particularly Greater China and North America, alongside progress on new product launches and advancement of its pipeline with several potential near-term catalysts.
Viatris Inc. Price, Consensus and EPS Surprise
Viatris Inc. price-consensus-eps-surprise-chart | Viatris Inc. Quote
Management also emphasized expectations for robust cash generation in 2026, which will likely support Viatris’ balanced capital allocation strategy. Backed by its strong quarterly performance, the company reiterated confidence in achieving its full-year guidance and remains focused on building a more durable, higher-quality growth profile over the long term.
VTRS’ Zacks Rank & Stocks to Consider
Viatris currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the biotech sector are Agenus (AGEN - Free Report) , Liquidia Corporation (LQDA - Free Report) , and Amarin (AMRN - Free Report) , each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 60 days, estimates for Agenus’ 2026 earnings per share have risen from 54 cents to $1.30, while loss per share estimates for 2027 have narrowed from $1.91 to $1.52 during the same time frame. AGEN shares have soared 18.1% year to date.
Agenus’ earnings beat estimates in two of the trailing four quarters and missed in the other two, with the average surprise being 31.42%.
Over the past 60 days, estimates for Liquidia’s 2026 earnings per share have decreased to $1.75 from $2.14, while those for 2027 EPS have declined to $2.91 from $3.79.
Liquidia’s earnings beat estimates in two of the trailing four quarters and missed in the other two, with the average surprise being 39.38%.
Over the past 60 days, 2026 loss per share estimates for Amarin have narrowed from $7.01 to $6.36, while the same for 2027 loss has narrowed from $5.50 to $4.64 during the same time frame. AMRN stock has risen 6.6% year to date.
Amarin's earnings beat estimates in three of the trailing four quarters and missed in the remaining one, with the average surprise being 50.02%.