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PITTSBURGH - Viatris Inc. (NASDAQ:VTRS), a global healthcare company with annual revenues of $14.3 billion and currently identified as undervalued according to InvestingPro analysis, announced today the successful results of its Phase 3 LYNX-2 trial for MR-142, a treatment aimed at improving night vision in patients with keratorefractive conditions. The trial, which was conducted under a Special Protocol Assessment with the U.S. Food and Drug Administration (FDA), showed that MR-142 significantly improved Mesopic Low Contrast Distance Visual Acuity (mLCVA) compared to a placebo.
The double-masked study included 199 patients who were randomized to receive either the MR-142 ophthalmic solution or a placebo, administered nightly for six weeks. The primary endpoint was a ≥15-letter gain in mLCVA, which more patients achieved in the MR-142 group by Day 15. Additionally, patient-reported benefits in night driving were observed, with a reduction in difficulty seeing due to oncoming headlights and glare at dawn or dusk.
MR-142 has been granted Fast Track designation by the FDA for its potential to treat significant chronic night driving impairment and related conditions in keratorefractive patients. This designation could expedite the development and review of the drug, which currently has no FDA-approved alternatives.
The safety profile of MR-142 was consistent with previous studies, and no new safety concerns were identified. Furthermore, no evidence of tachyphylaxis, or diminishing response to the treatment, was observed throughout the six-week period. With an EBITDA of $4.2 billion and a strong free cash flow yield of 18%, Viatris maintains a robust financial position to support its drug development initiatives. According to InvestingPro data, analysts have set price targets ranging from $8 to $14 for the stock.
Viatris executives expressed confidence in MR-142’s potential to address the unmet need for treatments improving functional vision in low-contrast environments, such as night driving. The company plans to leverage its existing infrastructure to bring this product to market, pending regulatory approval.
A second pivotal study, LYNX-3, is expected to commence soon, with results anticipated in the first half of 2026. Meanwhile, patients from the LYNX-2 trial will be monitored for long-term safety over a 48-week period.
This report is based on a press release statement from Viatris Inc. detailing the LYNX-2 trial outcomes. For a comprehensive analysis of Viatris’s financial health, growth prospects, and detailed valuation metrics, investors can access the full Pro Research Report available on InvestingPro, which covers over 1,400 US stocks with expert insights and actionable intelligence.
In other recent news, Viatris Inc. announced its first-quarter earnings for 2025, showing a slight miss on both earnings per share (EPS) and revenue compared to analysts’ expectations. The company reported an EPS of $0.50, falling short of the anticipated $0.51, while revenue came in at $3.25 billion, missing the $3.33 billion forecast. Despite these shortfalls, the market response was positive, with Viatris reaffirming its full-year outlook and expecting stronger performance in the latter half of the year. The company is focusing on strategic initiatives and new product developments, which are expected to drive future growth.
Furthermore, Viatris experienced a 2% year-over-year decline in total revenues, largely due to a $140 million impact from its Indoor facility. Excluding this, operational revenue would have increased by 2%. The company also recorded a non-cash goodwill impairment charge of $2.9 billion. Analysts from firms like JPMorgan and Piper Sandler have been inquiring about Viatris’ strategic direction and potential impacts of tariffs on its operations. Viatris continues to prioritize returning capital to shareholders, having already repurchased over $300 million worth of shares this year.
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