Viatris Reaffirms FY21 Revenue Outlook, Declares Dividend - Quick Facts

(RTTNews) - While reporting financial results for the first quarter on Monday, healthcare company Viatris Inc. (VTRS) reaffirmed its total revenue guidance for the full-year 2021.

For fiscal 2021, the company continues to project total revenue between $17.2 billion and $17.8 billion. On average, 13 analysts polled by Thomson Reuters expect the company to report revenues of $17.50 billion.

The company also said its Board of Directors declared a quarterly dividend of $0.11 for each issued and outstanding share of the company's common stock, payable on June 26, 2021 to stockholders of record at the close of business on May 24, 2021.

"We see underlying strength in our business and we are reaffirming guidance for 2021, which incorporates known and potential headwinds and tailwinds for the remainder of the year. At the conclusion of the second quarter, we will be reassessing our guidance for the full year," said Michael Goettler, CEO.

The company noted that it is encouraged that their new product launches delivered revenue of $163 million for the quarter and remain on track to meet the $690 million target in new product launch revenue for the year. It is also on track to realize approximately $500 million of cost synergies this year.