Viatris
36 named things its latest annual report says its results depend on, each in the company's own words. 17 of them are also named by other companies we've read.
Customers
Suppliers
Matrix Pharma Private Limited
depends onnamed as a riskOur obligations under this manufacturing and supply agreement have made us more dependent on the purchaser of our API business and the success of their business, and made us more vulnerable to API supply shortages and price volatility.Risk factors (Item 1A)
Partners and platforms
Aculys Pharma
As part of this transaction, Viatris acquired exclusive development and commercialization rights in Japan for pitolisant, a selective/inverse agonist of the histamine H3 receptor.Business (Item 1)
Other companies
Pfizer
57%named as a riskIn addition, Viatris has agreed to pay Pfizer an amount equal to 57% of any losses actually incurred or suffered by Viatris, its predecessors or subsidiaries, since July 29, 2019, arising out of third-party actions relating to the manufacture, distribution, marketing, promotion or sale of opioids by or on behalf of Viatris, its predecessors or subsidiaries.Risk factors (Item 1A)
Biocon Biologics
$815 millionnamed as a riskWith respect to the Biocon Biologics Transaction, in December 2025, Viatris entered into definitive agreements with Biocon for the sale of Viatris’ equity stake in Biocon Biologics for total consideration of $815 million, consisting of $400 million in cash and $415 million in newly issued equity shares of Biocon.Risk factors (Item 1A)
Biocon Biologics
exposed to its price · approximately $163.0 millionnamed as a riskA hypothetical 20 percent decline in the fair value of these investments would have decreased the carrying value and increased other expense (income), net by approximately $163.0 million at December 31, 2025.Market risk (Item 7A)
Yen Term Loan Facility
exposed to its price · $255.2 millionnamed as a riskAs of December 31, 2025, Viatris’ outstanding variable rate borrowings consist principally of borrowings under the Yen Term Loan Facility of $255.2 million.Market risk (Item 7A)
Top ten products
concentrated in · approximately 36%named as a riskFor the years ended December 31, 2025 and 2024, Viatris’ top ten products in terms of sales, in the aggregate, represented approximately 36% and 33%, respectively, of the Company’s net sales.Risk factors (Item 1A)
Places
Indore, India manufacturing facility
operates in · 11 productsnamed as a riskThe import alert affects 11 products that will no longer be accepted into the U.S. until the warning letter is lifted.Business (Item 1)
China
operates innamed as a riskAdditional pricing and volume pressure for pharmaceutical products sold in the hospital channel is expected to continue during 2026 and could negatively impact the Company’s results of operations.Business (Item 1)
Also named by A, AA, AAOI, AAP, AAPL, AB, ADI, AEHR and 261 more
Nashik, India manufacturing facility
operates innamed as a riskManufacturing at the facility has been temporarily suspended and the Company currently expects to resume operations beginning in April 2026.Business (Item 1)
Hazards
Russia–Ukraine conflict
operates innamed as a risk•sanctions and our interpretation of those sanctions, trade controls, supply chain and staffing challenges as a result of the ongoing conflict between Russia and Ukraine that have impacted and may continue to impact our ability to market or sell pharmaceuticals in either country or subject us to increased government scrutiny, and a significant escalation or expansion of the conflict’s current scope may have a negative impact on our operations and financial results in future periods;Risk factors (Item 1A)
Also named by ABT, ADM, ARWR, CAG, CDRE, DOW, EMN, FDX and 14 more
Fire
named as a riskFor example, manufacturing at our facility in Nashik, India has been temporarily suspended due to a fire in February 2026.Risk factors (Item 1A)
Israel–Gaza conflict
operates innamed as a riskThe conflict has also impacted our and our partners’ ability to market or sell pharmaceutical products in the area, and has caused and may continue to cause other disruptions to the supply chain.Risk factors (Item 1A)
Commodities and inputs
Euro
exposed to its price · $13.72 billion notional amount of senior U.S. Dollar and Euro notesnamed as a riskAs of December 31, 2025, Viatris’ outstanding fixed rate borrowings consist principally of $13.72 billion notional amount of senior U.S. Dollar and Euro notes.Market risk (Item 7A)
Also named by ABBV, ABNB, ABT, ADBE, ADI, AME, AMG, AMGN and 186 more
Active pharmaceutical ingredients (API)
exposed to its pricenamed as a riskThe price of API and other materials and supplies is subject to volatility, including as a result of global supply chain disruptions and rates of inflation.Risk factors (Item 1A)
Regulators
U.S. Food and Drug Administration (FDA)
subject tonamed as a riskThe warning letter and import alert at our Indore facility negatively impacted our financial condition, results of operations and cash flows in fiscal year 2025, and we may not be able to fully recover these lost revenues in current or future periods.Risk factors (Item 1A)
Also named by A, ABBV, ABT, AMGN, ARE, ARWR, ATR, AXGN and 112 more
U.S. Drug Enforcement Administration (DEA)
subject tonamed as a riskAny delay or refusal by the DEA or such similar agencies in establishing our procurement quota for controlled substances could delay or stop our clinical trials or product launches, or could cause trade inventory disruptions for those products that have already been launched.Risk factors (Item 1A)
