Viatris names D’Amelio, Severino to board as two retire

PITTSBURGH - Viatris Inc. (NASDAQ:VTRS), a global healthcare company with a market capitalization of $10.3 billion and annual revenue of $14.7 billion, today announced the appointment of Frank D’Amelio and Michael Severino, M.D., to its Board of Directors as part of its board refreshment process. According to InvestingPro analysis, the company appears undervalued based on its Fair Value metrics. Concurrently, the company disclosed the retirement of board members Rajiv Malik and Harry Korman at the end of their terms in December after the 2025 Annual Meeting of Shareholders.

Frank D’Amelio, with a 20-year tenure as Executive Vice President & CFO at Pfizer, brings extensive experience in corporate finance and operations. His previous roles include various senior positions at Alcatel-Lucent, S.A., and AT&T, Inc. D’Amelio also holds board positions at several companies and serves as a Strategic Advisor for Formation Bio.

Michael Severino’s background includes his current role as CEO of Tessera Therapeutics, Inc., and CEO-Partner at Flagship Pioneering. Previously, he held executive positions at AbbVie Inc., including Vice Chairman and President, and spent a decade at Amgen Inc. in leadership roles. Severino also serves on the board of several healthcare companies.

Melina Higgins, Chair of Viatris’ Board of Directors, expressed confidence in the appointments, highlighting the significant industry and executive experience D’Amelio and Severino bring to the board. CEO Scott A. Smith echoed this sentiment, anticipating the new members’ contributions to the company’s vision and executive management.

Malik and Korman’s impending retirements mark the end of their significant contributions to Viatris. Malik reflected on his impactful tenure, while Korman remarked on the company’s evolution from a single-country operation to a global entity serving approximately 1 billion patients annually. The company maintains a strong financial position, offering a substantial 5.55% dividend yield to shareholders, with management actively pursuing share buybacks.

Viatris, headquartered in the U.S. with global centers in Pittsburgh, Shanghai, and Hyderabad, India, aims to bridge the divide between generics and brands, providing access to high-quality medicines worldwide.

This announcement is based on a press release statement from Viatris Inc. and includes forward-looking statements regarding the company’s future, subject to risks and uncertainties that could cause actual results to differ materially from those projected. With earnings scheduled for May 8, 2025, investors seeking deeper insights can access comprehensive analysis and additional ProTips through InvestingPro’s detailed research reports, which offer exclusive financial metrics and expert perspectives on over 1,400 US stocks.

In other recent news, Viatris Inc. has submitted applications to Japan’s Ministry of Health, Labor and Welfare for the approval of Effexor SR Capsules to treat adults with generalized anxiety disorder. This development follows a successful Phase 3 study in Japan demonstrating the drug’s effectiveness. Additionally, Viatris has appointed Hemanth J. Varghese as the new Chief Strategy Officer, aiming to bolster the company’s strategic initiatives. In a separate development, Viatris has reached a $335 million settlement framework to resolve opioid-related claims in the United States, which will be paid over nine years. This settlement is not an admission of wrongdoing but aims to support state and local opioid-related initiatives.

On the financial front, Jefferies has adjusted its price target for Viatris stock to $13, maintaining a Buy rating, despite some challenges impacting revenue and EBITDA. Piper Sandler also revised its price target to $10, maintaining a neutral stance due to operational challenges at Viatris’ Indore facility and a lack of clear growth catalysts. These analyst perspectives reflect ongoing concerns and optimism about Viatris’ operational performance and strategic direction.

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