Company thanks Sanjeev
Narula for his role in the successful execution of Viatris'
Phase 1 strategy; Narula will support a smooth CFO transition prior
to his departure on March 1,
2024
PITTSBURGH, Dec. 15,
2023 /PRNewswire/ -- Viatris Inc. (NASDAQ:
VTRS), a global healthcare company, today announced that, as
it prepares to enter Phase 2 of its strategic plan, Theodora
"Doretta" Mistras has been appointed Chief Financial Officer (CFO)
effective March 1, 2024, and
Philippe Martin has been appointed
Chief R&D Officer with immediate effect.
Current Viatris CFO Sanjeev
Narula, who helped the company successfully execute its
Phase 1 strategy, will work closely with Mistras to support a
smooth transition and will then depart the company on March 1, 2024.
Doretta Mistras
Mistras, an accomplished healthcare financial executive with
deep industry knowledge and vast experience across the spectrum of
healthcare, was most recently Managing Director, Healthcare
Investment Banking at Citigroup Global Markets and prior to that
was Managing Director, Healthcare Investment Banking at Goldman
Sachs. She has almost two decades of leadership, advisory and
capital markets experience helping guide corporate boards and
leadership teams on matters affecting corporate strategy, including
business development, financial planning, corporate finance and
investor relations.
Mistras has also advised leading healthcare corporations on a
multitude of important financial and strategic decisions, including
M&A, joint ventures, and capital market transactions totaling
over $240 billion in aggregate
value.
Scott A. Smith, Chief Executive
Officer of Viatris, said, "As we continue our preparations for
Phase 2 of our strategy, I am extremely pleased to have Doretta
coming on board as my strategic financial partner for what I expect
to be an extremely successful next phase for Viatris. With her deep
healthcare industry knowledge and extensive finance experience
within all sectors of healthcare, as well as her capital markets
and investor relations expertise, Doretta is the perfect fit for
the exciting future we are continuing to build. Her impressive
profile, combined with our existing high-performing and seasoned
corporate finance team will create what I believe will be one of
the strongest financial organizations in our industry."
Mistras said, "I could not be more excited to have the
opportunity to join Viatris as Chief Financial Officer and to
partner with Scott and the entire management team on all of the
exciting opportunities ahead as the company sets sail into an
expected period of expanded growth. Having known this company for
years as a healthcare industry strategic advisor and having worked
with public companies across the healthcare landscape, I know well
the unique value proposition that Viatris presents, as well as the
importance of upholding its well-established and communicated
capital allocation plan. I look forward to combining my areas of
expertise with the strong financial foundation and team that the
company already has in place to not only deliver but enhance
shareholder value."
Sanjeev Narula said, "It has been
my incredible honor to have had the opportunity to play a part in
the successful set-up phase for Viatris and to lead its first-class
group of finance professionals. I cannot thank the company and its
leadership enough for the opportunity and especially my team and
all of the members of the Viatris family for their consistent
performance and overall dedication to our mission. I am extremely
proud of all that we have accomplished together and look forward to
working closely with Doretta during this transition phase to ensure
both her and the company's continued long-term success."
Added Smith, "On behalf of the Board of Directors and our entire
company, I sincerely thank Sanjeev
Narula for his tremendous service and dedication to Viatris.
His financial expertise played an important role in building and
enhancing the company's strong foundation. He leaves Viatris with
an extremely strong finance team in place to support Doretta and
the entire company as we move forward. We wish him nothing but the
best as he prepares to begin his next chapter."
Philippe Martin
As Chief R&D Officer, Martin brings with him significant
innovative product development experience across R&D,
Scientific and Regulatory Affairs, including at Celgene, where he
led the development and global registration of the blockbuster
drugs Otezla® and Zeposia®. He also oversaw the company pipeline in
early and late development across multiple indications and
modalities in the fields of inflammation and immunology, neurology,
oncology, hepatology, and gastroenterology, including planning and
overseeing the successful execution of large Phase III clinical
studies. Prior to his tenure at Celgene, Martin held multiple
positions at Schering-Plough (acquired by Merck) where he managed
the inflammation and immunology franchise, including the anti-TNF
alpha collaboration with Centocor/Johnson & Johnson which
included the worldwide development, approval, and commercialization
of Remicade® and Simponi®.
