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Why Viatris Stock Rocketed Higher in May

·2 min read
Why Viatris Stock Rocketed Higher in May

Shares of the generic-drug giant Viatris (NASDAQ: VTRS) -- the offshoot of Pfizer's legacy-medicines unit UpJohn and generic-specialist Mylan -- roared higher by a healthy 14.6% during the month of May, according to data provided by S&P Global Market Intelligence . Most significantly, Viatris beat Wall Street's Q1 consensus estimate by a respectable $200 million. Viatris' shares were down by a whopping 29% year to date heading into May. Investors and analysts alike clearly weren't convinced that the company's stable of off-patent former blockbuster medicines could create value over the long term.