Viatris VTRS delivered second-quarter 2026 adjusted earnings per share of 69 cents, which beat the Zacks Consensus Estimate of 62 cents. The company reported adjusted earnings of 62 cents in the year-ago quarter.
Total revenues were $3.76 billion, up 5% year over year (4% on an operational basis), surpassing the Zacks Consensus Estimate of $3.68 billion. Growth was driven by sales in Developed Markets and a strong performance in Greater China.
All growth rates mentioned below are on a year-over-year basis.
VTRS’ Q2 Sales in Detail
Total net sales amounted to $3.75 billion, up 5% from $3.57 billion in the second quarter of 2025. Other revenues totaled $10.9 million compared with $13.1 million a year earlier.
The company reports results across four geographical segments: Developed Markets, Emerging Markets, Japan, Australia and New Zealand (JANZ) and Greater China. The quarter’s sales growth reflected gains in Developed Markets and Greater China, partly offset by declines in Emerging Markets and JANZ.
Viatris’ Regional Performance
Developed Markets generated sales of $2.19 billion, up 4% from $2.12 billion in the year-ago period. The reported figure surpassed the Zacks Consensus Estimate of $2.18 billion.
Emerging Markets sales declined 2% to $542.3 million from $555.1 million. The figure missed the consensus estimate of $558.5 million. Management attributed generics performance partly to supply constraints in the antiretroviral business within Emerging Markets.
JANZ sales totaled $296.1 million, down 3% from $305.7 million. Nonetheless, the reported figure exceeded the Zacks Consensus Estimate of $285.1 million.
Greater China remained the strongest regional contributor, with sales surging 21% to $713.8 million from $588.9 million. The figure comfortably beat the consensus estimate of $631.7 million and reflected continued strength across the company’s brands portfolio.
VTRS’ shares have gained 41.8% year to date compared with the industry’s 0.9% growth.
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VTRS’ Product Category Trends
Brands net sales increased 6% to $2.42 billion from $2.28 billion. The improvement reflected continued strength in Greater China and Emerging Markets.
Sales of Lipitor rose 17% to $452.2 million, while Norvasc sales increased 10% to $200.2 million. Viagra revenues advanced 13% to $112.9 million, and Zoloft sales climbed 17% to $71.4 million. Meanwhile, Lyrica sales declined 6% to $120.6 million. EpiPen Auto-Injectors sales declined 6% to $129.2 million in the second quarter of 2026.
Generics sales increased 3% to $1.33 billion from $1.28 billion. Growth reflected contributions from new product launches and gains across certain products in North America, partly offset by supply constraints in Emerging Markets. Viatris generated approximately $101 million in new product revenues during the quarter.
VTRS Raises 2026 Guidance
Viatris raised the lower end of its 2026 revenue guidance range following the strong first-half performance. The company now expects total revenues of $14.55-$14.95 billion compared with the previous range of $14.45-$14.95 billion. The midpoint increased to $14.75 billion from $14.70 billion.
Adjusted EPS is now projected in the range of $2.45-$2.59, up from $2.33-$2.47 previously. The midpoint rose to $2.52 from $2.40.
Viatris’ Other Q2 Updates
In July, the FDA approved Gwyn Lo, the company’s low-dose estrogen hormonal contraceptive patch. Viatris expects the product to become commercially available later in 2026.
The FDA also approved the company’s generic ferric carboxymaltose injection in three strengths (750 mg/15 mL, 1000 mg/20 mL and 100 mg/2 mL) during June. The product is a substitutable generic version of Injectafer and is indicated for the treatment of iron deficiency anemia.
Viatris also reported positive top-line results from a phase III study evaluating VR-205 (targeted-release budesonide formulation) (Nefecon) in Japanese adult patients with primary immunoglobulin A nephropathy at risk of developing end-stage renal disease. Separately, the FDA accepted for review VTRS’ new drug application for MR-107A-02 (fast-acting meloxicam), a non-opioid, to treat moderate-to-severe acute pain. A final decision is expected on Dec. 27, 2026.
Viatris Inc. Price, Consensus and EPS Surprise
Viatris Inc. price-consensus-eps-surprise-chart | Viatris Inc. Quote
Our Take on VTRS’ Q2 Performance
VTRS delivered a solid second quarter, with both earnings and revenues exceeding estimates. Greater China remained the standout region, while Developed Markets also contributed to reported sales growth. Strength across brands and contributions from new generic launches helped offset weaker results in Emerging Markets and JANZ.
The quarter also demonstrated progress across Viatris’ pipeline and product portfolio. Regulatory approvals for Gwyn Lo and generic ferric carboxymaltose, along with additional clinical and regulatory milestones, could support future product launches. Backed by the quarterly performance, management raised its 2026 financial guidance.
VTRS’ Zacks Rank & Stocks to Consider
Viatris currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the biotech sector are Harmony Biosciences HRMY, Repligen RGEN and Liquidia Corporation LQDA, each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 60 days, estimates for Harmony Biosciences’ 2026 earnings per share have risen from $3.20 to $3.33, while estimates for 2027 have increased from $3.64 to $3.87 during the same time. HRMY shares have gained 2.2% year to date.
Harmony Biosciences’ earnings missed estimates in three of the trailing four quarters and beat on the remaining occasion, delivering an average negative surprise of 13.97%.
Over the past 60 days, estimates for Repligen’s 2026 earnings per share have risen from $1.99 to $2.06, while estimates for 2027 have increased from $2.57 to $2.62 during the same time. RGEN shares have declined 3.2% year to date.
Repligen’s earnings beat estimates in each of the trailing four quarters, with the average surprise being 16.80%.
Over the past 60 days, estimates for Liquidia’s 2026 earnings per share have risen from $2.97 to $3.02, while estimates for 2027 have increased from $4.81 to $5.31 during the same time. LQDA shares have surged 158.4% year to date.
Liquidia’s earnings beat estimates in three of the trailing four quarters, while missing the same on the remaining occasion, with the average surprise being 54.40%.
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Viatris Inc. (VTRS): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).