Viatris acquires Oyster Point Pharma and Famy Life Sciences for $700-750M to create ophthalmology franchise

Viatris Inc

Aggregate purchase price $700-750M cash; Oyster Point at $11/share upfront plus up to $2 CVR; expects Q1 2023 close.
Sees combined ops adding at least $1B net sales and $500M adj. EBITDA by 2028; expects acquisitions to be adjusted EPS accretive in 2023.
Reaffirms total pre-tax proceeds from Biocon Biologics and non-core asset divestitures up to ~$9B; plans $1B stock repurchase program in 2023.
Provides 2024-2028 financial targets: total revenue CAGR ~3%, adj. EBITDA CAGR ~4-5%, adj. EPS CAGR ~mid-teens.
Ophthalmology division to be led by current Oyster Point CEO Jeff Nau upon closing.

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