Viatris Inc. (NASDAQ: VTRS) shares traded near their 52-week high Wednesday, closing at $16.08 on Feb. 25, 2026, as investors positioned for the generic drugmaker's fourth-quarter and full-year 2025 earnings report due Feb. 26.

Viatris Inc
Viatris Inc

The stock rose modestly during the session, opening at $16.19 and reaching an intraday high of $16.47 before settling slightly lower. Volume reached about 9.4 million shares, in line with recent averages. Viatris has surged more than 130% from its 52-week low of $6.85, reflecting renewed confidence in its turnaround strategy, robust generics portfolio and upcoming product launches.

Market capitalization stood around $18.5 billion, with the company benefiting from a 3% dividend yield that continues to attract income-focused investors. The forward price-to-earnings ratio hovers near attractive levels, though trailing metrics show variability due to one-time items.

Viatris, formed from the 2020 merger of Mylan and Upjohn (a Pfizer division), has focused on debt reduction, operational efficiency and biosimilars growth. Executives have emphasized a multi-year strategic review, with an investor event scheduled for March 19, 2026, to outline long-term plans, pipeline updates and cost-saving initiatives.

Analysts anticipate solid Q4 results. Consensus calls for earnings per share of about $0.53 to $0.54 on revenue of roughly $3.53 billion, a slight year-over-year increase despite typical seasonal softness in some segments. The company narrowed its full-year 2025 guidance earlier, citing foreign exchange headwinds but highlighting strength in adjusted metrics.

Third-quarter 2025 results, reported in November, showed adjusted EPS of $0.67, beating estimates, though GAAP figures reflected a net loss due to non-recurring charges. Revenues held steady amid strong performance in complex generics and biosimilars.

Recent momentum stems from pipeline advancements. On Feb. 25, the FDA accepted Viatris' supplemental new drug application for MR-141 (phentolamine ophthalmic solution 0.75%) for presbyopia treatment, signaling potential entry into eye-care markets.

UBS upgraded Viatris to Buy in recent weeks, lifting its price target significantly to $18 from $11, citing a "robust drug pipeline" and expected cost savings. Upcoming launches, including fast-acting meloxicam formulations, are seen boosting margins and sales growth.

Wall Street's consensus remains mixed but leans positive. Nine analysts tracked by sources like MarketBeat rate Viatris a "Hold" overall, with five Buy ratings, two Holds and two Sells. The average 12-month price target sits around $13.63 to $14, implying some downside from current levels, though highs reach $18. Forward estimates project modest revenue growth to about $14.37 billion in 2026.

Challenges include patent expirations on key products, pricing pressures in generics and regulatory hurdles. Yet Viatris' scale — with operations in more than 165 countries and about 32,000 employees — provides diversification across branded, generics and over-the-counter segments.

The stock's recent rally aligns with broader healthcare sector trends, where value-oriented names with dividends and turnaround potential have drawn interest amid market rotations. Viatris' ability to generate free cash flow supports share repurchases and debt paydown, bolstering the balance sheet.

Investors await the Feb. 26 earnings call at 8:30 a.m. EST for insights on 2026 guidance, biosimilars pipeline progress and details on the enterprise-wide strategic review. Management has signaled optimism around complex products and emerging markets.

As Viatris approaches its earnings release, the focus remains on execution. Sustained cost discipline, successful launches and margin expansion could drive further upside, while macroeconomic factors like interest rates and currency fluctuations pose risks.

With shares at multi-year highs and a compelling yield, Viatris offers a mix of defensive qualities and growth potential in a volatile market. The coming days will test whether momentum holds post-earnings.