Also named by CAH, COR, DGX, DHR, HALO, HSIC, IQV, LH and 7 more
China National Healthcare Security Administration
subject tonamed as a riskIn addition, since 2018, China's National Healthcare Security Administration, in conjunction with relevant departments, has been promoting a centralized VBP policy for drugs, which has become standard practice and subjects many drugs to a competitive bidding process.Risk factors (Item 1A)
Laws and programs
China Volume-Based Procurement (VBP)
subject to · as much as 96%named as a riskMolecules subject to the VBP bidding process have seen significant price cuts, with some bidders reducing the price of their products by as much as 96% as they attempt to secure volumes on the Chinese pharmaceutical market.Risk factors (Item 1A)
Hatch-Waxman Act
subject to · 180 daysnamed as a riskIf an ANDA is awarded 180-day exclusivity, the applicant generally enjoys higher market share, net revenues, and gross margin for that generic product.Risk factors (Item 1A)
Medicare
subject tonamed as a riskChanges to Medicare and/or state Medicaid programs, or changes required in the way in which Medicare payment rates are set, the design of the Medicare Part D and Part B benefits, and/or the way Medicare or Medicaid rebates are calculated, could adversely affect the payment we receive for our products.Risk factors (Item 1A)
Also named by ABT, ARWR, AXGN, BAX, BDX, BMY, BSX, CAH and 48 more
Medicaid
subject tonamed as a riskAny failure to comply with those obligations could subject us to investigation, penalties, and sanctions.Risk factors (Item 1A)
Also named by ABBV, ABT, ARE, ARWR, BAX, BMY, BSX, CHE and 39 more
Inflation Reduction Act
subject tonamed as a riskThe implementation of the Inflation Reduction Act, including the drug price negotiation provision, inflation penalties, and Part D redesign is currently underway and could negatively affect certain Viatris portfolio products based on future pricing decisions, changes in the Consumer Price Index for All Urban Consumers (CPI-U), and the potential for shifting payor preferences based on the Part D redesign and requirements to cover drugs selected for negotiation.Risk factors (Item 1A)
Also named by AEE, AMGN, ARWR, BIIB, BKNG, BMY, CAH, CI and 26 more
U.S. Department of Veterans Affairs (VA)
subject tonamed as a riskThere can be no assurance that our submissions will not be found by Centers for Medicare & Medicaid Services or the VA to be incomplete or incorrect.Risk factors (Item 1A)
U.S. pharmaceutical tariffs
subject tonamed as a riskThe U.S. has imposed or is considering imposing tariffs on certain imports from other countries, including pharmaceutical products, ingredients and inputs, which could significantly impact our cost of doing business.Risk factors (Item 1A)
U.S. most-favored-nation drug pricing
subject tonamed as a riskRecent actions by the Administration to establish most-favored-nation drug pricing pilot programs and its entrance into most-favored-nation drug pricing agreements with our competitors, could negatively impact the financial performance of innovative pipeline products and impact the business development environment.Risk factors (Item 1A)
China Unified Reimbursement Price (URP) policy
subject tonamed as a riskURP will create additional pricing and volume pressure for pharmaceutical products that are subject to the program and is expected to negatively impact our results of operations.Risk factors (Item 1A)
China variable interest entities
subject tonamed as a riskFor example, in order to comply with foreign ownership restrictions and meet regulatory, licensing, and cybersecurity requirements, we conduct some of our business in China through variable interest entities.Risk factors (Item 1A)
China capital account currency controls
subject tonamed as a riskShould we determine the need to repatriate or convert cash held in countries that have significant restrictions or controls in place, including in China, we may be unable to repatriate or convert such cash, or be unable to do so without incurring substantial costs.Risk factors (Item 1A)
EU urban wastewater extended producer responsibility
subject tonamed as a riskFor example, as currently proposed, companies that manufacture, market, or supply pharmaceutical products will be required to pay a significant portion of the cost of upgrading public wastewater treatment plants across EU member states to treat urban wastewater to eliminate micropollutants.Risk factors (Item 1A)
Federal Drug Supply Chain Security Act
subject tonamed as a riskCompliance with these regulations has in the past and may in the future result in increased expenses for us or impose greater administrative burdens on our organization, and failure to meet these requirements could result in fines or other penalties.Risk factors (Item 1A)
Japan National Health Insurance
subject toIn Japan, the National Health Insurance regulates the pricing of pharmaceutical products to healthcare providers.Business (Item 1)
Australia Pharmaceutical Benefits Scheme
subject toMost prescription pharmaceutical products are subsidized under the pharmaceutical benefits scheme by the federal government.Business (Item 1)
Technology
Amitiza
earns fromnamed as a riskFor example, we may lose market exclusivity for Amitiza® 24 μg in Japan in June 2026.Risk factors (Item 1A)