Added Smith, "I am very pleased to have Philippe join Viatris as
Chief R&D Officer. As we continue our move up the value chain,
I expect his significant innovative product experience to play an
important role in partnering with me to assess and then execute
upon the exciting new product development assets I see ahead,
adding to our very strong existing base business and
pipeline."
Martin added, "I have been thoroughly impressed by the existing
R&D expertise and infrastructure I have seen at Viatris that
fuels the consistent output of its pipeline, especially as it
relates to complex generics. I am excited to add my expertise to
this very strong foundation, especially in the innovative product
space."
About Viatris
Viatris Inc. (NASDAQ: VTRS) is a global healthcare
company uniquely positioned to bridge the traditional divide
between generics and brands, combining the best of both to more
holistically address healthcare needs globally. With a mission to
empower people worldwide to live healthier at every stage of life,
we provide access at scale. In 2022 alone, we supplied high-quality
medicines to approximately 1 billion patients around the world.
With our exceptionally extensive and diverse portfolio of
medicines, a one-of-a-kind global supply chain designed to reach
more people when and where they need them, and the scientific
expertise to address some of the world's most enduring health
challenges, access takes on deep meaning at Viatris. We have the
ability to touch all of life's moments, from birth to end of life,
acute conditions to chronic diseases. We are headquartered in the
U.S., with global centers
in Pittsburgh, Shanghai and Hyderabad,
India. Learn more
at viatris.com and investor.viatris.com,
and connect with us on Twitter
at @ViatrisInc, LinkedIn, Instagram and YouTube.
Forward-looking Statements
This press release includes statements that constitute
"forward-looking statements." These statements are made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Such forward looking statements may include
statements about the Company's strategic plans; future performance;
opportunities for expanded growth; the unique value proposition
that Viatris presents; the Company's capital allocation plan;
enhancing shareholder value; and moving up the value chain. Because
forward-looking statements inherently involve risks and
uncertainties, actual future results may differ materially from
those expressed or implied by such forward-looking statements.
Factors that could cause or contribute to such differences include,
but are not limited to: actions and decisions of healthcare and
pharmaceutical regulators; changes in healthcare and pharmaceutical
laws and regulations in the U.S. and abroad; any regulatory, legal
or other impediments to Viatris' ability to bring new products to
market, including but not limited to "at-risk" launches; Viatris'
or its partners' ability to develop, manufacture, and commercialize
products; the possibility that Viatris may be unable to realize the
intended benefits of, or achieve the intended goals or outlooks
with respect to, its strategic initiatives; the possibility that
Viatris may be unable to achieve expected benefits, synergies and
operating efficiencies in connection with acquisitions,
divestitures, or its global restructuring program, within the
expected timeframe or at all; impairment charges or other losses
related to the divestiture or sale of businesses or assets;
Viatris' failure to achieve expected or targeted future financial
and operating performance and results; the potential impact of
public health outbreaks, epidemics and pandemics, including the
ongoing challenges and uncertainties posed by COVID-19; the scope,
timing and outcome of any ongoing legal proceedings, and the impact
of any such proceedings; any significant breach of data security or
data privacy or disruptions to our information technology systems;
risks associated with international operations; the ability to
protect intellectual property and preserve intellectual property
rights; changes in third-party relationships; the effect of any
changes in Viatris' or its partners' customer and supplier
relationships and customer purchasing patterns; the impacts of
competition; changes in the economic and financial conditions of
Viatris or its partners; uncertainties and matters beyond the
control of management, including general economic conditions,
inflation and exchange rates; failure to execute stock repurchases
consistent with current expectations; stock price volatility; and
the other risks described in Viatris' filings with the Securities
and Exchange Commission (SEC). Viatris routinely uses its website
as a means of disclosing material information to the public in a
broad, non-exclusionary manner for purposes of the SEC's Regulation
Fair Disclosure (Reg FD). Viatris undertakes no obligation to
update these statements for revisions or changes after the date of
this release other than as required by law.
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SOURCE Viatris Inc.