Viatris (VTRS) · Q2 2026 results and valuation

At −4.2% growth a year (3-year revenue growth), the model's fair value is $1.98 a share — the stock trades 962% above it. Today's price assumes 7.6% growth a year.

1. Guidance

   The company expects top line results for the program in the first half of 2027 after completing Phase III enrollment.

   Source quote

   “This program has completed Phase III enrollment, and we expect top line results in the first half of 2027.”

2. Guidance ↑

   VTRS raised its outlook for the remainder of the year because the Q2 2026 results gave the company confidence in its performance.

   Source quote

   “Just as importantly, these results give us confidence to raise our outlook for the remainder of the year.”

3. Figure

   VTRS reported $3.8 billion in total revenues for the second quarter, representing 3.5% operational revenue growth year-over-year.

   Source quote

   “In the second quarter, we delivered $3.8 billion in total revenues, representing 3.5% operational revenue growth year-over-year, adjusted EBITDA of $1.2...”

4. Fading

   VTRS presented 6 abstracts at the ACOG meeting and reported a PDUFA goal date of July 30, 2026, for its ophthalmic solution.

   Source quote

   “Most recently, at ACOG, the American College of Obstetricians and Gynecologists Annual Meeting, we presented 6 abstracts, including positive results... ...the expected PDUFA goal date of July 30, 2026, and continue to see strong engagement at key medical congresses. Within our eye care portfolio, the phentolamine ophthalmic solution Phase III data for the treatment of presbyopia has been presented at multiple congresses and...”

Script and answers carried a similar tone, so the script's message held up under questioning.

Sentences that drove the tone

“Beyond these opportunities, our Phase III programs for selatogrel and cenerimod remain on track with important readouts expected in 2027, which, if successful, we believe will represent meaningful long-term blockbuster...”

“These results exceeded our expectations and reflect the strong momentum across our businesses and continued improvement in operating leverage.”

“As we prepare for our next phase of growth, we're prioritizing our capital, talent and resources toward the opportunities we believe offer the greatest long-term growth potential.”