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Viatris (VTRS) agreed to settle $16M with investors to end claims over the misrepresentations in the Mylan merger case.

In November 2020, during the merger, Viatris issued approximately 560M new shares of $VTRS to former Mylan shareholders. 

However, Viatris was accused that its Registration Statement misled about the following facts:

Viatris exaggerated its financial health and dividend policies.

The Registration Statement didn't mention Viatris's worsening situation in China due to government-mandated price cuts.

It also didn't reveal the significant impact of generic competitors on Viatris's Lyrica sales in Japan, despite prior expectations of a delayed loss of exclusivity.

Despite the supposed misrepresentations in the Registration Statement, Viatris completed the merger. 

After that, when the truth came out, $VTRS dropped, resulting in a decline of over $1B from the offering price.

Viatris has now decided to end all allegations related to the Mylan merger by paying a $16M settlement to investors.

Viatris Inc

All persons or entities who acquired shares of Viatris, Inc. common stock in exchange for Mylan N.V. shares directly in the stock-for-stock exchange conducted pursuant to the offering materials issued in connection with the November 2020 merger of Mylan N.V. and Upjohn to form Viatris.

Do I have to sell securities to be eligible?

No, if you have purchased securities within the class period, you are eligible to participate.

You can participate in the settlement and retain (or sell) your securities.

The entire process usually takes 4 to 9 months after the claim deadline. But the exact timing depends on the court and settlement administration.

11thestate is an investor recovery company, we help investors to track and collect securities class action settlements. We will:

Audit the claim and make sure you get the maximum possible payout

File a claim with the settlement administration

Correspond with the settlement administration to resolve emerging issues

Deliver payout directly to your brokerage account

There is no upfront cost, but we will deduct 20% of the recovered amount as a commission for our services.

Accepting Late Claims

Mismanagement

Misleading Statements

Omissions

Directors

Management

Viatris (VTRS) $16M Shareholder Settlement

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Viatris Inc. operates as a healthcare company worldwide. The company operates in four segments: Developed Markets, Greater China, JANZ, and Emerging Markets. It offers prescription brand drugs, generic drugs, complex generic drugs, biosimilars, and active pharmaceutical ingredients (APIs). The company offers drugs in various therapeutic areas, including noncommunicable and infectious diseases; biosimilars in the areas of oncology, immunology, endocrinology, ophthalmology, and dermatology; and APIs for antibacterial, central nervous system agents, antihistamines/antiasthmatics, cardiovascular, antivirals, antidiabetics, antifungals, and proton pump inhibitor areas, as well as support services, such as diagnostic clinics, educational seminars, and digital tools to help patients better manage their health. It provides it medicines in the form of oral solid doses, injectables, complex dosage forms, and APIs to retail and pharmacy establishments, wholesalers and distributors, payers, insurers and governments, and institutions. The company distributes its products through pharmaceutical wholesalers/distributors, pharmaceutical retailers, institutional pharmacies, mail-order and e-commerce pharmacies, and specialty pharmacies. It sells its products under the Lyrica, Lipitor, Creon, Influvac, Wixela Inhub, EpiPen auto-injector, Fraxiparine, and Yupelri; Norvasc and Viagra; AMITIZA, Lipacreon, and Effexor; and Celebrex and ARV names, as well as glargine and SEMGLEE names. The company has collaboration and licensing agreements with Revance Therapeutics, Inc.; and Momenta Pharmaceuticals, Inc. Viatris Inc. was founded in 1961 and is headquartered in Canonsburg, Pennsylvania.

Viatris (VTRS) $16M Shareholder Settlement

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