Viatris Inc. (NASDAQ:VTRS) Q2 2023 Earnings Call Transcript

And we have raised our voice to highlight those concerns to FDA. But having said that, we have always taken these products into the consideration while doing the modeling for the out years from 2024, and 2025. We knew there will be other dosage forms there, but there will be always a place for an emergency use products like EpiPen, which has been there in the market. So, yes. It’s a market which is going to evolve, and we are watching it very carefully and closely.

Operator: Thank you. We’ll take our next question from Umer Raffat with Evercore.

Umer Raffat: Hi guys, thanks for taking my question. Scott, I remember during your closing time at Celgene, you were spending a lot of time on ozanimod commercial planning, and I’m sure you’ve taken a fresh look at Viatris expectations on the monthly Glatiramer Acetate the Copaxone. Do you think it is a less than $500 million product? And also, and this may not be a popular question. The sheer amount of time the divestitures are taking, it’s just odd, especially given a lot of the closures, and so I think the Street would really appreciate just finding out what’s going on, why is it taking as long as it is and when does it come to a closure on that?

Scott Smith: So, thank you, Umer. Second question first. I think we expect to announce all three divestitures in 2023, and we expect to announce a significant one — at least one in the third quarter, you know it’s complex transactions, sometimes to make sure you’re doing the right thing, getting the right partnerships and I don’t think where delays on very, very happy with the progress that we’re making on all these divestitures and very excited that we’ll be getting these done and announced or at least announced in 2023. And again for me, the important thing here is, these divestitures represent an ability of cash bonus and the ability for us to be able to get to our desired leverage ratios and then move into Phase 2 of the strategy and beyond in 2024 look for execution of our capital allocation strategies.

In terms of MF, I will say, yes, it is the — a lot of commercial planning for ozanimod and I’ve been involved in the MS Market. In other ways before, and I will just say without getting into specific — guiding to any specific number, I think this is a great asset, it’s going to have the very significant potential, not only for its ability to reduce injections, but also because of the clinical data that’s being generated here and maybe I’d ask Rajiv to dig in a little bit more on the launch.

Rajiv Malik: No, Scott. I would just say that we are very excited with this clarity about the PDUFA date and launch. And I will just reiterate that this product offers the safe effective treatment for RMS with a preference schedule and with fewer injection site reactions than other GA Depot or other GA products, and expected to improve the compliance and overall patient experience and patient satisfaction. So, we look forward to bringing this product to the market.

Sanjeev Narula: And Omer, one other point I would just go back to the divestiture — this is Sanjeev, go back to the divestiture point and we’ve said that it’s a matter of strategic choice. These are well-performing assets and we want to make sure we do it in the right way and to get the best value for the company, because we’re able to meet our financial commitments we’ve laid it out without these divestitures. What the divestitures do as Scott pointed out, accelerate what we’re trying to do, but we are well-positioned as a company even without the divestitures with everything that is going in the financial outlook of the company.

Operator: Thank you. We’ll take our next question from Balaji Prasad with Barclays.