Viatris Inc. investors can’t proceed with a lawsuit claiming the drugmaker misrepresented its commitment to its biosimilars business segment, the Third Circuit said Thursday.
The investors didn’t sufficiently show a misrepresentation, the US Court of Appeals for the Third Circuit said in an unsigned opinion. The appeals court affirmed a dismissal by the US District Court for the Western District of Pennsylvania.
Viatris spoke about a restructuring and a strategic review after it formed from Pfizer Inc.'s Upjohn Inc. division and Mylan NV in 2020, according to the parties’ briefs.
The suit alleged the company told investors it was committed ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.