With a market cap of $14.8 billion, Viatris Inc. (VTRS) is a global pharmaceutical company formed in 2020 through the merger of Mylan and Upjohn, a former Pfizer division. Headquartered in Canonsburg, Pennsylvania, Viatris focuses on providing access to a broad range of medicines, including branded, generic, and over-the-counter drugs, as well as complex biologics and biosimilars. The company operates across multiple therapeutic areas, including cardiovascular, infectious diseases, oncology, and central nervous system disorders.

Companies valued at over $10 billion are typically classified as “large-cap stocks,” and Viatris fits the label perfectly with its market cap exceeding this threshold. VTRS benefits from a diverse product portfolio, global distribution, strong generics and biosimilars presence, vertical integration, and cost optimization efforts, positioning it as a competitive player in the pharmaceutical industry.

But it’s not all sunshine and rainbows for VTRS. It is currently trading nearly 35.7% below its 52-week high of $13.55, reached on Nov. 23. Shares of this healthcare company have dwindled 30.2% over the past three months, a steep drop compared to the broader Invesco Nasdaq Biotechnology ETF’s (IBBQ) 2.6% decline during the same time frame.

Looking at the broader trend, VTRS has fallen 27.1% over the past year, significantly underperforming IBBQ’s 4.5% gain. In the past six months, however, VTRS has dropped 24.6%, a sharper decline than IBBQ’s 10.6% loss.

Technically, the stock remains in a downtrend, having traded below its 50-day moving average since early January and its 200-day moving average since mid-January.

On Feb. 27, Viatris reported disappointing Q4 results, with both earnings and revenue missing analyst expectations. Total revenues fell 8% year over year to $3.52 billion, below the expected $3.62 billion, driven by weak performance in developed and emerging markets, although Greater China saw a slight growth. 

The company also faced regulatory challenges at its Indore, India facility, which led to an expected $500 million revenue loss and $385 million EBITDA impact in 2025. Additionally, Viatris lowered its guidance for 2025, projecting total revenues between $13.5 billion and $14 billion. As a result, VTRS shares plummeted 15.2% after the quarter earnings release.

Viatris has trailed its key competitor, Perrigo Company plc (PRGO), which fell 12.9% over the past year but gained 9.3% in the last six months.

Despite this recent outperformance, analysts remain cautious. Of the seven analysts covering the stock, the consensus rating is “Hold,” with a mean price target of $11.61, implying a potential 33.3% upside from current levels.