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VIATRIST Viatris Inc. Reports Strong First Quarter 2021 Financial Results , Reaffirms 2021 Guidance and Announces Inaugural Quarterly Dividend May 10 , 2021 PITTSBURGH , May 10 , 2021 / PRNewswire / -- • Reports First Quarter 2021 Financial Results - Total Revenue of $ 4.4 billion , U.S. GAAP net loss of $ 1.0 billion , Adjusted EBITDA of $ 1.6 billion , U.S. GAAP net cash provided by operating activities of $ 849 million , Free cash flow of $ 799 million • Board of Directors Declares a Quarterly Dividend of Eleven Cents ( $ 0.11 ) per Share • Generates $ 163 Million in New Product Revenue in the First Quarter • Continues Solid Progress in Advancing Key Pipeline Programs • Remains on Track to Achieve Approximately $ 500 Million in Synergies in 2021 • Reaffirms Financial Guidance for 2021 Viatris Inc. ( NASDAQ : VTRS ) today reported results for the first quarter of 2021 , which demonstrate the strength of its differentiated operating platform and commercial capabilities , its broad and diverse product portfolio and its strong R & D platform . Viatris also announced that its Board of Directors declared a quarterly dividend of eleven cents ( $ 0.11 ) for each issued and outstanding share of the company's common stock . The dividend is payable on June 26 , 2021 to stockholders of record at the close of business on May 24 , 2021 . Executive Comments Michael Goettler , Chief Executive Officer stated : " Our strong first - quarter performance across revenue , adjusted EBITDA and free cash flow highlights the diversified and robust business profile that differentiates Viatris as a company . 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 . " Rajiv Malik , President , stated : " We are off to a strong start to the year as we successfully execute on our 2021 business plan priorities – manage our base business , deliver on our new launches , integrate and synergize . Our broad - based , diverse global portfolio drove strong quarterly performance across all four segments and all three product categories . We remain confident in our ability to optimize the one - of - a - kind platform we have built . We are encouraged that our new product launches delivered revenue of $ 163 million for the quarter and remain on track to meet our $ 690 million target in new product launch revenue for the year . We are also on track to realize approximately $ 500 million of cost synergies this year . " Sanjeev Narula , Chief Financial Officer , stated : " I am pleased with our strong execution in the quarter and our focused delivery of our financial commitments , including the declaration of our inaugural quarterly dividend and the enhanced disclosures with which we are reporting our results . During the first quarter , we generated $ 799 million of free cash flow , primarily driven by solid net cash provided by operating activities and the timing of spend . We remain focused on our capital allocation priorities and maintaining our investment grade credit rating . " Financial Summary ( Unaudited ; in millions , except per share amounts and % s ) Total Net Sales Developed Markets Emerging Markets JANZ Greater China Net Sales by Product Category Brands Complex Gx and Biosimilars Generics U.S. GAAP Gross Profit Three Months Ended March 31 , Combined Combined LOE Adjusted Adjusted Reported Operational Operational 2021 2020 Change ( 1 ) Change ( 2 ) ( 3 ) Change ( 2 ) ( 3 ) $ 4,400.1 $ 2,588.2 70 % ( 6 ) % ( 2 ) % 2,571.6 1,986.4 29 % ( 5 ) % ( 5 ) % 754.7 343.5 120 % ( 5 ) % ( 5 ) % 481.9 243.2 98 % ( 25 ) % 14 % 591.9 15.1 nm 9 % 9 % $ 2,724.6 $ 1,061.5 157 % ( 8 ) % ( 1 ) % 328.9 1,346.6 253.3 1,273.4 30 % 27 % 27 % 6 % ( 8 ) % ( 8 ) % $ 1,127.3 $ 906.1 24 %