Viatris Investors Face Skeptical Judges on Biosimilars Unit (1)

Viatris Inc. investors encountered tough questions Wednesday at the Third Circuit in their quest to revive a proposed class action over the drugmaker’s statements about its commitment to its biosimilars segment.

At least two judges on the panel expressed some difficulty accepting inferences about what the company knew about its strategic review in 2021, when it was allegedly telling investors it was committed to biosimilars after it formed from Pfizer Inc.'s Upjohn Inc. division and Mylan NV. “I don’t see how it’s inconsistent” with such statements for a company to later receive a good offer to buy part of its ...